Building wealth for your kids
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More and more Aussie families are looking for ways to build wealth for the young ones in their life. With interest rates falling and inflation continuing to bite into savings, traditional savings accounts are no longer enough. Families are looking for smarter, long-term alternatives to help their kids get ahead. Investing - especially when started early - can make a huge difference.
In this webinar, Tom Wilson and Phoebe Kohler walk you through how to invest for a child's future — simply, affordably, and with long-term impact.
Tom and Phoebe cover:
- How $50 a week could grow to $84,000 by age 18
- How to invest using shares, ETFs, bonds and more
- Account types: in your name, informal trusts, and beyond
- How to keep fees low and manage tax
- Tips for getting kids involved early
Check it out.
Free eBook
We've also put together a free eBook that shows you how to move beyond the piggy bank and start building real wealth for the young people in your life. You'll find practical info on investment options, tax traps to avoid and choosing the right account structure. You can download a copy here.
Ready to start investing for your child or grandchild? InvestSMART has a range of diversified portfolios that all come with a capped management fee. If you'd like help selecting the right style of portfolio for you, check out our free statement of advice quiz. It will show you which InvestSMART ETF portfolio may best suit your goals and investment timeframe.
Frequently Asked Questions about this Article…
With interest rates falling and inflation impacting savings, traditional savings accounts are no longer sufficient for building wealth. Investing offers smarter, long-term alternatives that can significantly benefit children when started early.
By consistently investing $50 a week, the power of compound interest and market growth can potentially grow the investment to $84,000 by the time a child reaches 18, assuming a reasonable rate of return.
Investment options for children include shares, ETFs, bonds, and more. These options can provide diversified growth opportunities over the long term.
Suitable account types for investing for a child's future include accounts in your name, informal trusts, and other structures that can help manage tax and fees effectively.
To keep fees low and manage taxes, consider using investment accounts with capped management fees and explore tax-efficient account structures. It's also important to be aware of potential tax traps.
Getting kids involved early can be achieved by teaching them about the basics of investing, involving them in investment decisions, and encouraging them to save and invest their own money.
InvestSMART offers a free eBook with practical information on investment options, tax considerations, and account structures. Additionally, their statement of advice quiz can help you select the right ETF portfolio for your goals.
InvestSMART's diversified portfolios come with a capped management fee, providing a cost-effective way to invest. These portfolios are designed to suit various goals and investment timeframes, making them a suitable choice for building wealth for children.
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