Children Marriage Plan to Make Your Child's Dream Marriage a Reality

When it comes to the marriage of your child, you want to spare no expenses in ensuring that it is the topic of discussion among family and friends for years to come! So, what is the right time to start planning for your child's marriage? Certainly not just before the marriage!

Depending on the kind of wedding you have dreamed of for your child, you could be looking at anywhere between INR 20 lakhs to INR 5 crores!

Weddings are no simple events nowadays with fashion designers for dresses, event planners who will take care of every aspect of the wedding, florists, and caterers to name a few.

How to Plan Your Child's Marriage with Children’s Marriage Investment Plan

Here are the points to be kept in mind while planning for your children's marriage investment plan:

The Earlier the Better

Mr. Amit Joshi is a 34-year-old software engineer. His wife Divya, 31, is a freelance graphic designer. They have a 7-year-old daughter, Kavya.

Mr. Joshi wants to arrange for sufficient funds for his daughter's marriage when she turns 26. Mr. Joshi has taken into account all the costs associated with his daughter's marriage and the total comes to Rs. 30 lakhs in present terms.

Let us find out how much Mr. Joshi needs to save every month in order to meet his financial goal of getting his daughter, Kavya, married at the age of 26.

Daughter's Age today	7 years
Cost of marriage in present terms	Rs. 30 lacs
Time horizon	19 years
Inflation rate	8%
Cost of the marriage in future	Rs. 1.3 crores
Average portfolio return	12%
Monthly investment required	Rs. 14, 852/-

If Mr. Joshi starts 5 years later when his daughter is 12, then the investment per month will shoot to over Rs. 40,000/- per month!

The Right Asset Allocation

Mutual funds are an excellent tool to help you achieve the goal of your children's marriage investment plan.

Before investing, however, you need to find out your risk appetite. Are you an aggressive investor, moderate investor, or a conservative investor?

Asset allocation or the allocation to equity, debt, or gold will depend on your risk appetite. With the right mix of these three asset classes, you will have the required funds for your daughter's marriage when you need it.