In this episode, Jennie sits down with Simplicity superstar Sebastian Neubrandt to delve into the topic of kids and KiwiSaver. Should Kiwis under 18 have a KiwiSaver? What's the best time to set up an account? What are the key benefits and are there any disadvantages?

Jennie and Seb both admit that they don't have KiwiSaver set up for their own kids yet, but they're definitely considering it by the end of their conversation.

This episode covers:

• The compelling reasons to consider signing your kids up for KiwiSaver, including jumpstarting their savings for a first home deposit or their retirement, and fostering good money habits
• If there's an ideal amount to invest. And whether it's better to invest a lump sum and leave it there to grow, or make small but regular payments over time
• Who can contribute to your child's account (i.e. beyond parents/guardians - hello grandparents!!) and when they become eligible for employer and government contributions
• The cost of having a KiwiSaver account, and why you need to pay special attention to fees
• How to set up an account for someone under 18, including what info and documents are needed
• If the process of choosing the right fund type differs for children
• Whether KiwiSaver is the best way to save for your child's future, and what the other options are

Resources we mention in this episode:
We made our savings calculations on Sorted's saving calculator, using a projected return of 4.5% p.a which is based on government-mandated assumptions for a Growth Fund. More info here.
Sorted.org's KiwiSaver fund finder for fee comparisons
Simplicity's Fund selector tool to help choose the right fund for you
One we didn't mention but could be useful  when looking into KiwiSaver for your kids is Moneyhub -  KiwiSaver for kids: The definitive guide

Once you've listened to this episode, you'll know some of the pros and cons of setting up a KiwiSaver account for kids, and will hopefully have a much better idea if it's the right thing for you and your family.  If you're not a parent but have special children in your life, share this episode with their parents or guardians!

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Disclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.