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Question of the Day: Will you be subscribing to the new Disney+ R49 streaming package?
What / How do you save for your kids ?
- Thread starter Dolby
- Start date
diapason
Expert Member
Just bear in mind that when they turn 18 they can do what they want with the money. You will no longer have any control. Will they be sufficiently responsible at that stage?
Speedster
Honorary Master
If that's your concern, they don't have to know about it until you feel they're ready
Sideshow Bob
Honorary Master
This is what we are doing/aiming for.
1. Since birth of our son 4 years ago, every year, we both (wife & I) have been buying RSA retail bonds (I know, I know) with 5 year fixed rate maturity option. As per our calcs, his education is sorted out till age 10 right now even if there is some tax to be paid for interest every year. Hoping to sort out rest of education over next 7-8 years, including PG if he is so inclined.
2. Hoping to buy a apartment close by in next 10 years so that he would have a place to stay "when" he decides to move out.
1. Since birth of our son 4 years ago, every year, we both (wife & I) have been buying RSA retail bonds (I know, I know) with 5 year fixed rate maturity option. As per our calcs, his education is sorted out till age 10 right now even if there is some tax to be paid for interest every year. Hoping to sort out rest of education over next 7-8 years, including PG if he is so inclined.
2. Hoping to buy a apartment close by in next 10 years so that he would have a place to stay "when" he decides to move out.
Sideshow Bob
Honorary Master
aww.. you monster. Don't you like cute little versions of you/wife running around in the house?
Two nieces and a nephew is enough for me.
Nephew and one niece won't get much money from me because they’re UK citizens and my rands won’t go far. They can always live on the dole if things go pear-shaped.
Other niece is here in SA, and while I can't give her a fully funded TFSA, I would like at some point to open a trading account for her and teach her how to trade meme stocks. Then when we lose all the money, I'll open a TFSA for her and show her how diversified ETFs are better than meme stocks.
Of course, if the meme stocks blow up, I will end up teaching her the totally wrong lesson of putting your money into nonsense.
Jet-Fighter7700
Honorary Master
crypto, tiny investment that grows slowly?
I mean those trust fund kids who brought crypto early on are doing well for themselves.
I mean those trust fund kids who brought crypto early on are doing well for themselves.
Sideshow Bob
Honorary Master
Yeah, if anything these first-world kids must help out their uncles.
Sideshow Bob
Honorary Master
Sideshow Bob
Honorary Master
We didn't consider TFSA in kids name as then, his lifetime limit will be reached by the time he is 18 and then he can't really put anything in himself.