Hi Guys,
I read an article a few months back see link
http://www.moneyweb.co.za/moneyweb-investment-insights/save-until-your-kids-are--50I am thinking about doing something similar, My son is 2 months old and this would be the perfect opportunity to save some spare cash for my son.
I worked out that a once off investment of R1000 over 50 years @ 15% return ( inflation inc ) would yield R 1 000 000 or 1 Million, which I worked out to be worth 55k devalued at 6% over 50 years.
so how do i go about this , is it feasible , how can i ensure that my kid(s) dont use the money before hand.
1. should i invest in a unit trust ( allan gray or coronation )
2. EFT's , what are my options here ?
3. Buy blue chip stocks ?