Long term savings plans can be put in place to provide for the increasing expense of Primary, Secondary and Third Level education. These plans are designed for the regular saver so you can make payments each month while attracting a competitive investment return. We often advise our clients, where possible, to route their children’s allowance into such a savings plan so that the costs of education at a later stage are significantly reduced. This can greatly ease the burden on day to day spending once your children do come to the age of attending school.
You choose the fund(s) you want to direct your regular payments into, and through these funds you gain access to the growth potential of shares and bonds or simply deposit rates depending on your attitude to risk.