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Aug 21, 2006
A new research by
Children's Mutual revealed facts that highlight the importance of Child Trust
Funds in ensuring the financial wellbeing of one’s children.
According to the
study, if Britons would have formed Child Trust Funds eighteen years ago and
added £36 a month, they would have accumulated enough funds needed to buy a
child his very first home. Children’s Mutual estimates that the trust would
have saved a total of £17,677, the average amount needed by a first time buyer
to get hold over his first time buyer mortgage.
“Research is showing
that almost 50 percent of parents are planning to help their children buy their
first home,” says David White, chief executive of Children's Mutual. “But
17,677 is a lot of money to find. For parents of younger children, saving
regularly over the long term can help to avoid the headache of finding a larger
lump sum as they head toward retirement age.”
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