Why Should You Plan Your Child’s Marriage?
1.Advance planning helps handle hidden costs associated with marriage
2.Timely investments help counter the impact of rising inflation rates
3.Early investing will keep your financial life disciplined
4.You will not have to disturb your retirement fund incase extra money is needed
5.Building a steady corpus by keeping a set amount each month will help relieve financial stress
Other long term investments you should do now to help your child’s marriage plans in future
Based on the current age of your child and the approximate age of marriage different investment options can be considered. In case 15-18 years are left for your child’s marriage, investing in equity fund can be a good choice since over a long period of time the volatility in returns balances out. An equity focussed investment also counters the inflation rate. Another wise investment decision would be to have a systematic investment plan (SIP) to build a steady corpus or do a lump sum in case you have a substantial amount to invest. For a short-term focus investing in safer options like PPF, tax saving fixed deposits and tax-free bonds would be the better choice
