As the title suggests i'm interested to hear what people think about an idea I had of signing my newborn son up to Kiwisaver now to brew up a nice lump sum for when he leaves home. I figure if I put $1k in each year at a conservative interest rate he could have ~$40k or so without too much trouble.
I don't know the exact ins and outs, nor have I spoken to anyone 'qualified' about it, yet but just throwing the idea around.
I can't see too many cons on doing this but the largest of which would be that I don't think he could use it for his education, only housing/retirement... true?
Thoughts?