Future Savings Plan Mistakes: Parents make many plans for the future of their children. In that school they think they should study, play these games and teach other activities. They constantly strive to make the future of their children golden. On one hand, they invest in savings schemes for future needs while pursuing higher education. But parents make some mistakes while saving. Some problems may have to be faced due to these mistakes. What are they..
Worrying about the future of children, many parents forget to think about their old age. They invest in various savings schemes for their children but do not take any policy for themselves. This is the biggest mistake. Because of this, many people face problems after retirement. If you take a policy for your children… take a policy for yourself keeping your retirement in mind.
Considering the cost..
Costs always go up. They never decrease. The prices of essential commodities are increasing day by day. Before investing in savings plan.. take care of expenses after 15-20 years. If you invest in a small scheme then you will not get much benefit later.
Are you thinking too much?
Should you invest in a savings plan first? Or not..? Many people are in dilemma. In which scheme to invest..? Will our money come to us? Doubt that. You start investing as soon as possible without giving much thought to the matter. Maturity money will reach you in less time.
Based on requirement..
Any savings plan should be taken according to your need. For example, if you want to save money for your daughter’s marriage or her higher education, invest in schemes like Sukanya Samriddhi Yojana. If you want to become rich in a short time without any risk, then you can invest in the stock market. LIC policies help you make a smooth transition after retirement.
best savings plan
It is important to consider future expenses while choosing a future savings plan. For example, if you want to take any savings scheme for higher education of your children.. then savings schemes of Rs 50 thousand or Rs 1 lakh will not work. Inflation will increase a lot in the next 10-15 years. It would be better if you choose a savings scheme of at least Rs 5 lakh.