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A few things I learnt about investing (the hard way!). Let's dive…

Tuition & Tally

As children grow up, so is the educational expense, and in this rising inflation one can't accommodate this without planning your kid's future early. Always factor in the rule of compounding!

Cents + Sensibility

If your kid is performing good enough, think about investing. Not denying the fact that education is an expense, but investing in education is very critical. There are instances when kids have been left for good without education citing reasons like COVID and non-sinical factors. Don't let your kid be traumatized. Be accommodative!

Start early!

Start early, but remember to invest wisely also. Remember the power of compounding! Goal attainment is easier when you start working on your kid's future early. The more early you invest, the better returns. Also note that fact there's always scholarships and fee waivers for kids.

Insurance

Avoid using up savings, or breaking up FDs, investments at times of emergencies. There has been numerous counts of investors using up all their funds and running pillar to post on shilling investments. Most get very dirt cheap returns when they break their investments.

Budgeting

You should start early budgeting activity. Plan with your spouse right from rent, to groceries to utility bills. Analyze the gaps from where you are to where you want to be. Yes, quantify expenses. If $X is the amount you need to fill the gap with, ascertain the time you require to manage this gap!

Price of Wisdom

There's no one size fits all solution for investment decisions. Don't put all eggs in one basket. Your portfolio should have a combination of fixed/recurring deposits, emergency funds, mutual funds, gold, stocks, alternate investments (maybe crypto, web assets). If you have 10 year goal, invest in equity. Your savings matter a lot. Equities might be risky if less than 5-7 years, but have a lot of potential in 10 years. Where there's risk, there's reward.

Career

There are numerous scholarship opportunities for children who display exemplary academics. UTLIZE the opportunity. Moreover, the courses they are interested is also a factor! Ear mark money for your kid's education if they want to study abroad. Not all courses are costly. But, make the decision based on your kid's wish, and merely not based on financial conditions. There are numerous banks offering loans for education today.

Final Notes

Notably disturbed that many MBA schools sell course as an investment citing x% returns in 3 years - DONT! Family support system must be made. Luxury and lifestyle have bits play a spoilsport in your investments. Think about short and long term goals. A full understanding of your income matters. Invest in your kid's education and support them in their career. Always be compassionate!

Thanks for reading!

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