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Member
Shares for children
With Bonus Bonds becoming a thing of the past, I'm looking at where we can put the $100 for birthdays and christmas for the grandkids. I'm thinking Sharesies might be the best option, but also I'd like to invest in some australian shares for them and it doesnt look like I can do that with Sharesies. I'd quite like to take the money in their bonus bonds now (about $1k) and put that lump into an ASX share that I think has long term potential. How can I do that. Can I buy them with my own account (Direct Broking) and do a share transfer? How do I transfer shares to someone if they dont have any shares at the moment. Feeling a bit lost on this.
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Originally Posted by suse
With Bonus Bonds becoming a thing of the past, I'm looking at where we can put the $100 for birthdays and christmas for the grandkids. I'm thinking Sharesies might be the best option, but also I'd like to invest in some australian shares for them and it doesnt look like I can do that with Sharesies. I'd quite like to take the money in their bonus bonds now (about $1k) and put that lump into an ASX share that I think has long term potential. How can I do that. Can I buy them with my own account (Direct Broking) and do a share transfer? How do I transfer shares to someone if they dont have any shares at the moment. Feeling a bit lost on this.
Via Sharsies you have access to the pie funds Australasian dividend fund .
https://www.piefunds.co.nz/Performance-and-Unit-Prices
Min investment is normally 25K so this is an awesome way to get in .
Suse I used to put 1000 a year into a company and transfer into my daughters name . But you have individual stock risk and even good things ( pumpkin patch) can go bad . So better let a professional do it and when something changes they can turf it out of the portfolio ....
I have the dividends reinvested and as you can see from the past performance they have done very well .
Last edited by stoploss; 02-09-2020 at 10:43 AM.
Reason: add info 7 Link
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Member
crikey that growth 2 fund has a pretty healthy return!!!
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Originally Posted by suse
crikey that growth 2 fund has a pretty healthy return!!!
Yes , one of the few places I trust my money with .
Basically a dollar in for my girls 8 years ago ( reinvested) is over 3 ...... in the dividend fund . Just have to keep the balance secret from the boyfriends
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Member
Originally Posted by stoploss
Suse I used to put 1000 a year into a company and transfer into my daughters name .
So do you mean I could just do a off market transfer of shares I own (or decide to buy) and put them in the kids names?
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Originally Posted by suse
So do you mean I could just do a off market transfer of shares I own (or decide to buy) and put them in the kids names?
yes you can , but then operationally it became difficult when things changed . As I Understand it children can't trade shares so when things went wrong ,I wasn't able to get out for them .... Might have been better in a Trust with them as a beneficiary,but compliance involved in that as well.
My experience is ,best let the experts do it,saves an awful lot of time and hassle .....
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Member
Originally Posted by suse
With Bonus Bonds becoming a thing of the past, I'm looking at where we can put the $100 for birthdays and christmas for the grandkids.
Did Bonus Bonds actually give a return? I heard that most of them don't, so your money just got eaten away by inflation.
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With the thread being shares for children, can Sharesies have accounts that are fully in the child's name rather than Parent (Child account)?
My children have accounts with ASB and NABTrade but as they are the Parent (Child account) type I am still up for the tax and so don't use them.
With InvestNow the account can be fully in the child's name so I now use this to invest for them although there are only only ETFs and no direct shares.
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Member
Originally Posted by Cricketfan
Did Bonus Bonds actually give a return? I heard that most of them don't, so your money just got eaten away by inflation.
They used to, there would often be an envelope (remember those?) arriving with a $20 to $100 tax free prize. I likely still have a few but took almost all out a few years back to use for better purposes. I'd perhaps better follow up on my Premium Bonds in the UK too.
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Yeah I understand there were prizes, but typically what would the annual return have been? More than a term deposit?
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