Team-BHP (https://www.team-bhp.com/forum/)

-   Shifting gears (https://www.team-bhp.com/forum/shifting-gears/)

-   -   Portfolio management for newborns / kids !! (https://www.team-bhp.com/forum/shifting-gears/44534-portfolio-management-newborns-kids.html)

In today's world its actually very important to have a well-planned financial portfolio for a newborn. In my perspective, it's as much important as planning for a kid.

Currently i am looking for reliable and effective options, available options are like

> ULIP Plans - ICICI Smart Kid, Aviva Kids plan
> Investing in Gold
> Fixed Deposit
> Buying unmovable assets

Any suggestions/experiences ?

Wasn't your child born a few days ago?

What has the world come to?

Sam, my child was borned on 20.08.2008 i.e. 3 days before only :)

World is there only, seems like you having too many childs in your dreams !! stupid:

Mr. low_bass_talker, many congratulations on being a proud poppa! :)

Have you atleast named the child, or the financial planning comes first? lol:

NO ULIP EVER!!

ULIPs are nothing but instruments for banks to make money off you.

My personal take is that you invest money in general like you would have, any other which way. MFs are good, as is a long term investment in something like Reliance. Takes it oil n gas plans, india's energy need and you have a long term winner :D

But seriously, never ULIPs. Buying insurance/investment separately is better. And gold while good, is never honestly sold as easily (emotional fundae). and energy prices are mad and getting madder. Its a clear long term play IMO.

Thanks for your wishes Ajay

No, the naming ceremony is on 2nd September :)
Well, ULIP wasn't too my primary choice but flexibility available is ULIP is actually very great to hear, atleast. Some features like continuation of policy even after the parent's death including premium payment by insurer, autoswitching between funds etc. etc.

However, stocks purchase is another very good option. Didn't thought for a while for the same.

Gold, i do admit, is always indulged in emotional fundas while selling. But i am eying something like buying and keeping it in a corner and take it out after say 15-18 years :)

Don't get me wrong, don't be offended at my statement but take a moment and reflect on what we have come to.

Your little boy is 3 days old. He doesn't even have a name yet. He doesn't know feet from fingers, nose from toes and he is happily smiling innocently at everyone, grabbing anything you put in his little fingers, crying for his milk and pissing and pooping all over his little bed or in his diaper.

And we're discussing how much money he should have invested in his name.

It's not you Ash.

It's all of us.

What has the world come to? Doesn't anyone feel the way I do? I'm squirming really hard inside.

Sam, you are bang on, but no planning is the surest plan to fail. I remember the free times of the 80's and the 90's.......bandra was the place...ah ...but I guess each one of us can protect the world as we remember them and retain the best of those times. I am trying and trust me it is not easy....BUT worth the effort.

I understand your feelings Sam and certainly appreciate the same.

Kindly do not take me into wrong way. I am trying to be a responsible father rather then a father who enjoyed his life at fullest. I want my baby should be capable of facing the realistic world when he'll be young. He will be very happy to see all the arrangements his father had done for him for his prosperous future, even if his father ain't there. :)

I and my wife are surely enjoying each and every moment is it is sleepless nights or restless days. We love to play with him while he is sleeping, we love his smile, we love those countless face expressions he creates while sleeping. Yes, we love his every movement.


Straight from a father's heart !!

You may wish to meditate on:

पूत कपूत तो क्या धन संचे, पूत सपूत तो क्या धन संचे

See Personalfn - Money. Simplified.

One of the best India financial sites.

Ashish,

don't get me wrong, but every time you have a child, you "will" should be changed, to make sure no issues are there in case anything happens to you. Do you have relatives that may be able to share what you only want to give to the child?

Think of assets that may not be in your name and what happens if you are not there tomorrow. Do you have all nominations correctly specified in all accounts. I believe a "will" overrides all nominations. and if nothing is there, legal heirs come into picture.

for people outside india, it's a big issue because if something happens to them, the kids can go to government rather than relatives in India.

I have to get it done as soon as possible myself. Lawyers on forum, can you advice if I plan to immigrate later, where should I create my will. India, US where I am, or the country where I go after sometime?


frankly speaking, you can not really plan everything for your child beyond his education. you can build social security for them in form of good immediate relatives. include them in discussions when you decide about your child's future and tell them where they may have a responsibility in your will.

First thing first, do an LIC first. I (rather my dad :)) just did one for my 8 month old, the plan called Koman Jeevan. That will help. Personally I donot prefer ULIPs.

I am planning to put some SIP in one of the worthy MF so that I have some immediate cash requirements at ages like 16, 18, 22 etc. i guess a nice MF should fetch you good return in 15 years time frame.

Remaining money in the SIP can be used for her marriage and gifts.

Abhi

Good Education, Value system is all what you should give. That's it. You really need not give any money.

Got you point, "Will" ain't a big issue in India. Though, i admit it's always good to have "Will".

However, i too feel getting children participating into healthy discussions helps in over-all growth of the child. Will take care otherwise too.

I am too inclining towards LIC's Komal Jeevan, try to get more an more information about the product. What were the points before picking "Komal Jeevan"