Advice on saving Child benefit for College fund

[brokeagain]

Hi,

I am looking for some advice on saving my kids child benefit for their education costs in the future..college fees or whatever direction they decide to take.

I currently have approx 8k in a KBC account that is earning very little interest. It started out at 3% but has been reduced dramatically.

I thought about meeting a financial advisor but heard that they are motivated by commission rather than on whats right for me.

Zurich have an education investment policy that looks interesting and the projected interest looks tempting. I am afraid to lose the kids fund though. I don't mind losing my own money but this is their future.

If I leave the money in the deposit account, it is actually losing money with inflation.

Any advice would be appreciated.

Thanks

 

[gipimann]

https://www.statesavings.ie/our-products/childcare-plus-6yr

Might be worth a look (no idea if the interest rates are competitive, but it is tax free and secure)

 

[Brendan Burgess]

Covered in many other posts.