Case study medium-term saving
Jen saves for her daughter
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.'
Last updated: 18 Aug 2015