For long-term educational savings of €300 monthly and an existing €15,000, a guaranteed return is preferred. The existing low-interest online deposit account may not yield sufficient growth over eight years. Alternative options include government bonds, fixed-term accounts, or higher-interest savings accounts, which promise safety and better returns. These options align with the eight-year timeframe and help ensure that funds are available for children's education without risk.
Given the purpose of the fund, a guaranteed return is preferable for long-term goals like children's education savings.
Saving €300 every month while already having €15,000 allows for steady growth over eight years, ideally with a more advantageous interest rate than a low online deposit account.
Knowing that the funds won't be accessed for another eight years, considering options like government bonds or fixed-term accounts can provide the security needed for this education fund.
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