Jan 06, 2011 - The aim of the guide is to help parents make informed decisoons when making monetary provisions for their Child;s dream
Dr Indu Shahani, Sheriff of Mumbai has unveiled Fidelity's International Guide to Saving for Children.
The aim of the guide is to help parents make informed decisions when making monetary provisions for their Child's dream
Fidelity's Guide for Children is presented in a very simple and easy to understand manner with the help of humorous illustration.
Ashu Suyash, Managing Director and Country Head, Fidelity International-India, commented "Everyone puts aside money for meeting needs, but largely, the approach is without understanding financial planning and how to maximize returns.We believe that this guide will help investors plan better for these important milestones and empower them to make wise financial woes."
As per the Reserve Bank of India (RBI), Indian households invested nearly 50 per cent of their savings in bank fixed deposits during the last nine or ten years while only a negligible or less than 4 per cent of the household savings were invested in mutual funds. This could indicate that despite the numerous other options available in the financial markets, Indian households continue to invest in bank fixed deposits due to lack of awareness.
Parents are still trying to achieve some of their financial goals like making provisions for their child’s marriage or education by investing in bank fixed deposits. A point of note is that during this period equity mutual funds have delivered more than bank deposits.1 In such a situation, the need to promote financial literacy among parents becomes relevant and important.
Parents will find it interesting to read it as it answers some of the basic questions that could be playing on their minds – such as - when to start investing for children or which asset classes to consider. It highlights the impact of inflation on investments and the costs parents could incur on their child’s education or marriage. It also helps parents realize the need for prioritizing financial goals; a step that every parent with limited financial means needs to take.
Speaking on the occasion, Dr. Shahani, said: “Financially literate or well informed parents can significantly improve the quality of life of their children. Indian parents consider saving for their child’s education and marriage as important duties. Parents must therefore understand the financial implications of fulfilling these duties. I have always sought advice when saving for my own children and Fidelity’s guide will certainly help parents like me, who always want the best for their own children.”
source: www.indiainfoline.com
Jan 06, 2011 - The aim of the guide is to help parents make informed decisoons when making monetary provisions for their Child;s dream
Dr Indu Shahani, Sheriff of Mumbai has unveiled Fidelity's International Guide to Saving for Children.
The aim of the guide is to help parents make informed decisions when making monetary provisions for their Child's dream
Fidelity's Guide for Children is presented in a very simple and easy to understand manner with the help of humorous illustration.
Ashu Suyash, Managing Director and Country Head, Fidelity International-India, commented "Everyone puts aside money for meeting needs, but largely, the approach is without understanding financial planning and how to maximize returns.We believe that this guide will help investors plan better for these important milestones and empower them to make wise financial woes."
As per the Reserve Bank of India (RBI), Indian households invested nearly 50 per cent of their savings in bank fixed deposits during the last nine or ten years while only a negligible or less than 4 per cent of the household savings were invested in mutual funds. This could indicate that despite the numerous other options available in the financial markets, Indian households continue to invest in bank fixed deposits due to lack of awareness.
Parents are still trying to achieve some of their financial goals like making provisions for their child’s marriage or education by investing in bank fixed deposits. A point of note is that during this period equity mutual funds have delivered more than bank deposits.1 In such a situation, the need to promote financial literacy among parents becomes relevant and important.
Parents will find it interesting to read it as it answers some of the basic questions that could be playing on their minds – such as - when to start investing for children or which asset classes to consider. It highlights the impact of inflation on investments and the costs parents could incur on their child’s education or marriage. It also helps parents realize the need for prioritizing financial goals; a step that every parent with limited financial means needs to take.
Speaking on the occasion, Dr. Shahani, said: “Financially literate or well informed parents can significantly improve the quality of life of their children. Indian parents consider saving for their child’s education and marriage as important duties. Parents must therefore understand the financial implications of fulfilling these duties. I have always sought advice when saving for my own children and Fidelity’s guide will certainly help parents like me, who always want the best for their own children.”
source: www.indiainfoline.com
