Howdy somersoftenites!
Our lil monkey (baby) has just turned one and we want to set aside an automated growing money tree for him
Have a basic "fund" with the ASF - Australian Scholarship Fund and now thinking if that was a good idea...
Like to ask for your wise advice and pick your brain for pro cons
Set aside money regularly in an index fund, eg vanguard?
(leave it to power of compounding and reinvested earnings)
vs
leave money in our offset?
(helps save us on interest and has a lump sum but not really growing in asset value...
Don't know of any other simple but effective set and forget options...
Would love your thoughts especially for those who've done it and benefit from hindsight
Thank you in advance
Our lil monkey (baby) has just turned one and we want to set aside an automated growing money tree for him
Have a basic "fund" with the ASF - Australian Scholarship Fund and now thinking if that was a good idea...
Like to ask for your wise advice and pick your brain for pro cons
Set aside money regularly in an index fund, eg vanguard?
(leave it to power of compounding and reinvested earnings)
vs
leave money in our offset?
(helps save us on interest and has a lump sum but not really growing in asset value...
Don't know of any other simple but effective set and forget options...
Would love your thoughts especially for those who've done it and benefit from hindsight
Thank you in advance