Children's Day 2019 is being celebrated today on 14th November. Parents spend a considerable amount of time worrying about their children's future and there are a number of things which will require big amounts to ensure they do not end up with money problems when they grow up. In fact, all parents' goal should be to ensure their children become rich as soon as possible and this can be done only if they take some empowering steps. In short, they must start investing for their child right from early childhood. This could be an investment goal like marriage, higher education, home, medical insurance or even getting a lump-sum amount. 

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Pankaj Mathpal, MD, Optima Money Manager explained, ''You can gift anything to your children on the occasion of Children's Day but planning for their future is the best gift you could think of. Planning for medical expenses, education, fixed income, marriage, health for them are the parts of it. You should have plans for their better life, that could serve them in your absence too.''

So, if you want to make your child independent and rich to ensure a better life, then here are 5 such investment options, which can easily choose from this list:

1. Get hands-on equity:

Equity has become a great investment option for people nowadays and you can also look out for some mutual fund options for your children. However, mutual funds usually offer returns between 10 to 15 percent, can go higher or lower depending upon the category and market volatility.

''Equities can be a good option to invest. You can look for diversified options like stocks, mutual funds, ETFs, etc. But initially one should prefer starting with SIPs and progress as they understand it the markets. However they should stick to small investments initially and should invest what they can afford to lose,'' Mathpal added.

2. Risk-free options:

Sometimes it is better to invest in less risky or the options that are risk-free in nature. However, these tools fetch comparatively lesser returns but are a good option for long term fixed income. Investments in PPF, Fixed deposits or any other post office schemes are comparatively easy, hassle-free, risk-free options. They are secured and ensure fixed returns to the investor. Also, they provide decent interest rates between 7 to 9 percent p.a.

3. Insurance plans:

Well, an investment does not mean an asset that gives you returns in the future, but it could also be cover that stands for your aid in an emergency. ''Human life is subject to various life risks, therefore to take care of your child, you can invest some money in insurance schemes that can aid them in case of emergencies. You can invest various term plans, health insurance schemes, medical emergency schemes, accident insurances, etc for securing their life and medical contingency,'' explained Mathpal.

4. Sukanya Samridhi Yojana

Started as part of the government's 'Beti Bachao, Beti Padhao Yojana' for the benefit of the girl child, Sukanya Samridhi Yojana has emerged as one of the best long term investments for girl children over the last few years. This Sukanya Samridhi scheme allows you to open up to two accounts for girl children below the age of 10. The scheme offers a better rate of interest when compared to other EEE (Exempt, Exempt, Exempt) schemes. The interest rate on this scheme for the October to December quarter of 2019, the scheme offers an interest rate of 8.5%.

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5. PPF Minor Account:

A PPF Minor account can be opened with Rs 100 investment at any of the post offices or an authorized bank's branches. The investor will have all income tax exemption luxuries that he or she would be enjoying in own PPF account. The PPF Minor Account investor will get income tax exemption under 80C, all PPF Account interest and its maturity amount after PPF withdrawal will be 100 percent income tax exempted.

Also, keep in mind that the diversification of your investment portfolio is equally is an important aspect of investing right. It gives you exposure to many options like real estate, stock markets, mutual funds, a commodity like gold and silver, government schemes, bonds, debentures, etc. This way, if one investment option fails, at least the others will give good profit.

Happy Children's Day!