I have 2 young children and another on the way. I have been putting some money aside in an account to start saving for their education. Can anyone recommend a good managed fund that I could put the money in and keep topping up that will provide good returns with not too many fees.
i used to put money aside in managed funds, but I really disliked the management fees!!! yuck. It can be so high.
In my personal opinion, I would suggest to put money in Index funds or ETFs instead as the management fees are much lower – that's what I would do
Alternatively (and depending upon your cashflow tc) you could consider insurance bonds, need to be opened with an initial deposit then you can only add a certain amount annually. As they are for 10 years +, there is no tax payable on interest earned. Definitely worth looking at especially for long term investment horizons.
mattsta wrote:i used to put money aside in managed funds, but I really disliked the management fees!!! yuck. It can be so high.In my personal opinion, I would suggest to put money in Index funds or ETFs instead as the management fees are much lower – that's what I would do
Thanks – I will look these up as am not sure what they are. Cheers
Scott No Mates wrote:Alternatively (and depending upon your cashflow tc) you could consider insurance bonds, need to be opened with an initial deposit then you can only add a certain amount annually. As they are for 10 years +, there is no tax payable on interest earned. Definitely worth looking at especially for long term investment horizons.Thanks mate – this is interesting too. WIll look into these. My eldest turns three this year but will have 2 younger ones also so its definately a 9+ year plan.
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