Saving for the children: from savings accounts to investing in diamonds

We all want give our children or grandchildren a push start in life, a nice cash reserve they can use when they are adults.  When you are saving for your children, “Long term” is the key word.

Savings accounts remain popular

A classic is and remains opening a savings account  when your child is born, the so-called birth – or youth savings account. Most financial institutions have a product like that available and making comparisons is worth the effort. A popular scheme is a savings account for steady savings, even though they are not specifically aimed towards children or young people.  Everyone can make us of this, as long as you transfer money on the account on a regular basis. It is advisable here as well to compare different providers. 

Savings insurance

Not only banks, but also insurance companies offer saving schemes with a guaranteed profitability. When you open savings insurance for children and link a life insurance to it, you also have the possibility to foresee a minimum capital should the saver pass away early.

Diamond

Another way to acquire extra profitability is investing in diamonds. If you have no need to save a certain amount of money on a monthly basis, but rather invest one time for a larger amount, then investing in diamonds is a great way to save for children. There are different options here as well. You can choose to invest in one or several diamonds or investment packages. Diamonds are reliable because they are not subject to economic instability, currency fluctuations, inflation or bank crises.

Real estate

Purchasing a second house or apartment, could also be a way to save for children. You can acquire profit via rental income and build capital by the increasing value of your property.

So there are a number of alternatives to consider, if you would like to save for your children or grandchildren. Depending on your personal situation, you can choose to save one monthly basis or to save by investing in real estate or diamonds.

Author: San Meuleman

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