Hi guys I know it's a bit early as my baby is not born for another two months but it's never too early to start thinking about investing so he/she will have a deposit for a first house by the time they're 16-18.
I can't afford to put too much away to begin with as I won't be working for 18 months and bills don't stop. I can maybe only afford to put away $10 per week but it all adds up right?
As an initial investment vehicle I was thinking one of those high interest bearing bank accounts like CBA Net Saver. Can you open these up in baby's name so I don't have to pay tax on the interest earned?
Or maybe i should buy some shares. Or maybe a managed fund portfolio, how much do you need to start? What else is out there? If possible I want to put it in the bayb's name? Your thoughts would be most appreciated.
I can't afford to put too much away to begin with as I won't be working for 18 months and bills don't stop. I can maybe only afford to put away $10 per week but it all adds up right?
As an initial investment vehicle I was thinking one of those high interest bearing bank accounts like CBA Net Saver. Can you open these up in baby's name so I don't have to pay tax on the interest earned?
Or maybe i should buy some shares. Or maybe a managed fund portfolio, how much do you need to start? What else is out there? If possible I want to put it in the bayb's name? Your thoughts would be most appreciated.