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A gift to my children that I will not see them enjoy sounds like a very abstract and strange concept. How is it possible to give my children a gift that I will not see? Many a time I find myself standing in a store looking at toys or items that I know will only give them a few hours of entertainment and then shortly forgotten in a box or on a shelf. The boxes will continue to fill and the shelves will run out of space until their emptied during the festive season and then the cycle repeats itself. 

Aside from an education that will empower my children to pursue careers that are both personally and financially fulfilling, they have the gift of being able retire with an already existing financial nest egg. The gift to my children that I will not see is that of a Retirement Annuity policy.   For example, my seven-year-old has had her own RA since the age of four. This means that she will have the benefit of 56 years of compounded interest on the invested fund value, should she choose to retire at age 60. It will give her an advantage in the number of years of saving, in comparison to many of her peers that will only start when they have their first permanent job, probably around the age of 24.

Albert Einstein said:” Compound interest is the eighth wonder of the world, he who understands it owns it, and he who doesn’t pays it”.

As a working mum, I have realised that the corporate world is always changing and the pace at which it does, increases each year. The demands that our careers places on our families and lifestyles usually means planning the days and weeks accordingly. There isn’t a great deal of time left for much else in between the morning school runs, evening homework, extra mural and the weekend chores.

Giving my daughter this gift that I will never get to see her enjoy, makes my time spent as a professional working mum worthwhile.

Jaynashree Ellary