Shares in your daughters name??

[stoploss]

I did started doing this 18 odd years ago , purchased the shares $ 1000 a year ...transferred them into daughters name ... only problem is then seeing them when it all goes pear shaped like Pumpkin Patch ....
Subsequently I put some money into PIE Funds for them much better option . I think they have a 25 K min now so might not be an option .But ETF or managed fund would be a good way to go imo.

[GTM 3442]

One reason for doing this is to teach them about money, investment, and the options which are available. That includes making the (hopefully occasional small) loss.

I don't think it's fair on kids to send them out into the big wide world under the impression that the only possibilities are a bank account and a Kiwisaver fund.

At one time she was dead keen on an iPod. Bought her a tranche of RNS shares instead. Told her she could sell them if she wanted. It was fun watching the decision-making that went on.

She sold them, bought the iPod, and was insufferable when Renaissance went belly up.

[LAC]

I think its good to give them the opportunity to invest a small amount themselves when they have an understanding of $. Maybe when the divi comes about and they are old enough to do some research then let them invest that. I have family and friends who have all been given a heap of cash when they turned 18, 21 or 30 years old but have no clue on investment and end up buying cars, holidays or just leave it in the bank (not even on TDs). It's quite important that kids know the value and compounding effect of money IMO.

[Sideshow Bob]

I have a daughter, she is 6 also, and the part owner in Meridian (mmmm divvy coming Friday!).

The shares are in her name - I deal through Craigs, so did the paperwork through them. Might have needed birth certificate, bank account etc. She has her own CSN number and quite a long form but simple enough. Think any correspondence is c/- of me.

[minimoke]

I have sons so cant really contribute. I also have Scottish blood so not into giving money away.

They have a a kiwsaver account in high risk area.

Also get pocket money split into 2. half for saving, half for bank account that cant be touched unless they identify an investment. same goes with cash gifts - half gets spent half into the bank.

They have learnt interest rates arent great but compound interest is pretty powerful. They arent spenders (generally) so their spending ends up getting saved and put into investment bank account.

They havent had a shortage of opportunity to decide to withdraw cash and put it else where. One son was going to get into bitcoin and currency but decided against it. He is now first year university and his investment is now funding his study along with bloody interest free student loans which undermines my message there is no such thing as free money.

In the meantime I've been paying down the mortgage which has been a bit of a change in financial planning on my part part. Adult life has twists and turns and these have to be managed as a greater priority than the offspring

[alliswell]

Thanks one and all,..a lot of food for thought,...

[Beagle]

Would reccomend that you look into a smartshares ETF(s) http://smartshares.co.nz/ on the basis that you can invest as a little as 50.00 per month which would suit your current 20.00 per week.

I think that's ideal.