2 GREAT Investment Options For Daughters Education
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- Опубліковано 5 жов 2024
- I have 2 daughters and like any father, I want to give them the best education possible by selecting the right investment plan for their education.
In this video, I have explained 2 great Investment Options For Daughters Education, namely Sukanya Samriddhi Yojna and ELSS Mutual Funds.
I have calculated the returns, their capital gain taxes as well as pros and cons including liquidity and withdrawal provisions.
Is Sukanya Sukanya Samriddhi Yojna the right investment plan for a girl child?
Or is Mutual funds better investment plan for a girl child, let’s find out in this video:
Links used in this video:
Sukanya Sukanya Samriddhi Yojna ONLINE CALCULATOR
www.hdfcbank.c...
Sukanya Samriddhi Account Scheme
www.nsiindia.go...
#mutualfundsinvestment #investingforbeginners #RahulJainFinance
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DISCLAIMER:
PLEASE NOTE that I AM NOT A SEBI REGISTERED ADVISOR SO please do your own research. This video is only for education and entertainment purposes.
if you find this video useful, please let me know in the comments :-).......
Thankyou so much ❤
calculator
It's so useful.. Thanks for the informative video.. The most needed one
Good explanation
Was very useful for me actually I was thinking about the same thing. But confused on selecting an Elss .
I am impressed with your update on tech stocks, I am looking for tax efficient way to rebalance my 7-figure dividend portfolio without triggering capital gain tax. what asset location strategies should i use?
The best strategy depends on your financial situation, account types, tax bracket, and investment goals. Consult an advisor or tax professional to tailor these strategies for maximum tax efficiency.
I’m currently working towards financial freedom with a focus on dividends & growth investing. Since 2014, I’ve built a portfolio made up of 30% NVDA, 25% SCHD and over 40% in digital and alternative assets, thanks to my CFA. This strategy has helped me earn $56,000 a year in dividends. Back in 2014, I only earned $21 in dividends.
Oh I've heard similar things about hiring an advisor. It's hard to choose one that's very good though. Could you make some useful recommendations?
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Melissa Elise Robinson for years and highly recommend her. Look her up to see if she meets your criteria
Wow!! her track record looks really good from what I found online.i just filled the form and scheduled for a call. Thanks to you.
Sir I am really impressed by your informative videos. There is no drama, no hype, no unnecessary explanation only pure knowledge. Thanks
The way you arrived at 12 to 15 pc shows that you are truly an expert, thanks for this info.....keep going higher
When it comes ELSS, you have considered variation in profit from 8% to 15%. where as for Sukanya scheme, it is conservative of 7.6%. As intrest rates also change from time to time. its not exactly same comparision.
Advantages of sukanya samridhi yogna(SSY) Vs ELSS mutual fund for 15 years:
1. SSY has low liquidity, you will have to wait 15 years to get the SSY matured. But in case of ELSS you will have to wait only 3 years. After that you can withdraw the money in case of emergency.
2. SSY can only for girls. But ELSS can done for anyone. ( No age limit restrictions).
3. SSY have zero tax. But in ELSS you will have to pay long time capital gain tax. (LTCG)
4. SSY will roughly give you 7.6 to 9% return. But ELSS can give you 8 to 15% return.
5. SSY can be started before your daughter turns 6 years of age. But you can start ELSS at any age of your daughter.
6. You can consider Index mutual fund/ Midcap Fund over ELSS , but both Midcap and Index mutual fund will be taxable.
Note: Midcap mutual fund is more risky than Index mutual fund, but there is more chance to give you more returns than an Index fund.
***Recently in budget 2024 long time capital gain tax is increased to 12.5% from 10%.
Thanks for clearing my doubts regarding SUKANYA SAMRUDDHI YOJANA & MUTUAL FUND investment
Much needed video... I have invested on the same in the next month my daughter was born.. Thanks for explaining the benefits
Rahul you are an amazing teacher. I wish we could get some training classes or workshops in future. Also I have a query over a HDFC Advantage Par regular income scheme, would be happy if you can make a video.
