Case study medium-term saving

Jen saves for her daughter

""Jen is a 36-year old teacher who lives in Brisbane with her 11-year old daughter, Leanne. When Jen's mother passed away a few years ago, she left her granddaughter $10,000 in her will.

'I know a couple of people who work in finance, so I asked them about the best way to invest the money for Leanne. I want her to have a little nest egg when she finishes school, maybe for spending on university fees or just to give her a bit of a boost when she gets out into the real world.

After doing some research, Jen decided to put Leanne's money in an indexed managed fund.

'I did some reading and worked out that a balanced managed fund was going to be my best bet. And I think I made the right choice, it's been 'growing' to plan. I didn't want to have to guess what shares to buy or sell, or worry about it all the time. It feels satisfying knowing that Leanne's nest egg is growing, and she will have something for herself when she turns 18.'


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Last updated: 13 Oct 2016