Hi UlhasJi,
I want to help out someone's have 3 daughter age 9years,6years,8months and he was passed away.
I would like to contribute around 25,000 for each child oneoff.
Please suggest the best way to invest for them?
Ans: It's commendable that you want to help support these children's future. For long-term financial growth, consider opening separate investment accounts for each child, such as a Sukanya Samriddhi Yojana (SSY) for the two daughters under 10 years and a mutual fund account for the youngest. Invest in diversified equity mutual funds for the long term, considering their risk tolerance and investment horizon. Additionally, you could explore other options like recurring deposits or fixed deposits for short-term needs. Consult a financial advisor to tailor a strategy that aligns with their financial goals and ensures financial security.