Financial Planning for Children’s goal

Child education or child related goals are very important goals for any family, emotionally more engaged for these goals and are ready to do financial planning. Goals considering from child birth to start up their career it is will start from) age 0 to around 25 to 30 age

In India generally we have to support financial as below event:

  • Birth of child
  • Start his/her school
  • Higher secondary school
  • Graduation and post graduation
  • Specialisation education
  • Help to start-up any business or profession
  • Wedding exp
  • Gifting
  • Estate planning for children/grand children
  • Planning for Child with Special need

Approximate expenses as per today’s & future value for children goals

Goals Child Age Today After 5 Yr After 10 YR
Birth 0 100000 140255 196715
School admission 5 100000 140255 196715
10th 15 150000 210383 295073
12th 17 200000 280510 393430
College 18 to 22 1200000 1683062 2360582
PG 22 to 24 600000 841531 1180291
Wedding 25 1000000 1402552 1967151
Any Start Up 25 250000 350638 491788
Total 3500000 4908931 6885030
inflation- 7%