Ensure your children invest right
Create ‘commitment savings devices’ that will help them build wealth steadily
As a parent, are you forcing your son or daughter to buy a house early in his or her career? Your intention may be to inculcate disciplined savings; for the EMI paid on the mortgage every month is forced savings that translates into home equity. Such forced savings is called commitment savings. And the product or process that enforces such commitment savings is called the commitment savings device...
Read the rest of this article by Signing up for Portfolio.
It's completely free!
SIGN UP NOW
Investment alerts,End of day market reports, Market news analysis,External research reports and Technical calls
Daily update on Business and Market news via email
'Your Market Corner' Widget with personalized business and market news