Residing in Delhi, how can I secure my child's future financially?

Question

She is a girl.

Answer 1

As others have said, setting up a trust fund or similar would be a great way forward. If you can afford to you can ask at your local bank to see if they have any high interest accounts where you put in a fixed amount each month.

However, another thing to consider is setting up an account to put money aside for her education. Often the best education comes with a nice fat bill so if you want your daughter to be able to possibly work (for whatever reason) to help herself financially then do consider this.

If you can, invest on her behalf in things like property. Not only will she have a house etc but she can also put it up for rent if need be.

I wouldn't join any bad saving/selling schemes where you must sign up "x" amount of people as pyramid schemes more often than most don't work out.

Maybe you could also ask other local parents what they are doing to secure their offsprings future?

I guess it depends on how much money you can invest and on what time scale too.

Good Luck.

Answer 2

Make a lot of money, put it in passive investments, put those in trusts.

The real question though is "Is that going to be good for her or not"?