Your (Future) Children Will Thank You For This! 👶🏻🤑
Hello, fam!!!!
Ahh, it’s been a hot minute since I wrote to you, but you understand what’s (or rather, who’s 😂) keeping me on my toes, right? I’ve missed writing to you all so, so much and I am super excited for you to read this mailer. Take a look at the subject line again for a spoiler, in case you missed it!
What I was up to: I’ve been away from work since the beginning of this year for maternity when this chotu munchkin arrived and our lives changed forever! My husband Avinash and I were blessed with a baby boy and we’re so pleased to introduce tiny Mr. Krishiv Parekh to you - my son, the apple of my eye and the light of our lives, the newest and littlest addition to our FinCocktail team. While Krish cannot seem to get enough of me, I too do not get nearly enough of Sayali, my team, and you guys, so I’m super excited to be back to work very very soon, well at least on a part-time basis!
Market ka haal: This week started off not-so-strong with three consecutive days of Nifty falling as a result of high global risk sentiment. The anxiety around investing has been quite high as there's a probable recession looming in different parts of the world. Although India isn't doing so poorly, our markets are still bound to get affected by global macroeconomic elements like the dollar index that's affected by the aforementioned cues.
In addition to this, the Q4 results of tech companies like TCS & Infosys are out and they do not look great. Adding fuel to the fire is Meta announcing yet another bunch of layoffs. Mark, did nobody teach you to read the room? This is not helping anyone in the world, buddy. Stop it!
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Humara Gyaan: I wrote to you guys about how expensive maternity healthcare and having a child is, a few weeks ago. But, so is the part that comes after with ever-expanding expenses for the little one, especially when they grow up to be not-so-little-anymore. So this time, I bring to you:
Three ways to save for your (future) children:
👶🏻SIP with the kid as a nominee: Consider starting different SIPs for different future needs like one for education, one for their potential wedding, and another for maternity, and medical needs. Don’t mix the two, and use them only for their purpose. For short-term needs consider debt funds and for long-term goals like the child’s education consider good quality equity mutual funds.
You can also opt for child’s saving plans, that give you enough of a corpus for potential educational expenses, health emergencies, and other miscellaneous costs while keeping into account inflation! Make sure you diversify investments in different asset classes like mutual funds, gold, RDs, and FDs!
🤑 PPF account in the kid’s name with you as a guardian: Public Provident Fund (PPF) scheme is a long-term investment option that offers an attractive rate of interest and returns on the amount invested. But the best part is, it's a low-risk investment since it's backed by the government. The interest earned and the returns are not taxable under Income Tax and you will also be able to claim it under section 80C deductions.
✅ Get yourself a term plan: Ensure extending your term insurance with sufficient coverage for your child(ren), just in case something were to happen to you.
Start doing these three things once you achieve your current financial goals whether or not you want to have children because the returns will obviously help you, as well! I hope you liked hearing from me after a looooong time and I absolutely loved penning this for you!
I will write to you super soon, promise!
Niyati ♥
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