Intergenerational wealth transfer QUESTION.

[Ramiran]

Its like this:

You are over 55 with 3 kids 6, 9, 11, and don't expect to see 70, ata 60 ni bahati.

Now, you have 3m which you would like to invest for the 3 kids in much the same way many invest for their kids by purchasing land. i.e benefits to the kids in 15 - 20 years in the future.

What are the pros/cons of the following:

1.Open a high earning long term fixed diposit account with the 3m for the kids.

2. Buy a pieces of land worth 3m

Which one would earn most in said 15 - 20 time ?

Asante.

 

[Meria]

Its like this:

You are over 55 with 3 kids 6, 9, 11, and don't expect to see 70, ata 60 ni bahati.

Now, you have 3m which you would like to invest for the 3 kids in much the same way many invest for their kids by purchasing land. i.e benefits to the kids in 15 - 20 years in the future.

What are the pros/cons of the following:

1.Open a high earning long term fixed diposit account with the 3m for the kids.

2. Buy a pieces of land worth 3m

Which one would earn most in said 15 - 20 time ?

Asante.

Land na sio hizi overpriced 1/8th karibu na town.
Kuna places hio pesa can give you over 8 acres

 

[Aviator]

Its like this:

You are over 55 with 3 kids 6, 9, 11, and don't expect to see 70, ata 60 ni bahati.

Now, you have 3m which you would like to invest for the 3 kids in much the same way many invest for their kids by purchasing land. i.e benefits to the kids in 15 - 20 years in the future.

What are the pros/cons of the following:

1.Open a high earning long term fixed diposit account with the 3m for the kids.

2. Buy a pieces of land worth 3m

Which one would earn most in said 15 - 20 time ?

Asante.

Hakuna option ya kuzitumia mwenyewe? That amount can last until ufikishe 60 if you spend 50k monthly.

 

[Okiya]

Never open an account with the bank in the name of savings.

 

[shocks]

Never open an account with the bank in the name of savings.

yep

 

[Ramiran]

Land na sio hizi overpriced 1/8th karibu na town.
Kuna places hio pesa can give you over 8 acres

Alafu value ya hio 8 acres in said 15 - 20 years itakua aje ?

 

[Giggz]

Depends on many factors.

Alafu value ya hio 8 acres in said 15 - 20 years itakua aje ?

 

[Ramiran]

Hakuna option ya kuzitumia mwenyewe? That amount can last until ufikishe 60 if you spend 50k monthly.

Mimi niko na zangu, na za fees yao. Hio 3m ni investment ya watoi.

Nani anajua zile mahesabu za how an FD account accumulates over said 15 - 20 years using average current interest rates i.e no withdrawals and all interest earned is put back to increase initial 3m ?

 

[shocks]

Wealth can be passed down in many shapes and forms, one of them is a first class education for the kids that are book smart. A first degree here then masters majuu places kama Canada/Germany using that cash can be a great start to their career.
But this would need ufike 70

 

[Meria]

Alafu value ya hio 8 acres in said 15 - 20 years itakua aje ?

Depends on many factors.

Lañd appreciates

 

[Ramiran]

Lañd appreciates

Not at the same rate in all places the land could be located at

 

[Ramiran]

Never open an account with the bank in the name of savings.

This is not saving, its investing and earning and reinvesting said earnings

 

[kingolonde]

CBK IFB

 

[Okiya]

This is not saving, its investing and earning and reinvesting said earnings

You will earn meagre interest which will be subjected to taxes. Fixed deposits ya 3m will not take you anywhere. Umeshaambiwa peleka hiyo pesa CBK 15- 20 years

 

[Luther12]

Mimi niko na zangu, na za fees yao. Hio 3m ni investment ya watoi.

Nani anajua zile mahesabu za how an FD account accumulates over said 15 - 20 years using average current interest rates i.e no withdrawals and all interest earned is put back to increase initial 3m ?

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[Masgwembe]

15 - 20 years is good time to grow hardwood trees on leased land for timber harvesting & associated products.

Also a good time and amount to invest in stocks, gold bullion etc.

 

[Memes]

I would go for buying land in my own opinion.