Wonderful video and the way explain it is awesome. I was looking for the same comparison in excel sheet.
Withdrawing from ELSS is very tricky. If you invest lumpsum then you can wait for 3 years and withdraw it. But for SIP....for every investment per month it will calculate 3 years for that again.
True, thats the reason smartly investment has to be made in case of ELSS so that when required we dont completely rely on elss mf. Elss ko pf ya ssy samaj ke invest and forget. Invest utna hi jitna kabhi zarurat na pade. Aisa mein karta hun 😅😅
Nicely explained, even I have 2.5 year old daughter and planning for such kind of savings and investments, thank you so much ❤
Love your presentation sir, simple and easy to understand.... Is there any multi asset fund with equity taxation available with quality debt component
Along with mutual funds, please consider SGB as well. I myself invest in 20% in Nifty50 index fund, 60% in midcap fund and 20% in SGB for my daughters future. MF percentages will keep changing as per the age of my daughter.
How you invest in nifty 50 index fund? Plz explain
@@rahulrahkr9333 UTI Nifty50 Index Fund
Calculator please. Excellent eye opening video. Thank you
I'm also a father of two daughters. Bingo... Loved your insight Rahul. Thanks.
Thank you soo much.... For sharing information.
Which mutual fund is better
Superb Video. I am going with ELSS scheme from last 10 years and have a decent corpus.
Hey Vipul Sir.... Can you please share your knowledge on ELSS funds with me
In the video you mentioned that the account will mature when the girl child attains the age of 21 years. But the rules say that the account will mature on completion of 21 years from the date of opening the account. Pls clarify.
Inveztment in elss fund and withdraw tax free capital gsin every year from 5 7 yrs and deposit in ppf acct
Great awareness sir. Sir I am 46 years of age. A common man having a small shop in my area. Want to invest 6k per month. My question is how should I plan for my retirement? Pls make a detailed video, if possible . Thanks for your videos.
He emphasis on capital gain tax whish is very impressive and important
Rahul,I don't know why you have missed out one point during discussion that at the time of withdrawal,market may not act as you shows in ELSS return.Hear comes the logic of Tax harvesting and in a way we can save more tax and as well as mitigate risk just by SWP to liquid fund or FD of Rs1L per month as you mentioned in your video of emargency fund ..Child education can be termed as emargency fund but in this case it is expected emargency fund.. waiting for your expert comment on this
Thanks for sharing this video.. Helped in understanding which is better. Calculator please for this
Thanks for clearing confusion on SSY Vs ELSS. But ELSS locking period is 3years from the last installment paid right or from the date of inception?
Hi Rahul. The calculation you presented in this video was a good comparison and would help in making people take the aporopriate decision according to their circumstances.
I hope u will read this message and take out time to please consider responding to my query. Suppose I invest 50000 every month in a MF with expected return of 12% for a period of 7 years in the name of my minor child, who lets say is 11 years right now. According to the calculation the total profit earned at the end of 7 years will be 2159000 approx. Now since the child will turn 18 after 7 years the capital gain tax will be considered for the child who will not have any income.
If the child then redeems 7 lakhs each year from the MF untill he/she becomes employed, would it mean that they will not have any tax liability (given that IT is only levied above 7 lakhs).
I too wanna know this
Very informative lesson but one thing what will be value of 43 lakh after 18 year.
Liked this video. It is very informative l. Thank you and keep doing more videos about girl child investment/savings plans
How to invest for a Child in Mutual funds. Is the process different?
There is one important thing that you missed out in ELSS scheme. Lock in period for 3 years but we need to look for Date of investments of every consecutive payments, after 3 years you will not be able to withdraw full money. We need to wait for 3 years for every consecutive payment. So most of them don't know about this and no broker will inform about this.
