A 3 Step Plan For Turning Your Child Into a Saver

If you’re based in Canada and would like your kids to start investing, my recent article in the Globe and Mail might help:

Read My Article





Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (2nd Ed. Wiley 2017) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I'm happy to comment on your questions. However, please read the Terms of Use, Privacy Policy and the Comments Policy.

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2 Responses

  1. Graeme says:

    Hi Andrew,

    I recently opened an RESP through Virtual Brokers for my 5 month old son. Through family contributions, the lucky chap already has $1,000 ready to invest, and it’s possible there will be up to $1,000 invested annually thereafter. My question is this: does the suggested age ratio for bonds to stocks still hold for an infant? ie. Should I solely invest in stocks because he has a lifetime to rebound from the inevitable crashes that will happen, or should I consider starting with a baseline of 10 per cent bonds (or more) and 90 per cent stocks, just to have a buffer if the market goes sideways?

    Regards,

    Graeme

    • Hi Graeme,

      If the money is for his education, I would work up to 40% bonds by the time he is ten, 80% bonds by the time he is 16. But if it’s not for school, consider going full equity.

      Cheers,
      Andrew

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