I save money each week for my child who’s only a toddler. Currently it’s just in a high interest account with our families savings due to not wanting to open an account in their name due to the higher tax rate.
I originally looked at setting up an investment bond for them but don’t like the high fees and lack of transparncy in the T&C. So I would love to invest their money in the ASX 200 or a blue chip share but would like to keep it separate to my investments. What would be the best way to set this up in terms of keeping it separate and tax effecency? Would you do it in a trust?
Would you suggest me consider another way to save long term (18 years) for our kids.