KIDS030 Giving the gift of investing (600 words)

When cash rates are low, what is your best option to save for your child? Utilising a case study, we compare a traditional savings account with a share portfolio, including the tax and tax reporting implications. Trusts are also discussed as an additional option, and we close with a reminder to seek professional advice before making any decisions.

Did you have a savings account when you were young? It wasn’t uncommon and those old Passbook accounts funded many a first car.

Now you’re a parent, are you thinking of opening an account for your kids? Record low interest rates have taken some of the fun out of watching bank accounts grow, but there are alternatives.

For example, have you considered a share portfolio?