Raiz Kids 🤝 Modern Families
From single-parent households to blended families and guardianships, “typical” Australian family structures have evolved. Universally, we all strive to set the next generation up with the best education, habits and opportunities both financially and throughout their lives. As we celebrate National Families Week, it’s the perfect time to explore how families of all shapes and sizes can harness the power of Raiz Kids to shape their children’s financial futures.
Gone are the days of a one-size-fits-all family model. Today, families come in all configurations, each with its own set of joys, challenges, and financial considerations. Whether it’s a single parent juggling work and childcare, a blended family navigating the complexities of co-parenting, or a grandparent, sibling or cousin stepping into the role of a guardian, the modern family dynamic is as diverse as it is dynamic.
Enter Raiz Kids, a purpose-built tool designed to instil the values of saving and investing from a young age, offering families a flexible and accessible platform to nurture their children’s financial literacy. Through Raiz Kids accounts, children and adults alike can capture the full investing experience from choosing a portfolio, the highs and lows of market fluctuations, dividends and, (with any luck) achieving a goal. Grandparents, parents, stepparents, guardians, and older siblings alike can all play a role in shaping their loved ones’ financial futures through Raiz Kids accounts.
At the heart of Raiz Kids lies a commitment to fostering financial literacy from an early age. By engaging children in conversations about saving, investing, and long-term financial planning, families can empower the next generation with the tools they need to thrive in an increasingly complex world. Raiz Kids serves as a catalyst for these discussions, providing a tangible pathway for children to learn and grow alongside their families.
So far this year, Raiz Kids accounts had 65.4% less withdrawals than standard Invest accounts, suggesting that Raiz ‘adults’ may be more likely to compromise their own financial goals than that of their children’s.
Setting up a Raiz Kids account is a straightforward process. Within the Raiz app, users can easily establish up to eight Raiz sub-accounts for individuals under the age of 18. Adults with Kids accounts can opt for the kids to be able to directly access their investment portfolio, fostering financial responsibility and positive savings habits from an early age.
To open a Raiz Kids account, simply log into your Raiz account and navigate to the “Invest” section on the Raiz app or website and locate “Add a Raiz Kid Now.” From there, input the child’s personal details, including name and date of birth, and set up an initial one-off investment. Adults setting up an account can customise the level of control their child has over the investments, establish recurring investment schedules, and select from a range of expertly designed portfolios or create their own. Additionally, parents can set notifications to stay informed of any changes made to the Raiz Kids account. All investments into the Raiz Kids account are debited from the funding account linked to the primary Raiz Invest account, offering convenience and transparency in managing finances.
For Raiz users with an account in either a Regular or Plus plan, Raiz Kids accounts are currently included in the calculation of your monthly fee. To see a full breakdown of our fee structure for Raiz Kids accounts, please read the PDS.
Through platforms like Raiz Kids, families of all shapes and sizes can come together to nurture their children’s financial futures, laying the foundation for a lifetime of financial empowerment. So whether you’re a grandparent, parent, stepparent, guardian, or older sibling, consider harnessing the power of Raiz Kids to invest in the future – one child at a time.
Published 14/5/2024
Don’t have the Raiz App?
Download it for free in the App store or the Webapp below:
Important Information
| This blog post has been issued by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) as Responsible Entity of the Raiz Invest Australia Fund (ARSN 607 533 022) and has been prepared without taking into account your objectives, financial situation or needs. Before acting on such information, you should conduct your own review or consult a financial advisor before making a decision to invest. Please read the relevant Product Disclosure Statement and any associated reference documents before making an investment decision. In accordance with the Design and Distributions Obligations, we maintain Target Market Determinations for our Funds. All documents can be found on the Raiz website www.raizinvest.com.au, or calling the Customer Support team on 1300 754 748. Please note that past performance is not a reliable indicator or guarantee of future performance. Historical returns, forecasts, and market commentary are provided for general informational purposes only. All investment carries risk and may result in loss of capital. |
