Have children? Now, re-write the traditional methods of parenting, secure your kids' future

Investment for children has always been a challenge for parents because in this task they need to prepare today for a better tomorrow. Investment opportunities have changed in the recent decade or so, especially after globalisation. So, what used to be a better investment for children in the 80s and the 90s, has become a dead option now. Today's investors have moved forward from bank FDs and PPF because they have options like mutual funds, equities as these give double-digit returns on their money.

Speaking on the ways one can invest for better and secured future of one's child, Anjali Malhotra, Chief Customer, Marketing, Digital and IT Officer, Aviva Life Insurance said, "In the 21st Century, opportunities have diversified and today there are much more career and growth options available than what was there in the early 80s and 90s. Even parents today are much more aware of these opportunities and have the means at their disposal to re-write the traditional methods of parenting. However, what hasn’t really changed is the way parents continue to dream about the bright future of their children. While the child, as an individual has its own dreams and aspirations, parents too along with their children explore, identify and pursue the best available options to aid and nurture their dreams for a safe, sound and accomplished future in a more interactive fashion; involving and educating their ward about the secure routes and options for their future journey."

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While modern-day parents are already armed with a lot of means and knowledge to ensure better parenting, below are few tips from Anjali Malhotra of Aviva Life Insurance for parents to ensure a brighter and a better future for their kids:

1] Let your child dream big
Kids are growing up faster than ever, making it imperative to start nurturing their dreams from an early stage. While the child continues to grow towards achieving their goals and realizing their dreams, parents must foster a rich environment to enable their child to become a big dreamer by either introducing them to historical inspirational dreamers or by becoming role models, themselves, for their kids. This will help the child carry on their free spirit and youthful passion into adulthood.

2] Let your child realize their big dream
With the advancement in technology and diversification of options, parents today, have a lot of means at their disposal and they must try everything possible to keep the passion and dream of their child alive, no matter how unrealistic or difficult it might seem. While everyone is racing against each other at every moment to ensure they seize the opportunity, parents should support their ward in their big quest and try to understand their needs so that they can provide them with the assistance they need.

3] Ensure your child’s holistic development
Today there are multiple tools and technologies available that allow parents to identify their child’s inherent talents. There are online platforms like Aviva Kid-O-Scope, that allow parents to identify their child’s inherent talents through a series of psychometric assessments and then nurture them with curated content and activities at a later stage. This would ensure parents understand their child better, thereby making them better guides towards their child’s development.

4] Use online talent detecting tools
Millennial parents want to raise their child as a go-getter, as someone who is passionate about their dreams, are kind, creative and as individuals who do not quit. But to ensure all these, parents need to identify their child’s talents and understand their child better. In order to overcome these challenges, millennial parents should explore structured aptitude assessments that include expert guidance and can be used to understand the cognitive skills and capabilities of their kids. Such assessment programs provided by trusted insurers like Aviva Life Insurance through their one-of-a-kind program Aviva Kid-O-Scope enable parents to partner with their child’s aspirations and give them more robust and evidence-based results to measure the traits of their children.

5] Start planning early
While millennial parents today are resourceful and have a lot of readily available information, yet, most of them continue to be poor financial planners with a majority of them having little or no financial planning about their child’s higher education. Due to this, often, they do not have enough savings and end up going in debt paying for their child’s higher education.

Hence, it becomes imperative, in today’s time to start planning finances to ensure, neither the parents nor their child face any obstacle in their path to realize their dream.