Money Mastery with Marshy #70 - Micro-Investing for Kids (Our sons first $1,000)
We opened up a Raiz kids account for Clifford & started putting $10/week into it.
Raiz is a micro-investing platform where you can automate investing with small amounts.
Cliffy’s money gets invested in index funds through the platform.
Think of index funds/ETF’s like a pepperoni pizza.
Each individual slice of pepperoni represents a company (like Woolworths, Commonwealth Bank or BHP).
When you buy an index fund, you are buying the entire pepperoni pizza. And so you get immediate diversification across a range of great companies.
And if one company goes bust, you won’t lose your money. A new pepperoni slice will emerge and fill its position.
Little Cliffy’s Raiz account just hit $1,000 for the first time!
A great little milestone for the young chap. He has more saved than 3.4 million Aussies. (Damn that’s alarming).
Anywho,
This is not financial advice by any means. As a financial coach I am not licensed to tell you what investments to put your money in. Always do your own research, seek expert advice, and always take responsibility for your investment decisions.
This has been a fun little way to start compounding assets for Cliffy.
I look forward to teaching him how compound interest works when he’s a little older to understand.
I hope you enjoy this episode.
Marshy
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