Investing for kids

I already have a commsec account which I use for myself but I want to start putting little bit of money away for kids each year. Comnsec only allows one account. How is everyone investing for multiple people? TIA


  • +2

    Can you not just buy the shares on their behalf? Id rather keep the shares in my own name in case they grow up not to appreciate them

    • I bet warren buffet buys shares for his kids and grandkids.

      • I dont doubt this, but I bet he also doesn't buy them directly in the kids names. It would be via a trust or something with conditions for their access to them

        • He probably starts individual investment firms for each of his descendants. The guy is worth over 100 billion dollars.

    • I don’t mind doing that. That infact is very good advice but in 20 years how would I know what portion belongs to each one, so I want to put it into 2 different accounts but under my name . It’s actually their birthday money, I don’t throw them stupid big parties like my friends and put it aside instead.

      • +1

        That infact is very good advice but in 20 years how would I know what portion belongs to each one

        Spreadsheet? Pen and paper?

        If you actually need two separate accounts, just get an account with a different broker.

      • If you are investing in shares, you should already be using sharesight. If not start using the same. Will not need to manage spreadsheets.

        Sharesight however only allows 1 portfolio in the free account. You can either pay 279 yearly and manage 3 portfolios with same account. Or create 2 different accounts with different email address and other details to segregate the purchases between kids. Note: sharesight is not the trading platform. It's just replacement of spreadsheets and management of your investments. With capital gains reports etc.

  • +1

    I just buy them in my name and know what they own. Of course at some point I'll pay CGT but so be it and that is in 18 odd years. I've been putting some of their coin into Vanguard (VDHG) to be safe with full reinvestment, appreciating there is always going to be some risk. Some into another good stock that has potential although higher risk.

  • Be aware of the tax implications if you buy in your child's name

  • Commsec you mean this? can I buy shares for minors

    • Thank you. This should do

  • +2

    I put a monthly amount into vanguard managed fund (vdhg)
    It's easy to just bpay an amount each month.

    It's in our names and not there's, so we deal with tax etc but also means I can always not give it to them if they grow up to be dissapointments ;)

    • Or give it to them as part of their redundancy entitlements.

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