Today, every child will be celebrating Father's Day worldwide in recognition of their father's contributions for their welfare. This day is usually celebrated as fatherhood and male parenting day. Though Father's day is celebrated on various dates across the world, but majority countries consider it to be on the third Sunday in June. Among many other things one important thing that a child learns from their fathers is money discipline and perhaps even and investment methodology.  As they are the head of the family, they are expected to have a grounded mindset when it comes to managing finances and their hard earned money. Fathers also secure their children future by making investments at an early stage for their kids, so that when they grow up it can be used for their betterment. Becoming a father is one such epiphany. Many a time, new dads or dads-to-be are seen investing in more long-term schemes than they have ever done before. And it is a positive change within to want to bring up one’s child in a financially secure home.

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Archit Gupta, Founder & CEO ClearTax said, "People’s investment profiles are as diverse as they are. Some start off as passive investors, and at some significant milestone in life, become active investors. "

So, on this Father’s Day, here are 6 schemes you may want to invest in to secure your child’s future, as per ClearTax. 

Make the Most of Mutual Funds to Give Your Child a Hopeful Future 

One of the best ways to start the investing/saving journey for your child’s future can be through the simple yet highly rewarding channel of mutual funds. Systematic Investment Plans are not only a smart way to plan your finances, it is a disciplined way to build wealth for your little ones over a period of time. There are various avenues through which you can avail investments in mutual funds. With guidance and a little help even a novice investor can reap the gains of SIPs and mutual funds.

Build Your Child a Strong Financial Base with a Public Provident Fund Account 

A joint Public Provident Fund Account with your child is not only one of the safest forms of investments, but comes with an income tax exemption for 8 percent of the returns. This could serve as a good long term vehicle of investment for your child with the minimum deposit starting at only INR 500 per year. For the income that you earn through this investment which is made in your child’s name, you qualify for an annual exemption of INR 1500 per child for a maximum of 2 children.

Give Wings to Your Child’s Dreams with the Security of an Insurance Plan 

 Insurance plans customized for your child are built to serve not only the financial obligations in the case of a sad event or eventuality of your absence from their lives but also paves way for important milestones. These could be anything from your child wanting to go overseas for studies, pursue higher education, have career goals that require an investment or marriage expenses. Getting your child secure through insurance will make sure that their dreams do not take a backseat due to lack of financial resources.

Brighten Your Daughter’s Future with the Sukanya Samriddhi Yojana

This scheme is an excellent channel of investment for the dad’s who have a daughter and want to ensure that her upbringing is accompanied with the means to achieving her dreams. Initiated by the Government of India, the plan requires a minimum of INR 100 to start this account while the consequent deposits can be of any amount in multiples of INR 100. The fund matures when your daughter turns 21 though she is allowed partial withdrawal of funds at the age of 18 years. With 8.1 percent interest, 14 years of deposit time, and 21 years interest earning, this investment secures your daughter's marriage and/or higher education financial expenses.

Save and Grow the Traditional Way: Gold Investment

Gold has always been a popular investing choice and the benefits are further enhanced with the options of Gold ETF and Fund of Funds investment platforms. You can invest with an amount as small as INR 500 in Gold Fund of Funds through monthly SIP. This may not seem like a big amount in the short run, but the scheme has the potential to generate a substantial growth by the time your child grows up. What’s more, some Gold Funds are also treated as non-equity products and allow you to claim long-term capital gains tax benefit after a duration of one year from the time of investment.

A Piece of Real Estate Investment to Say that You Care

Real Estate is another area of investment worth looking at if you wish to purchase some property on your child’s name. Not only will the property garner a good return in terms of resale value, but a property purchased through a Beneficiary Trust on your child’s name ensures that any income arising from such a property is not included with your income. This investment assures guaranteed security for your child.

Prepared an Emergency Fund 

It is better to be safe than to be sorry, and when you have kids, it is often the wisest decision to have security for those unforeseen events that life sends your way unannounced, than to be caught off guard. Having an emergency fund is one of the most important steps in the creation of wealth. It guarantees that no matter what the scenario, your child will always have a blanket of security over them. What’s great about these funds is that you can start by saving as little as you can afford to and continue to add to this fund regularly. Small savings like these can build up to a significant sum when you are in dire need.

Gupta says, "These investment options serve to inculcate the discipline of savings while also benefiting you from tax exemptions."

Click here to know more investment options at Cleartax.