How to overcome the dilemma of financial planning
1 year, 2 months ago

How to overcome the dilemma of financial planning

Live Mint  

Sridhar, 52, is among the many people I have interacted in his age group who are facing difficult money-related decisions. Figuring out how to fund a sudden increase of 2-4 times the amount needed for a financial goal is baffling many individuals and has become one of the most asked questions. Given the ease of obtaining loans, education loan or loan against gold and/or mortgaging a property are the other options considered to fund the shortfall. Frankly, it is impossible to double or triple savings for a goal in a 2-year period and while loans are preferred over withdrawing EPF, Indian parents need to have their children contribute heavily towards the repayment of these loans. At every stage of life, evaluating the changing needs realistically and adapting the financial plan to the new normal can result in lesser reliance on loans and leaving retirement funds to compound for a purpose filled future.

Education Retirement Children Financial Age Loans Fund Goal Sridhar  children  fund  retirement  dilemma  goal  planning  overcome  better  financial  higher  loans  age  education

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“Financial planning for us was about giving our sons the best education, not building a dream home”: Dalveer Singh
1 month ago

“Financial planning for us was about giving our sons the best education, not building a dream home”: Dalveer Singh

Live Mint  

Planning for higher education for children forms a major aspect of financial planning for most households, especially if you plan to send your children overseas for higher education due to the sheer costs involved when looking at a degree from top global institutes. “When we met, close to about 50 per cent was equity, close to about 25 per cent …

Should you fund your child's foreign education with savings, a loan, or both?
1 month, 1 week ago

Should you fund your child's foreign education with savings, a loan, or both?

Live Mint  

As festivities bring families and friends together, dinner table conversations more often than not turn to children and their future. However, we do see increasingly students and parents evaluating overseas education for higher studies, with the top five destinations being the US, UK, Canada, Australia, and Singapore. Despite the rising cost of international education, many affluent Indian parents are eager …

78% Wealthy Indian Parents Send Kids Abroad Without Adequate Financial Planning: Report
3 months, 1 week ago

78% Wealthy Indian Parents Send Kids Abroad Without Adequate Financial Planning: Report

ABP News  

Approximately 78 per cent of wealthy Indian parents either plan to send their children abroad for higher education or currently have a child studying at foreign universities, according to the HSBC "Quality of Life Report 2024.” However, these parents often fall short in terms of financial preparedness for this goal. The study also underscores that the challenges of securing adequate …

Odisha to roll out ₹2659 crore scholarship for undergraduate and PG students
10 months, 1 week ago

Odisha to roll out ₹2659 crore scholarship for undergraduate and PG students

Hindustan Times  

Odisha govt is all set to roll out a ₹2659 crore scholarship scheme for economically weaker students pursuing undergraduate and postgraduate courses in all the government and government-aided colleges and universities across the state. Odisha to roll out ₹ 2659 crore scholarship for undergraduate and PG students Officials of the state higher education department said the main objective of this …

How much should I invest in a SIP for my child’s education?
1 year, 4 months ago

How much should I invest in a SIP for my child’s education?

Live Mint  

I am 36 years old and do not have a Systematic Investment Plan so far due to my home loan and other financial liabilities. The cost of higher education is rising by around 10% every year, and 13 years from now you will need around ₹70 lakh. As you haven’t started saving yet for this goal, start Systematic Investment Plans …

How do I plan my investments for daughter’s higher education?
1 year, 5 months ago

How do I plan my investments for daughter’s higher education?

Live Mint  

I am 33 years old and work in the service sector, drawing a monthly salary of ₹1 lakh. My investment portfolio includes ongoing systematic investment plans in mutual funds : two large-cap funds, a consumer fund, a flexi-cap fund, a tax saver fund, a mid-cap index fund, and a small-cap index fund. Regarding the NPS, assuming an annualized return of …

Financial planning: How to plan for your child’s future?
2 years, 2 months ago

Financial planning: How to plan for your child’s future?

Live Mint  

As a parent, all of us want the best for our children. Suppose you have a 3-year old daughter, for whom you have the following goals - Graduation expenses - Rs 20 lakh today - Rs 20 lakh today Post-Graduation expenses - Rs 30 lakh today - Rs 30 lakh today Marriage expenses - Rs 15 lakh today But since …

How to save enough for your child’s education abroad?
2 years, 3 months ago

How to save enough for your child’s education abroad?

Live Mint  

Planning for the child’s education is a key part of every parent’s financial planning. On the other hand, the parent who had been saving for their child’s education in an equity-heavy fund just before the onset of the Great Recession might have wondered where they went wrong with the whole ‘equity outperforms other asset classes’ messaging. Don’t chase hot tips, …

Preparing to fund your child’s higher education? All the things you should know
2 years, 3 months ago

Preparing to fund your child’s higher education? All the things you should know

Live Mint  

Who doesn't want to get a higher education degree from a reputed institution? Many times, parents have to sacrifice their retirement savings to fund their child's higher education, and at other times, students have to drop their dream of higher studies or study abroad. The first is getting an education loan, and the second is making an investment dedicated to …

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