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One fund for long term saving
I am thinking about setting up a separate Sharesies account to invest in one fund for my 5 grandkids (combined). I know I could set up kids accounts for them with reduced fees, but to do that I need IDs, parental permission etc etc. I don’t want to do it that way for various reasons. I just want to invest a little each week for them, for the next 10-15 years or more, separate from my own investments. Won’t be telling them about it - will just let it grow and see what happens down the track.
I am thinking USF would probably be the best fund. Comments, feedback, suggestions? Not talking big amounts of money here. Just a way for me to do something for them.
Last edited by justakiwi; 12-02-2020 at 10:28 AM.
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Member
Great idea. What about TWF Total World Fund - you get a lot of the US in there, plus also exposure to the rest of the world.
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Originally Posted by justakiwi
I am thinking about setting up a separate Sharesies account to invest in one fund for my 5 grandkids (combined). I know I could set up kids accounts for them with reduced fees, but to do that I need IDs, parental permission etc etc. I don’t want to do it that way for various reasons. I just want to invest a little each week for them, for the next 10-15 years or more, separate from my own investments. Won’t be telling them about it - will just let it grow and see what happens down the track.
I am thinking USF would probably be the best fund. Comments, feedback, suggestions? Not talking big amounts of money here. Just a way for me to do something for them.
DON'T DO IT!
Either invest if for yourself and leave them a couple of dollars each in your will or put the money to your justakiwi treats (wine/chocolate/bubble wrap to pop) fund.
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True. That could be an option too. Thanks
Originally Posted by Pipi
Great idea. What about TWF Total World Fund - you get a lot of the US in there, plus also exposure to the rest of the world.
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Originally Posted by Snow Leopard
DON'T DO IT!
Either invest if for yourself and leave them a couple of dollars each in your will or put the money to your justakiwi treats (wine/chocolate/bubble wrap to pop) fund.
Remind me again how many children and grandchildren you have? Disc-Have 2 children and 4 grand ones.
Last edited by couta1; 12-02-2020 at 11:30 AM.
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Four grown kids and 5 grandkids (including a step granddaughter). When I die, whatever I have will be split between my kids. If any of them die before me, their kids get their share. If I drop dead tomorrow my total estate is worth maybe $40,000 (I have no property) so we are talking small bikkies. Quite depressing when I look at that figure but hey, it is what it is.
Originally Posted by couta1
Remind me again how many children and grandchildren you have? Disc-Have 2 children and 4 grand ones.
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Originally Posted by justakiwi
Four grown kids and 5 grandkids (including a step granddaughter). When I die, whatever I have will be split between my kids. If any of them die before me, their kids get their share. If I drop dead tomorrow my total estate is worth maybe $40,000 (I have no property) so we are talking small bikkies. Quite depressing when I look at that figure but hey, it is what it is.
Its all about your heart not the amount, I like that story in the bible about the widows mite.
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Whatever you decide to do, may I suggest you talk to the grandies about it. You are teaching them financial literacy, little by little. Like for example occasionally tell them they own a little tiny bit of company x, choosing a company in the fund that they might relate to. Maybe show them the Sharesies balance time to time and explain why it has gone up and down.
Just talking about a sentence or two now and again. Not a lecture.
I've been working on this in my family for a long time ... getting there.
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Pie Funds , Australasian Dividend fund is on sharsies .
I put some money in this for my kids 8 years ago , a dollar in ( div reinvested) is now $ 3.30 . Very happy.
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