They’re only four years old or younger ... but it’s never too early to start building wealth for the future
NAME: John Prentice
STATUS: Retired grandfather of three young boys.
QUESTIONS: I would like to put aside $1000 a year for each of my three young grandchildren, who are aged from 18 months to four years. What is the best way to invest? Should I set up one fund for all three or set up three separate funds?
ANSWERS: Hold your grandchildren’s investments in your name, perhaps with an account designation. While one account may save you money, three separate accounts will give your kids a greater sense of ownership and they may like to contribute to them when they are older. As an investment, our experts’ suggestions include low-cost, diversified exchange traded funds.
Denne historien er fra August 2017-utgaven av Money Magazine Australia.
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Denne historien er fra August 2017-utgaven av Money Magazine Australia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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