Max Rashbrooke: IDEA Institute founding trustee explains the benefits of KiwiSaver for kids
Description
One NZ-based think tank is floating the idea of KiwiSaver schemes for kids, claiming it could set them up with $10,000-$20,000 in savings by the time they reach adulthood.
The Institute for Democratic and Economic Analysis has put out a report proposing different models, including a kickstart Government payment and matching parental contributions.
Max Rashbrooke, co-founder of the Institute for Democratic and Economic Engagement Analysis, says it could make a significant difference.
"Obviously, the Government's moving to make financial literacy a compulsory part of the curriculum, we think that's an excellent idea - but how much more meaningful would that financial literacy education be in high school classes if every child in that class knows they've got a KiwiSaver account that's accumulating?"
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
United States
