# Investing children's allowance



## folly (29 Sep 2007)

Hi folks,

Please could anyone advise where best to invest my baby's children's allowance, with a view to accessing it in about 15 year's time? Would appreciate any input. I will be in a position to invest it from when she is one.
Thanks, folly
PS Sorry if this is already covered, but I did have a look and was unsuccessful finding a specific thread!


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## webtax (29 Sep 2007)

for regular savings the new ebs savings account offers 7%, which would be hard to beat for a risk free return.


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## folly (29 Sep 2007)

many thanks webtax
Anyone else have suggestions please?
considering all options
Should have stated that I would be willing to accept some risk (medium risk--subjective I know!)


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## Murt10 (29 Sep 2007)

Looks likely that you won't be able to get your Child Benefit paid directly into your bank account in the near future.



In addition many Irish people are annoyed that CB is paid to workers from overseas who are living in Ireland while their children are in their home country. The rate of CB was increased greatly in the last couple of years in successive budgets by the Government to help Irish parents cope with the increased cost of childcare etc. I don't think that it was ever intended to subsidise people from countries where costs and wages are far lower than here.

Maybe it's time to abolish CB all together and introduce a new scheme which will help hard pressed Irish workers cope with the massive cost of raising their children here.


Murt


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## webtax (29 Sep 2007)

Murt10 said:


> In addition many Irish people are annoyed that CB is paid to workers from overseas who are living in Ireland while their children are in their home country.



One point that should be remembered is that these workers are paying tax here and entitled to benefits from what they pay. Also, it would be far more expensive to the govt if their children were here and had to be provided with education (language support etc.) and healthcare.

Not trying to open a debate on immigration, so going back to the op: you could check out the funds on offer through quinn direct or radodirect, but a 7% risk free return with no entry or exit fees will be hard to beat.


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## folly (29 Sep 2007)

webtax, thanks a mill and I will def open an account for her in EBS as I have a few cheques to lodge for her. I think 7% is very good, is this an intro offer or for the duration? Does it go up with ECB rises?
I would also like to earn more interest on the bulk of the money and have heard about the quinn fund but understand there are various options/risk and am curious as to what other people have selected. I am looking at what is out there and this forum is a great starting point, so thanks for your help!

murt, with respect to you, I am only after advice on where to invest the funds and don't want to get into a debate on immigration or whether they should stop paying child benefit.


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## F. Kruger (29 Sep 2007)

folly said:


> .....with a view to accessing it in about 15 year's time?


 
For the contribution involved, some of the equity funds with Quinn would probably be your best bet.


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## folly (29 Sep 2007)

many thanks f.kruger, will def look into this, it seems to keep coming up (I have also, seperately, asked several people where they save their child benefit)


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