Meet Jane Smith
We are the grandparents of three adorable children. When our first granddaughter was born, we discussed investing for her future but did nothing until she was already five-years-old.
That year we joined Stockspot and invested a lump sum under my name on her behalf. By that time our second grandson was already nearly three-years-old and on his third birthday we deposited similar amount into another Stockspot account for him. At the same time, we set up automatic monthly payments of $100 into each account.
Their parents decided to join us and are also depositing regular amounts each fortnight to each child’s account. Now, almost four years later, the accounts are already grown, and we see the results of the investment compounded!
With the third grandson we did not delay and started the investments by a deposit on his second birthday. Now it looks like he’ll be better off than both his siblings in the long run. The earlier you start, the better.
“What we like about Stockspot is that behind the company there is a system that works well. And there are people who are very good at what they are doing.
Why we decided to trust Stockspot with your investment portfolio
We met Chris [Brycki, founder and CEO of Stockspot] and Sarah [King, head of client care and advice] in person during one of those ASX investor day seminars and liked Stockspot’s investment strategy very much.
Our investing experience with Stockspot
The Stockspot sign up process was effortless.
Firstly, we tried to understand how Stockspot works and how investment returns are calculated, so we contacted customer support with questions.
Beyond those initial questions, our portfolio is now a ‘set and forget investment’. Stockspot provides us with only one piece of paper per year for our taxation purposes.
Our investing goals
We do not have any financial goals as such for our grandchildren, whatever comes when they are ready to cash in our invested savings for them.
But when we run the Stockspot online calculator which says that their savings might grow to a substantial amount thanks to the consistency and the magic of compound interest, it will give them a good head start when they reach the adult life – that’s really impressive!
And then when the number is multiplied by three kids it becomes even more inspiring to keep going with the monthly contribution for as long as we can.
What we like about Stockspot
What we like about Stockspot is that behind the company there is a system that works well. And there are people who are very good at what they are doing.
A final word about investing
Do get started investing, just do it. Set up an automatic monthly contribution and definitely separate the account from your own savings account where the money can be spent on something else.
Invest and enjoy plenty of free simple things on the way.