Yes. Once I was locked due to unaware of this clause in ELSS.😊
I know 😂..that’s why i stay away of elss funds
Sir this question keeps bugging me all the time that if I start investing right now until the 21st year, the value of that money after 21years, how much worth it will be? How should we consider inflation or some similar factors to it? Could you make video on this about what value our money will be ?
Thank you for the conclusion... I will go with Mutual fund and stick to 15years at any cost
@7:30, please give credits to Groww for making such a wonderful calculator. Thanks for Video.
Liked the comparison, though increasing the LTCG slab to 30% will be preposterous. There was no LTCG few years back and infact there is a higher probability that it will be reduced seeing the backlash from trading/investors community. On the flip side an inc in LTCG from a slab of 10 to 15% is possible.
My investments mentioned below (Monthly SIP)
Nifty 50 index mutual fund 4K
MON100 ETF 4K
Post office (SSA) 4K
Goldbees 4K
I have planned my investment for 20 years. Could you please share your suggestion
@torahulj_hello sir
Thank god i managed to get into a college on merit my dad didnt invest for my schooling
I know ELSS is best, but which ELSS to be select is confusion.. What you recommend?
Thanks for the information.
Can you please create one informative video on how a father can save tax by investing in the name of his major non earning daughter. Any limits to transfer money in her account? Tax liability? Any tax saving for the father?
Woow this video is really helpful because I have 2 girl children and one thing I need to tell you is I already started investing in SBI smart scholar for my first child and also I am thinking what to start for the second one, so please suggest me for Wayforward.
While analysing please consider the fact that govt. exemption on 150000 may not be there always… already new tax regime removed deductions, and slowly govt may move old regime or atleast reduce the deductions gradually so that individual voluntarily opt for new tax regime…
Thank you for sharing with us the detailed information on SSY & ELSS.
I have a question,you mentioned that every month 12500..what’s the scenario of 1.5L investment at beginning of the year..let’s say 1.5L on April1 for 18 years?Instead of 12 months one shot investment on April..what would be the capital gain?Is that covered in your discussion? Please let me know..thank you for your video.
Rahul. I invested in both SS and ELSS. The thing in ELSS that I put SIP in Mirae ELSS and in this scheme it's not first 3 years.. it's a rolling Lockin period. it's 3 years Lockin from the last SIP month. it's been 4 years now.. so I can withdraw amount only from the 1st year. To withdraw the total amount I will have to stop sip and wait for 3 years. This I think is better so that one can plan well in future for additional SIPs for emergency.
A revised video would be needed based on revised LTCG taxes.
Thank you for sharing the information and explaining clearly
By 21/22 of age the child will complete it's graduation, this calc best suited for higher education.
The ideal calculation will be with 18 years when they step into graduation.
Thanks for your presentation...Crisp and Clear
Sir, please give best investment plan for my new born baby girl for long term.
Hi sir,
Thanks for the information
I heard LIC is better than SSY like lic jeevan labh because it gets better returns and accedintal coverage
Can you please compare SSY and LIC and suggest us
Very useful and informative video rahul....all r having kids...and we have to plan for their career and future education....very very useful video...❤
Please make this video for NRIs... where should they invest for their newborns?
Very informative video sir. Plz guide us in this keeping the new regime income tax and high capital gain tax after budget 2024
Hi Rahul , this is very helpful.. Can you please assist on, what are best mutual fund for the long term investment.
Great contents and your presentation is awesome... Please continue sir
I started both ssy and elss. And regularly invest every month last 2 years
Happy to know about SSJ.❤❤
Thank you for sharing very clear information... Thanks Sir
Kindly share spreadsheet
Please suggest can we invest in 30:70 ratio in SSY AND MUTUAL FUND
If you are opting for new tax scheme which one would be better?
What is the best ELSS mutual fund to invest that long
thank you so much for this video. your explanation is awesome.
