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A young mother has revealed how she plans to make her newborn a millionaire – and other parents can follow in her footsteps.
Queenie Tan, 27, and her fiancé Pablo Bizzini, 32, welcomed their daughter Gia into the world on March 19 and have already opened an investment account.
When Gia was born, the Sydney couple invested $1,000 in her and will continue to do so every year on her birthday. Any cash gifts from friends and family will also be invested.
When she is 18, Gia will have $41,000 and when she is 65 she will have $1.8 million, assuming an eight percent annual return based on the portfolio they chose.
“Investing is a great way to ensure our money is worth more over time rather than being eaten up by inflation and the rising cost of living.” Queenie, a licensed personal finance content creator, told FEMAIL.
Queenie Tan, 27, and her fiancé Pablo Bizzini, 32, welcomed their daughter Gia into the world on March 19 and have already opened an investment account. The Sydney couple has a net worth of $800,000.
When she is 18, Gia will have $41,000 and $1.8 million at age 65, assuming an eight percent annual return.
“That’s why I started investing for her, so she has an advantage when she’s a young adult.”
Queenie pointed out that living in Australia is expensive, especially as the cost of living and the property market continue to rise. Saving money for her daughter is expected to give her a head start on other assets in the future, such as a higher education or a home loan.
So far, the pair have chosen two exchange-traded funds (ETFs), including a US ETF (called VTS) and a global ETF (VEU). The annual profitability used is an example and not a forecast. Most ETFs have given investors returns of between six and 12 percent annually over the past ten to twenty years.
When Gia gets a little older, Queenie said 50 percent of the cash gifts will be invested, not the entire amount.
“Compound interest in investing is magical, and it’s great to get kids interested from an early age,” he said.
‘I still want him to enjoy all the wonderful things money can do in the present (like fun experiences), but I also want to show him that investing it in assets can make his life easier when he’s older.
“I can’t wait to teach you more about investing and who knows, maybe one day you’ll be able to choose your own investments!”
So far, the pair have chosen two exchange-traded funds (ETFs), including a US ETF (called VTS) and a global ETF (VEU). Most ETFs have given investors returns of between six and 12 percent annually over the past ten to twenty years.
Queenie and Pablo also have an impressive net worth of $800,000 which has increased significantly over the years; In 2020, his net worth was $200,000.
The couple has seven sources of income, but they make most of their money through brand collaborations on social media. Other forms of income include shares, rentals, speaking events, and advertising income.
A big misconception about investing is that you need a lot of money to get started, but this is not true: you can start from as little as $5.
‘Nowadays investing is much easier than before. “If you know how to buy clothes online, then you have the skills to make an investment,” Queenie said.
