Hi, My present age is 48 yrs, my son's age is 10 yrs. I wish to have a wealth value of 25 Lacs for my son in coming 10 years. Under which child policy should I invest yearly and how much
Ans: Your query is not very clear. To create a wealth value of Rs 25 lakh, it would depend on the return that you get. At a 6% return, you need to invest Rs 15,255 per month. Similarly, at 8% return, you need 13,665 per month. At 10%: Rs 12,204 per month; and at 12%: Rs 10,867 per month.
I suggest you use an SIP in a children's gift fund or a dynamic asset allocation fund like ICICI Pru Balanced Advantage Fund