Investments for kids

We are planning to invest some money for our daughters future. Friends some guidance pl. Where can I invest and in which will I get more profit when she comes for her college studies. She is 7 now .

Thanx
Lakshmi

Hey guys,

So far no replies from anyone of you. pl suggest something like LIC plans and give them in detail.

Thanks
Lakshmi

sashmita,
i have taken a LIC policy for my 4yr old..Its Jeevan chaya policy..
Lic has some policies for NRI kids too.I donno th details cuz i had taken my policy when we were in india..


Ramya

Dear Lakshmi,
I sent you a PM.

I'm not sure if you received it for my I could not find it in my sent folder.

Pls let me know.

Hi,
If you some money, invest in property, you can sell it whenever you need and
good returns is guaranteed.

~Punitha

Sashmitaa

Have you looked into 529 plans - these are state sponsored plans where you can invest in age appropriate investments - since your daughter is quite young, you can put invest in these plans - the advantage is that when you take it out and use it for college tuition, it comes out tax free - meaning, you do not pay any tax on the appreciation. You can check Minnesota College Savings Plan. State rules vary and hence I cannot speak for MN - but I live in KS - any amount that you invest in such investments also get a deduction at the state level when you prepare your income tax return. I would strongly urge you to consult with a tax professional or investment advisor before you invest - so that you know exactly what you are getting into. There are some schools where you can pay for "prepaid tuition" - not sure how that works but I have heard of it. I would definitely start with the 529 plans. Hope this helps.

Hi Friends

Thanks for the information about the investments. Will go thru all of them and hope will find one to invest.

Thanks once again
Lakshmi

Originally Posted by Sashmitaa

Hi Friends

Thanks for the information about the investments. Will go thru all of them and hope will find one to invest.

Thanks once again
Lakshmi

Lakshmi,

If your interested the recent Money plus from lic is good. go through it.

love,
shanthi.

Hi Sashmitaa,

Check this link out for investments for kids in LIC of india:

Life Insurance Corporation of India

and select the Childrens Plan as per your needs.

Hope to be of help.

Diana

Hi Diana

Thanks for the link

Lakshmi