Newborn's Investment Planning | Health Insurance advice

Sumi

Sumi

Disciple
Hey everyone, got two queries for people who know better since I do have MFs but more of a SiP and forget about it person.

I have a son who's 3 months old right now and want to start a SiP or anything related like educational insurance. What would you guys suggest. I'm targeting a monthly of 2k right now as expenses are at an all-time high. Will definitely increase the said amount some months after so take that in note.

Basically, want to start investing so when he pursues higher education/business, he'll have more freedom to decide on what he wants to do

Other question is what medical insurance would be great to have, any recommendations for the family of three? (My wife, son and me)

Could I get an overall expenditure per month that would incur for this so that I can plan this out with the family.
 
Sumi said:
Hey everyone, got two queries for people who know better since I do have MFs but more of a SiP and forget about it person.

I have a son who's 3 months old right now and want to start a SiP or anything related like educational insurance. What would you guys suggest. I'm targeting a monthly of 2k right now as expenses are at an all-time high. Will definitely increase the said amount some months after so take that in note.

Basically, want to start investing so when he pursues higher education/business, he'll have more freedom to decide on what he wants to do

Other question is what medical insurance would be great to have, any recommendations for the family of three? (My wife, son and me)

Could I get an overall expenditure per month that would incur for this so that I can plan this out with the family.
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Put 1.5L per year in PPF for him. Its the only safe investment with near Mutual fund returns.

Medical insurance - Base policy 10L floating + 90L floating Super topup or individual ones. Can HDFC, ICICI or others of your choice. Never get anything LIC.
 
Party Monger said:
Put 1.5L per year in PPF for him. Its the only safe investment with near Mutual fund returns.
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nope, not even close, current rate for ppf is 7.1% and any decent index fund will easily net you atleast 10% (and this is bare minimum) and will be closer to 15% conservatively, also GST is charged on the interest earned on top interest in ppf now which reduces earnings further, PPF is a decent debt instrument and thats it
 
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