(BloombergQuint)

BQPortfolio: Three Different Saving Plans For Your Child’s Education

BQPortfolio speaks to citizens from across India about their financial goals and helps them access expert advice on how to achieve them.

It’s every parents’ dream to provide the best education to their children.

Rohan Mota wants to save Rs 2 crore for his daughter’s higher education over the next 20 years.

But that may not be enough, said Nirav Panchmatia, managing director and chief executive officer of AUM Financial Advisors.

Mota earns Rs 11 lakh annually. And after his expenses, the 31-year-old is left with an investible surplus of Rs 3 lakh a year.

Panchmatia said Rs 2 crore in 2038 might not be enough as it only amounts to Rs 40 lakh in today’s terms as an overseas education has not been factored in.

On this episode of BQPortfolio, Panchmatia suggests three strategies to Mota to beat inflation and secure his daughter’s future.

Watch the full episode here: