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Investments for kids

Discussion in 'Money Matters' started by Sashmitaa, Jul 9, 2007.

  1. Sashmitaa

    Sashmitaa Senior IL'ite

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    We are planning to invest some money for our daughters future. Friends some guidance pl. Where can I invest and in which will I get more profit when she comes for her college studies. She is 7 now .

    Thanx
    Lakshmi
     
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  2. Sashmitaa

    Sashmitaa Senior IL'ite

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    Re: Investments

    Hey guys,

    So far no replies from anyone of you. pl suggest something like LIC plans and give them in detail.

    Thanks
    Lakshmi
     
    3 people like this.
  3. ramyanand

    ramyanand Silver IL'ite

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    Re: Investments

    sashmita,
    i have taken a LIC policy for my 4yr old..Its Jeevan chaya policy..
    Lic has some policies for NRI kids too.I donno th details cuz i had taken my policy when we were in india..

    :wave
    Ramya
     
    1 person likes this.
  4. sssaustin

    sssaustin Senior IL'ite

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    Re: Investments

    Dear Lakshmi,
    I sent you a PM.

    I'm not sure if you received it for my I could not find it in my sent folder.

    Pls let me know.
     
    1 person likes this.
  5. puni88

    puni88 Moderator Staff Member IL Hall of Fame

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    Re: Investments

    Hi,
    If you some money, invest in property, you can sell it whenever you need and
    good returns is guaranteed.

    ~Punitha
     
  6. Shobanag

    Shobanag Bronze IL'ite

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    Re: Investments

    Sashmitaa

    Have you looked into 529 plans - these are state sponsored plans where you can invest in age appropriate investments - since your daughter is quite young, you can put invest in these plans - the advantage is that when you take it out and use it for college tuition, it comes out tax free - meaning, you do not pay any tax on the appreciation. You can check Minnesota College Savings Plan. State rules vary and hence I cannot speak for MN - but I live in KS - any amount that you invest in such investments also get a deduction at the state level when you prepare your income tax return. I would strongly urge you to consult with a tax professional or investment advisor before you invest - so that you know exactly what you are getting into. There are some schools where you can pay for "prepaid tuition" - not sure how that works but I have heard of it. I would definitely start with the 529 plans. Hope this helps.
     
  7. Sashmitaa

    Sashmitaa Senior IL'ite

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    Re: Investments

    Hi Friends

    Thanks for the information about the investments. Will go thru all of them and hope will find one to invest.

    Thanks once again
    Lakshmi
     
    1 person likes this.
  8. Shanvy

    Shanvy IL Hall of Fame

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    Re: Investments


    Lakshmi,

    If your interested the recent Money plus from lic is good. go through it.

    love,
    shanthi.
     
  9. diana

    diana Bronze IL'ite

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    Re: Investments

    Hi Sashmitaa,

    Check this link out for investments for kids in LIC of india:

    Life Insurance Corporation of India

    and select the Childrens Plan as per your needs.

    Hope to be of help.

    Diana
     
  10. Sashmitaa

    Sashmitaa Senior IL'ite

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    Re: Investments

    Hi Diana

    Thanks for the link

    Lakshmi
     

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