Jul 25, 2016 3 min read

Make this parents day a dream for your parents

Hold your parents hand and let gift them the same pride which they had once given you. Learn how you can make them financially independent even after they retire.

PARENTS the most precious and important gift that a child can ever get. Not only as kids but we need our parents in every walk of of our life. To be around them brings a sense of security which gives us the strength of winning the entire world. Mother and father play very important roles in our lives. A mother nurtures us and caress us to sleep when we have trouble while sleeping. She is our first teacher who makes us learn how to deal with life. At the same time father is the pillar which supports the delicate dreams of a child and slowly introduces them with the reality of life. He may be a little harsh sometimes but it is for the benefit of the child. Altogether, the parents invest their money, time, energy and life for the welfare of their children and to secure their future.

Taking a step forward now is the time for you to take up the responsibility of securing the financial health of your parents. The children who have attained an age where they can fund their parent’s certain needs. As they have invested their entire life for us now it is time to take up the initiative to show our compassion towards them as it is impossible to repay back what they do for us.

Here is presenting a few tips as to how you can gift a financially secure future to your parents.

Take up your responsibility yourself
It is true that in India parents care for their children beyond their capacity and age. During the education process of the child they have worries regarding the marks and position. When he/she steps out of the college career become the next level of tension. Each and every step of a child bothers their mother and father the most. Tension is a natural feature that the parents are born with (especially mothers). One cannot reduce that but the financial burden can be zeroed if we as children learn to take up the responsibility ourselves. Paying our bills, planning for future, investing and managing the expenses well. So, you can opt for long-term mutual funds like equity-oriented schemes which will help you to satisfy your long-term investment needs. Whereas, liquid funds would allow you to fulfill the short-term investment needs. It would not only make you independent but will also relax your parents from the financial worries.

Gift your parents their dream vacation
By the time you graduate from your college and take up your career, your parents might have reached an age where they would be retiring within 10 years. It is a perfect time slot for you plan for a dream vacation (if they have any dream destination) or you can also gift them a world tour as soon as they retire. Thus, as soon as you commence your job you can start investing aggressive schemes of mutual funds so as to get a copious amount for planning a lavish tour for your parents. One make use of the SIP booster facility to increase the monthly amount as and when he/she gets an increment or you feel to invest more through SIP plan you have opted.

Plan for the unforeseen
Ask yourself will be able to take care of your parents in their bad health? As your parents will age they will encounter many new problems everyday. They would have health problems and sometimes they can be very serious and you would prefer to give them the best treatment ever. For that you would require a lot of money and as it is a sudden expense you might not be able to meet it with your limited resources. You must start investing for that now so that at the time of emergency you would not require to seek any ones help to cure your parents. You can take their responsibility as they took yours when you were kids.

Thus, a financially sound life would be the best gift you can ever give to your parents who have worked day in and day out for your betterment and mutual funds will help you to achieve it easily.