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The Fat Wallet Show from Just One Lap

The Fat Wallet Show is a show about questions. It’s about admitting that we don’t know everything, but that we’re willing to learn. Most of all, it’s about understanding as much as we can to make us all better investors. Phrases like, “I’m not sure” or, “Let me look that up and get back to you” or, “I don’t know” don’t exist in the financial services industry. If you ever had a financial question you were too embarrassed to ask, you know what we’re talking about. In this business, appearances matter, and nobody wants to seem like they don’t know how things work or what the outlook is for the buchu industry. It’s easy to excuse that little vanity, except that people in the investment industry are meant to service investors - people like you and me who need to figure out what to do with our money. There’s no such thing as a stupid question in this show. If you have unanswered financial questions, this is your opportunity to have them answered in a way that even I can understand. Pop them to us at ask@justonelap.com. Hosted by Kristia van Heerden and Simon Brown
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Jan 5, 2020

If it’s parenting advice you’re after, you’ve come to the wrong place. The reason why we have quiet places to record is precisely because we don’t have kids. However, we know a thing or two about the financial system. This week we help soon-to-be dad Daniel to figure out where he can save for his future baby. 

Daniel

We’re expecting our first in June 2020. I want to, as you so many times suggested on the show, take out a TFSA for the boss baby.

Thing is, I don’t trust the kid to not blow it all on his/her 18th birthday. What will the world look like 18 years anyway. Kids are not becoming more sensible, unless I’m missing something.

You’ve probably covered this one before, but do you have any  tips on trying to prevent this from happening? Or is it just down to ‘good’ parenting, mild manipulation and hoping for the best?

I think I recall Simon mentioning some years back that he pays for his nephews, but can’t remember if it is TFSA or RA?



 

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