Did you know the average young australian (18-24) is $4,500 in debt?
We’re not the only ones thinking that this isn’t good enough - to have your children ahead of the pack essentially all they need to do is avoid credit cards and that needs to change. Many parents are thinking about how their children are going to be able to buy houses, chase dream careers, start their own businesses or just have financial freedom in general.
Is investing small but early amounts for your children the answer?
We recently spoke with Fledged
Founder, Andrew Purchas to discuss their mission to provide all Aussie kids with the strongest possible start to life, and ensure they can achieve financial independence once they leave the family nest.
"More and more parents are realising that you don’t need to be a financial genius, born from a generous trust fund to invest"
, explains Andrew.
A small amount invested regularly for your child can be life changing, especially if you start early. If you:
You’d have a $41,672 dollars on your child’s 18th birthday.
Beats $4,500 in debt right! Imagine if they kept investing beyond 18 as well thanks to you?
Try this out yourself with the free compound interest calculator for children.
What is the simplest thing that I can invest in?
"You don’t need to do hundreds of hours of research to find winning companies, you can just invest in index funds,"
An index fund is a collection of companies. For every dollar you invest in an index fund, that dollar is automatically split across hundreds, sometimes thousands of companies that have a proven track record here in Australia or across the world.
The not so good:
There are many index funds to choose from which has selections of companies such as below:
"Many parents aren’t sure where to start so if you want some help, check out what we do on Fledged
", says Andrew.
is an Australian company that makes it simple for parents to set up investment funds for their children. Fledged
help parents in the following ways:
Check out their website to find out more and sign up to their waitlist ready for when they launch later this year, or follow Fledged on Facebook or Instagram if you just want to stay up to date across this space.
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