Where to Invest for a 19-yr old in india? What are some options for a 19 yr old for investment in India. What kind of investments can be made for a 19 yr old student? Can a student in India have a PF account? What about mutual funds? Please give your inputs nd explain them. Thanks
Re: Where to Invest for a 19-yr old in india? Hi Sure people can invest in mutual funds in India ,first you need to apply for a pan card and the pan card form is available online also .So please fill it ,get the PAN card and then start investing in mutual funds .And about Pf ,the person should be working to contribute Provident fund .There are different investment options which you can choose ,depends on how much you want to invest . As of now you can invest in systematic investment plan on a monthly basis which will give you 9 to 10 % returns on an average . Else if you wish to choose safe investments ,then you can opt for post office investments like MIS,PPF and Recurring deposits where you get around 8% returns . cheers Mahima Karthik
Saving query on Kid's B'day Dear ILs: Apart from regular savings, I would like to save separately a sum of Rs.10,000/- on my son's bday every year. I would appreciate if anybody could give me suggestions on this. Thanks in advance. Rgds Deepa
Re: Saving query on Kid's B'day hi, its very good u r planning so much ahead. well,u can start a SIP of 1000 Rs or start a ladies kitty of same amount or even deposit in saving account. in addition save all the monetary gifts the child gets like money from grandparents or aunts-uncles...........
Re: Saving query on Kid's B'day Hi Pragati: Thanks for ur reply. I am zero in investing ideas. After reading this money matter forum from our site, i learned a lot on savings and investments. So just today i have started enrolling for a SIP of 1000Rs. Apart from this I have some insurance policy and a PPF account. k, what is this ladies kitty? I have no idea. could u pls explain this to me. Also the interest earned to savings account is too low i think. Can u pour some ideas on this. Thanks in advance.
Re: Saving query on Kid's B'day For DD,i kept saving all the amounts that she received from friends and relatives till her AyushHomam...along with that i had put some extra thousands and bought 2 soverigns of gold coin along with that i have invested Rs 10000/year in LIC for her...she ll get back this amount after she reaches 21 years and after that every year on her birthday she would recieve Rs10000 till the end of her life and she herself can nominate someone to receive that after her lifetime Thinking of investing in something else also...
Re: Saving query on Kid's B'day SIP refers to Systematic Investment Plan. Investing a fixed amount every month in mutual funds. We can give ECS facility with our bank account and every month on a selected date the pre-determined amount will get debited to our account. I helps out to average the NAV over long period of time. Other ILs please correct me if I am wrong.
Re: Saving query on Kid's B'day Having read some other thread in this forum, there are lot of advices not to go for insurance policies. So awaiting better investment plans for 10000/year. Thanks in advance.
Re: Save for Kid's Education Insurance is to cover mortality issues and is a poor investment vehicle. In fact those people have to turn around and invest in bonds and stocks to cover their insurance cover!
