Hi my son is 3 years old and has $1000 saved and would like to continue to save for a house deposit (Actually he wants a fire engine but I am hoping I can talk him out if it in the next 15 years.)
We can invest on his behalf in his mums name to pay less than 30% tax, and his outlook is understandably long term. I would be interested in options to reduce his tax burden but his mum can pay tax for him, his tax rate is ridiculously high so that is to be avoided.
I have had a look at http://www.moneymanager.com.au/tools/compare/findamanagedfund.html however I can't find anything that fits his pocket money (Currently $45 per month) P.S. he is keen to learn about the Australian Share market, and I figure no better way to train him than to show him a graph every so often to watch his money grow.
Any suggestions on Managed funds that allow low monthly credits? They don't have to be specifically geared for kids, however long term growth is desirable, and something with a good online system to track performance would be preferred.
