When it comes to our children, we all want what is best and we all agree that putting a little aside for them now would be ideal so you can get ahead with finance for your kids. As Ben Nash points out (with crossed fingers,) it will also hopefully be appreciated.
According to Ben, things aren't getting much easier for the property market but that being said, it doesn't mean there aren't options available to us when looking to give our kids a leg up!
Ben points out a few:
- Cash
- Shares, managed funds or ETFs
- Property
- Crypto
- Superannuation
It's not always about what to do but more about which combinations will get you the right outcome in the time you set aside.
We let Ben explain more about each of the options.
Key callouts so you can get ahead with finance for your kids
Investing for your kids for the long term will give you high confidence with a lower risk Check out micro-investing apps – these could work with the sub-account feature. Invest in your own name, not your child's. Your child's age could attract a higher rate of tax Jump onto the MoneySmart website and have a look at their compound interest calculator
The Care for Kids team is so fortunate to be able to bring Ben's knowledge and understanding of family finance to the forefront of our Parenting Playbook and would love to help you too! If you've got a question you'd like Ben to answer, get in touch with the team and we will forward that question on.
Ben Nash. Financial Adviser and the founder of Pivot Wealth, helping people invest smarter so they can create a life not limited by money.
He runs regular live online events which you can check out here. | Follow Ben on TikTok | Linkedin | Instagram | Facebook
Pre-order Ben's book, ‘Replace your salary by investing' today!
Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it, and where appropriate, seek professional advice from a finance professional.
