I still have that moment of birth of my elder son in front of my eyes crystal clear even 14 years later. I remember praying hard to all the Gods in the Universe to just let him be healthy. Yes, as a new mother that was my biggest wish. Let my child be healthy, God! What did I know that the wishes will continue to grow manifolds as he got older?
Four years later, we were blessed with his brother. Our little family was complete. But our journey as parents had only begun. As the elder son stands on the cusp of becoming a young man, as a parent I want to give him everything that he aspires for. I know he has a million dreams. He has so many interests and aptitude that it overwhelms me. As far as possible, I want him to pursue his heart. As a parent my role is to guide gently and provide him all the opportunities that will let him spread his wings and reach out for the stars. Isn’t that what each parent wants at the end of the day?
Que sera sera (Whatever will be, will be)!
So, what do we do? Leave it to fate. Is the future really not ours to see?
That would be a very simplistic view and would not work in today’s world. Today, we save; we invest so that we will have enough to finance their dreams. But, to tell you the truth, my mind just boggles at the rising cost of education. Even their school fees are hefty at the moment. I break into cold sweat just thinking about how much will be enough for his higher education. Maybe, he will wish to study in some University abroad. The cost of that education will be completely out of our reach. I have no clue how much that will be.
I think it is important for every parent to be prepared not only to let go of their kids to chase the stars in their eyes as difficult as the separation is. But even more so to be prepared financially by staying one step ahead and by doing their homework in finding out every avenue that makes them multiply their savings.
That’s where I guess smart investing is a step that I advocate to all parents. You have to make your money earn you more money. Hence every penny that you invest prudently now will help you beat inflation and taxes and yield you a good payback. Apart from regular financial instruments like PF, FDs etc. which are long-term tools, I also invest in mutual funds. I get the benefit of investing in it by competent folks by going for top-rated mutual funds.
I know of many people who push investments and managing their finances on the backburner calling it complicated. Not me. To be financially fit and secure my children’s aspirations, I read regularly and do my homework about investment.
Speaking of homework, when I came across the #DoYourHomework video below, it intrigued me. After all it is the children who are asked to do their homework not the parents! And homework is never fun. But seeing the video actually made me realize how important it is for parents to do their homework. Watch the video and you will understand what I am talking about.
So yes, I need to keep doing this homework year after year to ensure that I do enough, save enough to fund my children’s aspirations.
Do you do your homework so that you are well informed and better prepared for your child’s future?
Share your thoughts in the comments.