Child education is parent’s top most priority and to meet this goal people rely on different saving products but mutual fund stands out best for this purpose here’s the breakdown:-
💡Investment Growth~ Education cost are growing up fast every year and to tackle this many people choose to invest their money in different ways but mutual fund is a popular choice because it can potentially grow your money faster than FD or PPFs. It gives you 10-15% of returns annually over the long term.
💡Flexible Withdrawals~ Unlike traditional ways to save money like FD or RD where upou get all the money back all at once when it get matures, Mutual fund gives you the flexibility where you can withdraw your money when you need it without taking out everything at once (Partial Withdraw).
💡Tax Savings~ELSS (Equity-Linked Savings Scheme) are particularly advantageous in terms of tax benefits allowing you to reduce your taxable income and save more to provide quality education for your children without any financial strain.
Every parent wants to give their child the best education and a secure financial future. Mutual funds can be a smart way to achieve this goal and to manage the rising cost of education.b