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 adult Raiz users with an active account, Raiz Kids accounts are currently free with no monthly maintenance fee or account 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
Raiz Invest Australia Limited – Authorised Representative of AFSL 434776. The Raiz Invest Australia Fund and Raiz Property Fund are issued in Australia by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) a subsidiary of Raiz Invest Limited and promoted by Raiz Invest Australia Limited (ACN 604 402 815).
Raiz Invest Super is a Division of AMG Super and is issued by Equity Trustees Superannuation Limited (AFSL 229757, RSE Licence No L0001458) as Trustee of AMG Super.
The information is general information only and does not take into account of your personal financial situation, goals or needs. You should obtain financial advice tailored to your circumstances by a licensed financial adviser.
A Product Disclosure Statement (PDS) and Target Market Determination (TMD) for Raiz Invest Australia Fund, Raiz Invest Super and Raiz Property Fund (together, the Products) are available on the Raiz Invest website and App. Please read and consider the PDS and TMD to understand the risks and determine if the Products are suitable for you. The risks and fees are fully set out in the PDS and include the risks that would ordinarily apply to investing.
Any returns shown or implied are not forecasts and are not reliable guides or predictors of future performance.
Under no circumstance is the information to be used by, or presented to, a person for the purposes of deciding about investing in the Products.
This information may be based on assumptions or market conditions which change without notice and have not been independently verified.
Any opinions or information expressed are subject to change without notice.
Home loans are subject to approval from the lending institution and Raiz Home Ownership makes no warranties as to the success of an application until all relevant information has been provided.
Raiz Home Ownership Pty Ltd (ABN 14 645 876 937), an Australian Credit Representative number 528594 under Australian Credit Licence number 387025. Raiz Home Ownership Pty Ltd is 100% owned by Raiz Invest Australia Limited (ABN 26 604 402 815).
