How to save money for your kids' future using the Acorns app. The speaker recommends automatic investments in Australian and US stocks, which use dollar cost averaging to build wealth over time for education, housing deposits, or cars.
So I always get asked by clients, how do I save for kids education? How do I save for anything to do with my child, whether it be a deposit for their first house or their education or their first car. So many different ways to actually improve that for you and your child. The first bit of advice I'd be looking at is I'd be setting up Acorns, a C O R N S as an app on your phone. And I'll be putting the $200 into the acorns account, which you can see and you can touch. Acorns is invested into the top 200 stocks in Australia, the, the top 500 stocks in the US and because it's an automatic investment of 200 per month, for example, or 50 per month, whatever, you're putting aside your dollar costs averaging into the market. So when the market's moving up, you're buying less of the ASX 200, you're buying less of the top 500 stocks in America. But when the market's going down, that $200 is buying more stock in the ASX 200 or the top 500 companies in America there. So we want to be investing that money for the kids. So it's growing and you're getting that growth. Acorns will give you that and it's got that flexibility in front of you to be able to access it early if you need to asg lock that money down.
