It's No Secret
It’s No Secret is a podcast for Kiwis who want their money questions answered.
Are you wondering when is the right time to get on the property ladder, whether you should invest with family or how to talk to your significant other about investing and budgeting? If yes, you’re in the right place. Our hosts Cat Emerson and Christine Jensen will answer these questions and more.
They’ll take you through the ins and outs of all things finance, money, property, investing and building wealth so you can move towards achieving financial freedom. Whether it’s learning about budgeting, what to do with your savings or whether you should be investing in the share markets, we’ve got you covered.
Each Tuesday we’ll release one short episode that answers a specific money question. No long ramblings and no financial jargon. Investing hacks, budgeting tips and financial freedom included.
You’ll be left feeling inspired, relieved and ready to take the next step in your financial journey.
Happy listening!
Submit a money question or get in touch at our Instagram @itsnosecretnz
It's No Secret
100. Navigating Kids Accounts: 5 Things Parents Need to Know
Welcome back, lovely listeners, to another episode of It’s No Secret!
Today, we’re diving into a rapid-fire chat about kids' accounts. Whether you’re considering opening an account for your child or just curious about how they work, we’ll reveal five facts that could change your perspective and approach.
Key points
- Tax benefits - Kids accounts are taxed at the child’s rates, which can be a significant advantage for families.
- Why the money needs to be genuinely for the child
- Unlike trusts, kids' accounts are individual accounts, offering different levels of control for parents.
- Children may discover their accounts through MyIR, highlighting the need for open communication.
- Once a child reaches the age of access, they have the ability to remove parental control
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Got questions? Get in touch: www.itsnosecret.co.nz
Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.
The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.
Any information we provide is general only and current at the time of writing.
Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz
