We go through life caring for our children, protecting and helping them any way we can. As we get older, they become our primary focus. We want to share our success with them, help them any way we can, give them the very best chance in life.
Whether your children are young, teenagers or parents themselves, being able to help them financially, having the funds to say “yes” to that school trip or “yes” to the best college will give them the leg-up needed for a more prosperous life.
To support your children financially, you first have to be confident in your own financial future, which the experienced financial advisors at Centaur Financial Services can assist with.
Small saving tips like skipping a morning coffee or putting gold coins in a jar rather than your wallet can quickly add up to significant savings. Simplifying your financial position while your children are young will also go a long way towards your children’s private education and college fund.
One of the best ways to help your child financially is by setting up an investment bond.
Investment bonds are a cross between an investment portfolio and a life insurance policy. They let you invest on behalf of your child (or grandchild), with the ownership being transferred automatically to your child on a future set date of your choosing. It may be when they graduate college or turn 18 etc.
Investment bonds are accessible, flexible, and considered to be the most tax-effective structure besides superannuation. However, unlike superannuation, there’s no limit to how much you can put into them, and you don’t need to meet a condition of release.
Due to their tax-effectiveness structure, investment bonds are an excellent way for parents to help pay for significant expenses like their education, a car, or a house deposit.
If you’d like help securing your financial future, simplifying your financial position or setting up an investment body on behalf of your child, turn to the award-winning financial advisors at Centre Financial Services. We can review your financial position and provide tailored advice to help you best help your children financially.
The information provided on and made available through this website does not constitute financial product advice. The information is of a general nature only and does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you obtain your own independent professional advice before making any decision in relation to your particular requirements or circumstances. Centaur Financial Services do not warrant the accuracy, completeness or currency of the information provided on and made available through this website. Past performance of any product discussed on this website is not indicative of future performance.
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