Saving for children – so your child becomes a millionaire, fip

Saving for children – How your child becomes a millionaire (including the best tool for child care)

Born in January, February or March, or is your child unlucky? And what does that have to do with saving for children?

Most of the successful ice hockey players in Canada were born in January, February or March. Of course, it has nothing to do with the zodiac sign of the players. In Canada, January 1st is the limit for age groups. That means someone who was born on January 2nd plays together with children up to 1 year younger.

The year difference is huge among children. The “best” players will then be nominated in All Star Teams. There they get more intensive coaching and their teammates are better. With all this extra training, the children will actually be better at some point and will be able to move up to the higher leagues more easily. The unlucky birds that were born later are sorted out.

As a mom or dad, you can’t really do anything about it. You cannot choose whether your child will be born on January 1st or on January 2nd. You cannot influence that.

When it comes to whether your child will become a millionaire or not, you can influence

Imagine that you could give your child (or children) the advantage of children born in January, February or March. However, not an advantage of a “sporty” nature, but a financial advantage.

This is exactly what we will analyze in this article.

We look at the following topics:

  • When should your child become a millionaire??
  • What exactly do you have to do and what are the best tools for your child to become a millionaire?

Let’s start with …

When should your child become a millionaire??

Sounds strange to the question, doesn’t it? How are you supposed to decide that?

Of course, you can put a lot of energy and attention into the education, development and life of your daughter or son. But is this a guarantee that your child will have € 1,000,000 in the account at some point?

Not really. That’s not the point. But if you want, you can now make the decision that your child will be worth millions at some point. And by starting soon enough with a sensible saving. Saving for children doesn’t have to be tedious.

Let’s look at a few scenarios …

One million euros at 50

What is necessary so that your child has a million euros at 50?

You invest € 10,000 once and save € 230 per month.

If we do this for 50 years and make an average of 6% (read the articles Are stocks really that risky? An analysis without bullshit and unit-linked life insurance: you need to know this to be successful in the long term & To invest money inexpensively to see that 6% are not unrealistic), then after 50 years we have just over a million.

Yes, we ignore taxes, costs & Co.

230 € per month and the 10,000 € at the start are quite a lot or?

That depends on whether you have to bear the costs entirely on your own.

Here are a few ideas to change that:

  • Very often grandma, grandpa, aunt or whoever does something for the grandson or niece. Instead of putting the € 50 in a home saver and then extending the home saver 6 years later and then extending it again after a few years, you’d better spend this money on the project "My Child Becomes a Millionaire" use.
  • How about all the gifts your offspring get? What if you let your relatives and friends know about your plan. And instead of giving away four “Disney characters”, there are only three. The money for the fourth figure goes into the millionaire pot.
  • Think about your gifts yourself – what if I took a part and put it in this pot instead of buying the seventeenth soft toy? What will your child benefit more from in the long term?

By the way, it is not about giving your child nothing more, but about putting part away for later

When it comes to saving for children, ask yourself the following question:

  • How many of your friends do you know who are still very disappointed because they didn’t get the action figure XY at the age of 6??

What about the following question:

  • How many of your friends and colleagues would like to have had a large financial cushion after their studies to go on a trip around the world? Or trying out a career path that is initially poorly paid?

(Brief note: yes, after graduation is not at 50, unless your child wants to give the term "long-term student" new meaning &# 128521; .… later more)

As a mom or dad, YOU can decide whether to invest money in your children’s childhood or adulthood

Your child is unable to make far-reaching financial decisions. You already. As mentioned above, you can find a compromise. A part for the here and now and a part for your adult child (to all those at adult child think of your partner right now: No, I really mean your offspring &# 128521; ).

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Christina Cherry
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