Saving for children's education

S

Shei

Registered User
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Hi,
I want to start saving my 18-month-old's child benefit, which is about €150 per month I think. It would be for education costs, so a min of ten years. Any advice on what to consider? I was previously burned by a PEP, so I am wary of investment products. Can't say I am excited by those deposit interest rates though!
Thanks for your time.
 
Shei said:
I was previously burned by a PEP, so I am wary of investment products. Can't say I am excited by those deposit interest rates though!
Click to expand...

Well it's effectively one or the other!

Past experiences with a PEP are no indication of what will happen in the future. To lessen your chances of a poor return, try and pay as little as possible in charges.
 
Have you considered the Childcare Account with An Post?
Benefit is lodged direct to the account
I did this for about 15 months and there is now €2K sitting there. Had to stop when I went on maternity leave last year and needed every penny. But mean to start again.
Sorry I dont know the interest rates off hand...
 
Thanks,
I might put half in post office and half in one of those Quinn Life investment accounts. Does anybody know what happens if QUinn Life goes belly up? Would savers lose everything or is there any protection?
 
Pretty sure that there is a independent compensation scheme that would cover you for the first €15K.
 
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