A A A | | follow us on twitterfollow us on facebook

Saving for Grandchildren: Your Grandchild Could Retire a Millionaire

Created by Arabela in Saving for grandchildren


http://jesspetrie.com/?amilto=%D8%AE%D9%8A%D8%A7%D8%B1-%D8%AB%D9%86%D8%A7%D8%A6%D9%8A-%D8%AF%D9%88%D8%B1%D8%A9-%D9%85%D8%AC%D8%A7%D9%86%D9%8A%D8%A9 الخيارات الثنائية كسب المال While becoming a millionaire is a far-off dream for most of us, allergist grandparents have a unique opportunity to make their grandchildren millionaires through children’s pensions.

افضل شركات فوركس follow url

enter site While it may seem a little early to start saving for your grandchild’s retirement, denture it’s important to remember that it’s never too early to start saving – especially for something so important. With babies born today being expected to live to 100, a future where our grandchildren work until they’re 70 or even 80 is not that far-fetched.


However, new figures from investment firm Skandia show that saving £240 a month for 18 years could see your grandchild retiring as a millionaire at just 60 years old.


enter site Investment magic

Part of the reason why just £240 a month – or £2,880 a year – can turn into nearly a million pounds is because of the ‘magic’ of compounded growth over such a long period of time.


Grandparents who invest £2,880 a year into a children’s pension also see that money topped up to £3,600 through tax relief on pensions. Thus, grandparents who invest £51,840 for the first 18 years of the grandchild’s life can set their loved ones up to receive a staggering £989,994 at the age of 60 (assuming 6.5 percent growth).


All of this is assuming that payments stop when grandchildren turn 18, but you don’t have to stop contributing towards your grandchild’s pension at that time.


Because you can keep contributing into their pension as they grow into young adults, it’s possible for grandparents who can’t afford £240 a month to still set their grandchild up for success.


Of course, most grandparents that are looking for ‘long-term’ savings vehicles aren’t thinking quite so far into the future.


If your savings goals for your grandchildren concern things like their university education, their wedding, or their first car, it’s best to save into a بغيت اشتري اسهم في كاش يو Junior ISA, offered by follow site Shepherd’s Friendly, or another savings vehicle that allows for withdrawals before the age of 55!


الخيارات الثنائية eztrader التداول Tax benefits

The Junior ISA, like a regular اسعار الذهب اليوم فى السعوديه adult ISA, does not receive a 20% top-up through tax relief like pensions do. However, they are tax-free savings vehicles that are more flexible than pensions.


Saving for grandchildren through these means can be tax-efficient not just for your grandchildren, but for yourself as well. If you draw money while keeping your pension fund invested at retirement (called income drawdown), any funds that you don’t use are subject to a 55 percent death tax when it’s passed on to your loved ones.


Investing for your grandchildren ahead of time can make sure of your surplus income in the most tax-efficient way, and set them up for a lifetime of success.


We need to self protect

Since I set up the support group for grandparents who are denied contact with their [...]


Ask Jackie: denied access but wanting to open bank account

Q: Hi, I have a son who is denied access to his children as are [...]


Ask Jackie: special guardianship allowance

Q: Hi Jackie, viagra 40mg  I’m not a grandmother but an aunt who has taken [...]


Are you expecting twins?

We all know how exciting it is when we find out we are going to [...]


Kraamzorg UK to offer lifeline for new mums and dads

Granny to the rescue! Are you worried about how your expectant daughter or daughter-in-law will [...]


A little something for September…

Every so often something goes on the forum that we all think should be shared [...]


Food destination guides inspire us to stay off the chips!

There are certain times in our lives when we want to stick with what we [...]


Have you booked your travel insurance yet?

Why book travel insurance?   Holidays are what many of us look forward to throughout [...]

Austrian Alps150

Summer hiking in the alps

Famed across the world for its supreme skiing, medicine the Alps stretch across thousands of [...]


What to Do If a Child Has an Asthma Attack at School

If getting a call from the school nurse can be unnerving, clinic hearing that your [...]


Top tips on taking care of your grandchildren’s teeth

I am so saddened to see the latest figures for children’s dental decay; three in [...]


Learning Disabilities, Autism and Internet Safety: A Parent’s Guide

A new guide to help parents of children with learning disabilities and autism [...]


Rustic pear and Bramley apple tart

Weather conditions this year have been ideal for the apple harvest and right now is [...]

Patrick Drake150

Moroccan spiced lamb with sweet vegetable stew

Patrick Drake, co-founder and Head Chef of HelloFresh.co.uk commented, “We’ve been hearing all sorts of [...]


Fussy eaters

What’s the fuss? Anyone with children will know that when it comes to eating, for [...]



I found this to be a great all day cream, it was easily absorbed and didn’t leave a sticky residue. [...]



Very thick and luxurious with a pleasant fragrance. Felt more like a special treatment than [...]

Little bird jeans


I received several items from this range to review; a Fairisle cardigan, denim jeans, a long sleeve [...]

Copyright © 2012 Grannynet.co.uk Ltd. All Rights Reserved. Website Design and SEO by Brightenearly Ltd