I’m looking for start saving for my 10-month old for his education. Based for my research so far, I’m down to a few options.
mortgage offset account, pro interest saved and no tax on such benefit, con no growth and low interest rate atm.
scholarship plan (avoid ASG as per https://www.ozbargain.com.au/node/342417), pro earning at corporate tax rate and CGT free in 10 years, con high management fee (lifeplan ~1.7%, IOOF ~1.5%, depending on investment options).
low cost ETF/index fund, pro low management fee (I like vanguard Int’l share index fund at 0.18%) and flexibility to change to another fund, con pay tax on full earning and growth.
I struggle to come up with a way to compare them as I’m mathematically challenged. Anyone can help shed some light?