Author Topic: Tiny experimental for teaching a child - need infos  (Read 1043 times)

fatscally

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Tiny experimental for teaching a child - need infos
« on: June 07, 2017, 03:21:11 AM »
Hello.
I'm in Ireland.  I want to create a tiny financial experiment for my daughter.  I want to put a single 100 deposit isolated into a fund for my 7 year old daughter to monitor over time.  Is there an easy way and cheap way to do this?
Rabodirect recently stopped a service that was great for this.  You have a central bank account that you deposit money into and then you chose what to do with it thereafter.   I could create a sub-account "Zara", buy 100 in a fund and let it roll, check in on it from time to time and see how it's going.

Most of what I'm finding here in Ireland requires that I make a commitment of say 100 per month every month, which ordinarily would be fine but I want to demonstrate what happens to a single deposit of 100.  I don't want to keep adding  100s on top of the original deposit.

Are there any services available in USA or UK that are open to citizens in Ireland?

« Last Edit: June 07, 2017, 03:34:20 AM by fatscally »

Mezzie

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Re: Tiny experimental for teaching a child - need infos
« Reply #1 on: June 07, 2017, 05:45:10 AM »
Could you just buy $100 in an index fund in an account you already have and track the value of the index fund over time? It would require a little math, but math isn't a bad thing.

fatscally

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Re: Tiny experimental for teaching a child - need infos
« Reply #2 on: June 07, 2017, 09:26:46 AM »
Could you just buy $100 in an index fund in an account you already have and track the value of the index fund over time? It would require a little math, but math isn't a bad thing.

Yeah that's option B.   Rabo had it nice where you could setup a sub account.  So I buy 100 of Fund X but the balance in that account left to roll after 5 years is 200.  It was clear to see what happened to that deposit.
If I do have to continually apply 100 every month I'm also not keen for her to see the rest of the stash.

No worries, I'll figure something.