People generally start planning for their child when they start their education, and then for graduation and post-graduation. But most fail to account for an increase in regular expenses after the baby arrives. After a baby is born, additional expenses such as the hiring cost of a nanny, healthcare, and schooling, are normally overlooked. Though you might be saving a lot today, will it be enough for the long run? Industry experts say while planning for the long run most people do not factor in inflation or invest in growth asset, which is necessary. It is not just about starting early but also choosing the right investments for your goals.
If you are also planning for your child, know how well prepared you are, and the shortcomings you need to fill: