Scottish Friendly Reveals Savings Targets for Parents to give Children a Royal Lifestyle
Glasgow (PRWEB UK) 10 July 2013 -- According to figures from Scottish Friendly, one of the UK’s leading mutual organisations, parents need to invest up to £2,961 a month to give their child a baby HRH lifestyle. That monthly sum could cover one year’s fees for an Eton education at the age of 10, a Bentley Continental GT on their 17th birthday and world heritage tour when they hit 20.
Parents want to give their child the best start in life. Baby Windsor’s little life is already planned out. Mums and dads can help set their child on the right track by investing a little money every month to help provide a deposit for a flat or their first trip abroad.
Scottish Friendly suggests that based on putting money aside in an investment* ISA, a more modest investment target of £260 a month could cover one year’s fees for a private education at the age of ten, an Audi A3 car and a coming of age holiday in the South of France. And by investing just £30 a month, parents could offer their kids who attend a state funded school a Dacia Sandero and a caravan holiday in Skegness with their friends.
Calum Bennie, Communications Manager of Scottish Friendly said: “These figures show how starting to save and invest as soon as a child is born can have a significant impact on what can be provided in later life. Baby Windsor is sure to have a privileged lifestyle, but by getting into the savings habit now and putting away just a little a month, there’s no reason why those not born into Royalty can’t be given a good start in life too.”
The value of investment ISAs can fall as well as rise and investors are not guaranteed to get all their money back.
The tax treatment of investments depends on individual circumstances and tax law may change in the future.
The figures are examples and not guaranteed. They are not minimum or maximum amounts. Future returns depend on how an investment grows and the tax treatment of investments.
- Legally known as a stocks and shares ISA but it can invest in much more than the name suggests which is why it’s called an Investment ISA.
For further information please contact:
Alison Downs/Ewan MacGill
3x1 Public Relations
0141 221 0707
adowns(at)3x1(dot)com / emacgill(at)3x1(dot)com
Notes to Editors
• About Scottish Friendly: http://www.scottishfriendly.co.uk is a progressive and modern financial services group. The group provides investors and their families with a wide range of simple and affordable investment solutions, such as friendly society tax free savings plans, and ISAs.
• Data derived from Scottish Friendly. Future costs based on current costs and estimated inflation of 2.5% p.a. Investment based on a stocks and shares ISA with investment growth of 7.0% p.a.
• Education figures based on average costs of Eton, Private and State School education, assuming the child starts school at 10 years old. Sources: http://www.etoncollege.com and http://www.isc.co.uk
• The Royal Carriage costs based on UK prices in June 2013 directly from Bentley, Audi and Dacia.
• Holiday costs based on average prices in June 2013 from UK travel websites including http://www.skegness-caravan-holidays.co.uk/ and http://www.travelrepublic.co.uk. World Heritage Tour trip based on visiting 900 UNESCO locations around the world.
Ewan MacGill, Scottish Friendly Press Office, 01412210707, [email protected]
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