Streaming issues? Report here
money-show-thumbnailjpg
The Money Show with Bruce Whitfield
18:00 - 20:00
volume_up
volume_mute

Up Next: Tonight with Lester Kiewit
See full line-up
The Money Show with Bruce Whitfield
18:00 - 20:00
Home
arrow_forward
MyMoney Online

How to best save and invest for your children

20 September 2019 3:08 PM
Personal finance advisor Warren Ingram has advice for parents wanting to ensure an excellent education for their kids.

Ray White (in for Bruce Whitfield on The Money Show) asked Warren Ingram, a personal finance advisor at Galileo Capital, the following questions:

  • If you have very young children - how and when should you start saving for them?

  • Should parents buy education policies for their children? What about costs?

  • If you don’t like education policies; where should parents save for their children?

  • What about the risks of children spending all the money when they turn 18, enabling them to cash in their investments without parents’ consent?

  • Should financial education be part of the gift that parents give their children?

For answers to the questions listen to the interview in the audio below (or scroll down for quotes from it).

It’s not a good idea to save in your own name... it has tax implications… Do it in your child’s name…

Warren Ingram, Personal Financial Advisor - Galileo Capital

Make it easy as possible for friends and family to contribute…

Warren Ingram, Personal Financial Advisor - Galileo Capital

I don’t think so [when asked if education policies are the way to go]…The issues are costs and practicality…

Warren Ingram, Personal Financial Advisor - Galileo Capital

Start looking at a Tax-Free Savings Account from the moment they’re born… That would be a heck of a gift!

Warren Ingram, Personal Financial Advisor - Galileo Capital

You can exercise parental control right up to your child’s 18th birthday… You’ve got to start their financial education… the real gift is actually financial education…

Warren Ingram, Personal Financial Advisor - Galileo Capital

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


20 September 2019 3:08 PM

More from MyMoney Online

Discovery, Sandton

Why Vestact is buying Discovery (JSE), Long4Life (JSE) and Booking.com

22 October 2019 8:31 AM

Portfolio Manager Byron Lotter shares his stock picks of the week with Bruce Whitfield on The Money Show.

Share this:
Read More arrow_forward

Divorce

Considering divorce? How to avoid getting poorer in the process

17 October 2019 2:43 PM

Personal finance expert Warren Ingram warns that divorce almost always destroys wealth. Here’s how to not lose your money.

Share this:
Read More arrow_forward

islandjpeg

How to save and buy an island (you need only R2000 per month)

15 October 2019 3:36 PM

Saving money on boring stuff such as a car can allow you to do really outrageous and courageous stuff, says Sam Beckbessinger.

Share this:
Read More arrow_forward

standard-bank-bjpg

Why Mergence Investment Managers is buying Standard Bank and Mr Price

15 October 2019 11:46 AM

The Money Show’s Bruce Whitfield asks investment analyst Nolwandle Mthombeni to share her stock picks of the week.

Share this:
Read More arrow_forward

Hourglass cash money

5 retirement saving tips for those who left it late

14 October 2019 2:48 PM

It’s better to start late than never! The Money Show’s Bruce Whitfield interviews Jeanette Marais.

Share this:
Read More arrow_forward

big-mac-indexpng

Believe it, or not – the cost of living in SA is amongst the lowest in the world

14 October 2019 1:11 PM

If only we earned more – we’d be rich! Kieno Kammies interviews Certified Financial Planner Paul Roelofse.

Share this:
Read More arrow_forward

woman-piggy-bankjpg

Enjoy life and save for the future by splitting income using the '50/15/5 rule'

14 October 2019 10:30 AM

You only live once — personal finance guru Warren Ingram on divvying up your income if you're not the budgeting type.

Share this:
Read More arrow_forward

Growth

How to start saving and investing money

11 October 2019 12:08 PM

Unless you're über-rich, saving money is a must. But it’s not easy. Arabile Gumede talks to personal finance expert Warren Ingram.

Share this:
Read More arrow_forward

Loan lending

Lending money to family – what to do, and what not to do

11 October 2019 10:07 AM

Don’t do it! But if you must, you may want to consider personal finance expert Warren Ingram’s advice.

Share this:
Read More arrow_forward

tax-refundjpg

How to get a nice, fat tax refund from Sars (a guide for business owners)

9 October 2019 2:57 PM

The Money Show's Bruce Whitfield interviews Daniel Baines, author of "How to Get a Sars Refund for Small Businesses".

Share this:
Read More arrow_forward