Best Investment options for children

[Paul Oga]

The greatest advantage your child has is time.

The earlier you start investing for them, the more time their money has to grow.

You don't have to start big.
Start small.
Stay consistent.
Start now.

 

[Paul Oga]

Children's Savings Accounts:
Examples:
• GTBank Smart Kids Save (SKS): Ages 0–12
• Zenith Future Account (ZECA): Ages 0–15
• FirstBank KidsFirst: Ages 0–12
• UBA Kiddies Savings Account (Ages 0–12) or Teens Account (Ages 13–17)
• Access Bank Early Savers Account: Ages 0–18
• Wema Bank Royal Kiddies Account: Ages 0–12
• And many more.

These accounts are specifically designed for minors to help them develop healthy saving habits from an early age. Most importantly, once you open the account, let your children know they have a savings account. Encourage them to keep adding to it, no matter how little. Every naira saved today can make a big difference tomorrow.

Children's Education Investment Plans:
Examples:
• AIICO Insurance Plc – Children's Education Plan (CEP)
• AXA Mansard Insurance Plc – EduPlan
• Leadway Assurance – Education Target Plan or Education Protection Plan
• Mutual Benefits Assurance Plc – Children's Education Plan
• ARM Life – Education Trust / Children's Education Plan
• Stanbic IBTC Insurance – Education Endowment Plan
• And many more.

These are structured education plans designed to ensure funds are available when your child's educational needs arise, while also providing financial discipline and long-term planning.

 

[Paul Oga]

Invest in Skills:
As I always say, if you have a skill, trade, or profession, deliberately teach it to your children. They don't have to pursue it as a career, but they should at least understand it. That's part of the legacy you leave behind. Also, enroll them in digital, technology, vocational, music, creative, or art classes. Remember, the best investment you can make in your child isn't always financial, it is developmental.

Invest in Mutual Funds, Treasury Bills, Bonds, or Stocks:
You can invest in any of these on your child's behalf (in your own name where necessary) and transfer ownership when they become legally eligible. Don't wait until you have a lot of money. Start with whatever you can afford, even ₦5,000 is a good beginning. These investments offer several benefits:
• Suitable for long-term goals such as education.
• Potential for steady long-term growth.
• Some options, such as Treasury Bills and many Money Market or Fixed Income Mutual Funds, carry relatively low risk.
• You can start with a modest amount and build consistently over time.