How to Give Your Kids $1 Million Each - And it won't cost you a cent
Bringing up children is expensive, especially when you consider the many costs involved with raising a family. All parents want to ensure their children are well provided for and given a secure start to life, but it can be hard to plan ahead and find enough spare money to put aside for your child's future.
In his new book, 'How to Give Your Kids $1 Million Each', father of two and semi-retired finance professional Ashley Ormond reveals his simple but highly effective plan to raise $1 million for each of your children.
Ashley Ormond's plan is simple and can be followed by anyone, regardless of how much you earn or how much money you have. If you can afford to put asside $1 per day, starting from the day your child is born, invest the money in growth assets, reinvest your earnings and never spend the money, you fund will grow to $1 million by the time your child is 50. You can also alter the length of your plan or start a plan for an older child, as long as you continue to contribute at least $1 per day to the fund.
The key to making your fund grow and beating inflation is the selection of viable investments and consistent contributions, which are discussed in detail in the book. Following the plan outlined in 'How to Give Your Kids $1 Million Each' is also a great way to teach your children the value of money and to get them involved in saving at an early age and develop positive financial habits. As much as we may dream of winning the lottery or a get-rich-quick scheme to set us up for life, with some long-term planning, smart investing and a commitment to save, making a million dollars isn't an impossible goal.
Including chapters on getting started, the best investment options, tips for tailoring the plan to suit you, motivating your children and teaching them the value of money, 'How to Give Your Kids $1 Million Each' is a refreshingly simple approach to providing a secure financial future for your children.
TIP SHEET THE BASICS
Anyone can follow the basic plan. All you need to start is $1 per day and 1 hour each month to learn about and manage your investment.
This is not a get-rich-quick plan. It takes time, commitment and sensible investing, all of which is explained in the book.
The plan doesn't rely on new inventions or dicoveries or hidden secrets.
'How to Give Your Kids $1 Million Each' will help you choose simple low-cost, low-maintenance, tax-effective investments from the many different accounts and products available on the market.
About the Author:
Ashley Ormond has spent over 20 years in the finance sector, working with major Australian and international banking groups, including over 10 years at senior executive levels. He also runs a private consultancy advising business owners on corporate finacne and strategy and has also been a director of listed, private and not-for-profit companies.
Ashley Ormond has lectured in financial markets for the Securities Institute of Australia and was co-founder and initial CEO of Tribeca Learning Ltd, which is now one of the largest providers of ASIC-approved compliance courses for finance professionals in Australia. He is also the owner and principal of Investing 101 Pty Ltd.
Ashley Ormond and his wife semi-retired in their early 40s and are now bringing up their two young children in Sydney, both of whom are building investment funds of their own by following the plan outlined in Ashley's book.
The author is not involved in selling trading systems, seminars, courses or any other type of 'get-rich-quick' scheme. He recieves no commissions or benefits from any product provider.
10% of the royalities from the book will also be donated by Ashley Ormond to the Smith Family's Learning for Life program, which provides educational support for disadvantaged kids in Australia, including money for school books, literacy programs, technology support and educational assistance in remote and disadvantaged areas.
John Wiley & Sons
Author: Ashley Ormond