At Sharesies, we have a big goal to create a financially empowered generation. This begins with sharing the knowledge and helping more Kiwis feel confident about money. In New Zealand, we often hear that financial literacy is an inherited problem—that if the adults around you growing up didn’t invest, you’re less likely to invest too. And with only 20% of Kiwis owning shares, this means there are a lot of Kiwi kids missing out.
So in striving to make financial knowledge and investing accessible for all New Zealanders (no matter how young they are!), we’re excited to announce the launch of Kids Accounts!
Introducing Kids Accounts
Kids Accounts gives adults a way to help kids learn more about money, feel financially empowered, and start putting money aside for their life ahead! From today, you can create an account for kids under the age of 18 and start investing in their name. You don’t need to be a parent or caregiver of the child, but the Kids Account does need to be linked to an adult’s Sharesies account.
A Kids Account subscription costs half the price of an adult Sharesies’ subscription. To sign up for a Kids Account, you need to be a verified Sharesies investor, provide ID and a residential address for the child, and answer a couple tax questions. This can be set up directly through the app, under ‘Settings’ and ‘Create a Kids Account’. Terms and conditions apply.
For more info on Kids Accounts, check out our help centre.
All new fund—AMP Capital Global Shares
Kids will have access to all of the available funds on Sharesies, including the all new AMP Capital Global Shares! This fund holds over 2000 companies around the world, including Facebook, Johnson & Johnson, Samsung, Coca-Cola, Visa, Apple and Boeing. It also excludes tobacco companies and controversial weapons, such as nuclear weapons, cluster bombs and landmines. It’s an awesome fund for kids because it includes companies worldwide, is high growth (great for long time frames!), and calculates tax based on the child’s PIR rather than a standard tax rate.
For more info on the AMP Capital Global Shares fund, check out our help centre.
No better time than now
The earlier kids learn about money, the earlier they can take advantage of their most valuable asset—time. We crunched the numbers and found that if you were to invest $10 every week over 20 years of someone's life, they'd have over $20,500 (based on annual returns of 7%)!
Whether you’re investing for their nest egg, further education, first car, or future home, we hope that Kids Accounts will be able to help you help your kids prepare for the big moments in life. By investing an affordable amount (even as little as $5!), regularly, over many years, small amounts can build up to bigger amounts in time!
If you have any questions, please feel free to flick us a message at [email protected]
Happy investing! 🎉
The Sharesies team