What is the best way to put aside some cash for your children?
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By George Cochrane
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My wife and I are struggling to work out the best options for our retirement savings, as well as savings for our children, aged 4 and 6, to support potential university fees or their first home deposits. We had been looking to purchase an investment property or allocate some savings towards shares, given the low savings account interest rates. However, since COVID-19, we are not sure on what our best mix should be. I am aged 45, earning $130,000 a year, and my wife, 38, earns $8000. I salary sacrifice $400 a month into my superannuation fund, which has a balance of about $102,000. I moved from the UK 10 years ago and have limited pension funds there. My wife does not contribute any voluntary super and has $69,000 in her fund. We own our house, valued at $360,000. We add $360 per fo
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