Edelweiss MF’s Radhika Gupta, a few days ago, shared five tips on how parents or guardians can start investing for their minor kids. Her post created a chatter, prompting people to ask several questions. Some also shared their doubts that they wouldn’t be able to acquire a PAN card, open a bank account or invest in a fund for their kids. Reacting to these, Gupta shared a post and wrote, “Myths about investing for a minor”.
“You can get a PAN for a minor as soon as they are born. You need a birth certificate and Aadhar first. You can open a bank account for a minor,” the Shark Tank judge wrote.
Also Read: Edelweiss MF’s Radhika Gupta shares 5 tips on investing for your child
Radhika Gupta added, “You can invest for a minor in their name in an AMC in regular funds (not just children’s funds).”
Take a look at the entire post here:
Since being shared a few days ago, the post has collected more than 1.6 lakh views. The share has further accumulated nearly 500 likes. People posted varied comments while reacting to the share.
What did X users say about Radhika Gupta’s post?
{{/usCountry}}Since being shared a few days ago, the post has collected more than 1.6 lakh views. The share has further accumulated nearly 500 likes. People posted varied comments while reacting to the share.
What did X users say about Radhika Gupta’s post?
{{/usCountry}}“Done with Aadhaar, PAN, passport and Demat account for my 11-month-old. I have also applied for a few IPOs from his minor demat account. Can I also invest in mutual funds, mam?” asked an X user.
“I have already invested in MF for both my minor kids in their name with my PAN (as guardian). In fact, doing this for 7-8 years using MF Utility. Online and direct,” added another.
Also Read: Edelweiss MF CEO Radhika Gupta’s 2-year-old son’s investment portfolio outperforms her own returns
“Unfortunately, there's no online process to invest directly on a minor's behalf and simply no online, easy-to-follow process, and no one to help either,” joined a third.
“Good that the existing minor folio can be managed online now. Saving for my child’s college education with a large and mid-cap index fund,” wrote a fourth.