Make your child a millionaire in this way

 Start with Rs 1,400 in the child's name, the investment will be Rs 1 crore before getting the job

The biggest worry people have at home is the child’s career. But if parents start planning for their children from an early age, they will have a fund of Rs 1 crore at the age of starting a career. With this fund, a child can make his career as he wants. This can be done easily by saving Rs 1,400. In this way, parents can start planning for their children. The most special thing about this investment is that it will be completely tax-free.

 

Make your child a millionaire in this way

 

Doing planning this way

 

 

This type of planning is easy. The investment is to start from Rs 1,400. Then it is to increase it by 15 percent every year. This means that an investment of Rs 1,400 in the first year will increase to Rs 1,610 in the following year. In this way, the investment continues to grow. If you get a return of 12 percent on this investment, it will be Rs 1 crore in 25 years.

 

 

Where to invest

 

 

A.K., director of the financial advisory firm BPN Fincap. According to the corporation, a good return can be obtained if the investment is made for a long time. Such a good return can be easily obtained in a mutual fund. More than a dozen well-known mutual funds have returned more than 50 percent in the last year. In the long run, the fund's return has been better than 12 per cent. If you invest in this good fund, you can easily get a return of up to 12%.

 

 

How to increase investment

 

 

According to Dilip Kumar Gupta, Director, Ansh Financial & Investment, people are wondering how small investments can be made. But it is easy to understand. People feel that the investment is too low every month. But there comes a time when there seems to be more return on investment. After that the fund grows rapidly. The investment in this planning will be more than Rs 1.5 lakh in the 5th year. This investment will increase to more than Rs 5 lakh in the 10th year. In the 15th year after that, the investment has gone up to Rs 16 lakh. In the 20th year, this will increase to more than Rs 42 lakh. In 25 years, this investment will be more than Rs 1 crore.

 

 

The whole rupee will be tax-free

 

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According to Income Tax Advisor Rajiv Tiwari, investors in equity mutual funds benefit from long-term capital gains tax. Investments in these funds become completely tax-free after 1 year. There is no tax on any of these benefits.