Premium Bonds and childerns savings bonds

[Guest JulieG]

Hi

 

Does anyone know if you can get premium bonds and childerns savings bonds here. We still have them in the UK and are thinking of cashing them in.

 

Thanks

[Leyland CJ]

Not sure, never dealt with PB or savings bonds, but if you are interested in savings for them / kids accounts and all the tax issues etc. that go with it, I can recommend a great book.

 

"How to give your kids $1 Million each" (and it won't cost you a cent) by Ashley Ormond. Big blue cover

 

His other (red cover) book "$1 Million for life" is equally as good, it's more for "us adults". I have both books and I love his straight-forward talking style. It is NOT a 'get rich quick' book, but he does go into a lot of the tax issues and structures for kids savings etc.

 

Check it out at http://www.investing101.com.au

 

P.S. I know from Scott Pape's Barefoot Investor Blog at news.com.au that there is something called an 'education bond' (or something like that), but I'm not too crash hot on how they work. In any case, not holding an AFSL, I can only point you in the right direction - sorry !

[Andrew from Vista Financial]

No Premium Bonds here unfortunately Julie.

 

There are Investment Bonds available for children's education etc. These are market linked and can be tax free after 10 years if kept within certain contribution guidelines etc.

 

If you are not looking for market linked, then I am sure Bank's will probably have childrens saving schemes of sorts.

 

 

Andy