Mustafa replied on Tuesday, October 25, 2016 03:04 AM
You need to consider a few things.
1) How much money you need in 5 years for kids education? For example if you need 64 lacs to 70 lacs by the end of 5 years, then you should look at fixed deposits such as national savings certificates or if you need to go with Islamic banking look into their products.
2) Are these the only funds that you have for kids education? If these are the only funds that you have for education, then invest them wisely and in a low-risk option and not in the real estate at this moment.
3) If you are using mental accounts for different needs you might not be evaluating your risk and return trade-offs effectively. You need to look at your total portfolio and then decide what risks are you prepared to take. If your portfolio is much larger, then you can assume some additional risk in products that might have a higher potential for profit without risking yous kids education.
4) If 50 lacs is all you have and you need a large amount such as 100 lacs; then adjust your goals and expectations and look for more affordable higher education that you can easily pay for in 70 lacs. |