Hi... What if I invest 10000 but 5000 in Sukanya and 5000 in Elss?
Thank you so much for this video, it's very useful and clear understanding.
INFORMATIVE VIDEO, I WANT TO KNOW THAT PROFIT RETURNS FROM ELSS MUTUAL FUNDS ARE TAX FREE OR IS IT TAXABLE PRESENTLY?
Sir, I have a daughter of 2 years so which plan or scheme is better than others, please suggest me
Nice explanation
That is supporting in terms of taking value decisions for long term ❤
Sir can you suggest which mutual fund to buy for good returns
I want to go with Mutual fund. So , could you please explain which is the best mutual fund for investment
Thanks for sharing such detailed information. Please share the excel sheet.
calculator please….thanks for the informative video .
Eye opening presentation sir
Awesome video with variety of possible outcomes. Thanks for sharing!
Thanks for making this video Rahul. Is there an option to withdraw SSJ ?
Could you please share the calculator link ?
Very nice explanation Bro👌 and please don't forget to share me the calculator.
Very Information and clearly explained the video.
If I may ask for your help, which mutual fund scheme would you recommend for such investment for my daughter?
Thank you so much for explaining in detail.
Hi Rahul, it was very well explained, pls share the calculator
sir you need to add to the 41L (of SSY) the tax saving of 1.5L per year to get the NET result of saving achieved so 22.5L will be achieved in taxsaving. so net gain is 41+22.5 = 63.5L
😂
ELSS is also tax saving
My daughter is going to be 10, nov this year. Should I go for sukanya samriddhi yojna now??
I have a daughter sir,your calculations helped me...sir, please provide me the link to the calculation sheet... thanking you in advance
What are your thoughts on the children gift fund returns like HDFC CGF
Can you please guide whether all ELSS mutual funds maturity benefit are tax free or not??
Good clarity.
Very very useful Video! Thank you so much for sharing a responsible video!😊😊😊
If you are an NRI, how is investment made in india can be used let's says after 10years into dollar? Since you are hence asking ..is it helpfull
Thank You Very Much Brother, a really useful video..
Thanks for the informative video. Calculator please.
Getting 12 or 15% on investing for 6 years it may not be possible.. Other than that all are perfect in the video.. Thanks..
Thank you Rahul @torahulj for this informative video, I'm glad, can you please share that calculator? Thanks!
I am interested in investing in mutual funds but I'm very new to that, if you have any video to understand mutual funds investment please share that too! 👍
Hi have you taken indexation under consideration for long term capital gains? Capital gains taxes are not levied on the entire capital gains but only the gains which fall beyond indexation.
step up SIP in MF would further add more benefits in terms of returns and creating a big corpus
Pls suggest some good ELSS Mutual funds for long term
If I am investing less than 150000/- every year in ELSS, will I have to pay tax on it’s interest earned ? As u said that in Sukanya if I pay less than 150000/- then I have to pay tax on it’s interest earned
Show me brother
Thankyou sir
Muze mere bête ke padhayi ke liye 12 Sal bad fix 1500000-1700000 rs chahiye…to kaha invest karu…10000 per month invest kar Sakata Hun.please suggest
Rd karo
@torahulj well, i see a problem in your tax calculation. Why are you calculating the capital gain tax on ELSS return after 15 years? Isn't it tax free? (and I am not even talking about the remaining 6 years considering other MF scheme than ELSS.). So, the problem is, you are considering SSJ be tax free after 21 years but ELSS is not. Govt can change anything at anytime. Noone knows, what would be the tax rate on SSJ or ELSS after 21 years. So, this is clearly not an APPLE to APPLE comparison.
Thank you for right advise Rahul- great video
Shouldn't we include the annual expense ratio calculation? Because I think ssy doesn't have any yearly expense i believe.
Please suggest something for lumpsum investment 🙏
Great Presentation. Could you share the Excel sheet please