We all want that our children should not face any problem. For this, we work as hard as we can. Parents try to fulfill every need of their children, be it their education, food, clothes or any other necessary items. Along with bearing the daily expenses of the children, parents are also worried about their future. They think that I should do something for my children too, so that the children's life can go on even better. And they do not face any kind of problem.

By the way, every person has different ideas. Some want to earn for their children, while some do not care about this. So let's try to know how much money is right to save for your children. There is no fixed answer to this, but it can be understood based on some aspects.

Things to think about

1. Children's age and needs
If the children are still young, then the needs will be more (education, health, marriage etc.). If the children have started earning and are self-dependent, then the need may be less.

2. Children's wisdom

Can the children handle money wisely?

Do they understand financial management?

3. Parents' safety

Most important: First keep money for your own retirement and medical expenses.

Leave something for the children only when you have made adequate arrangements for yourself.

4. How much money should be left?

This depends on the individual, but a simple guideline can be that apart from the upbringing of the children, something must be kept for the children's future as well.

It is not necessary to give all this together, but some investment and protection plan must be made.

How to leave money?

Term insurance policy

Big cover in low premium - financial backup for children.

Get a will prepared

Decide the right division of your money, property, and investments - so that there are no fights later.

You can create a trust.

So that children get the money gradually or with conditions.

Make sure to add a nominee.

Make sure to make children nominees in bank accounts, FD, PF, insurance, etc.

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