Starting a pension for your children?
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blondie
Apprentice
Joined: 09 Aug 2007
Posts: 5
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 Posted: 01/21/08 - 11:49 Post subject: |
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| My husband and I have a son who’s still in school and wants to go to college. We are not rich people but we both think that it’s not too soon to start a pension fund for him. I would like my child to be secure in the future and I would like to know is this something many people do. My friends think that starting a pension for a child is ridiculous, but there are some people who think that it is very wise decision. |
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issiah
Apprentice
Joined: 29 Mar 2006
Posts: 4
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| Posted: 02/19/08 - 22:59 Post subject: |
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| I must say that I don’t know many people who would start a pension for their child. It is possible that you have some savings and want to do something wise with that money, but there are so many opportunities for investing money. However, I understand your wish to make your child’s future better. There is no law against starting a pension for a child and there can be some benefits from it, like lower tax rates. It is possible to pay this money on a monthly basis and also once a year. Often, grandparents do such thing and they usually don’t regret investing in their grandchild’s future. |
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