Mutual fund Australian Unity is running promoted posts across Instagram for its long-term investment bond, 10Invest, marketing it specifically towards parents.
The image shows a toddler leaning over to peer into a dresser drawer and carries the caption: “Because one day, Olivia will need a house deposit.”
On Australian Unity’s website, a range of case studies are provided to show how 10Invest can deliver healthy returns over time, with one example featuring a fictional dad and his son.
“Lewis recently inherited a sum of money from his grandmother. He values having his own ‘bricks and mortar’ home and understands that it could be tough for his son Zack to own his first home.
“At age 25 when Zack is ready to set out on his own, Lewis can provide the help he promised with $173,412. He contributed $100 a month to the policy after investing the $50K he inherited.
“And because he invested for over 10 years, Zack can withdraw his money as a lump sum, or a regular income stream, with no personal income tax to pay.”
The reality facing many young would-be first homebuyers right now is grim, with skyrocketing home prices, dwindling supply and intense competition combining to make the Great Australian Dream something of a nightmare.
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Disclaimer: The above is intended as general market commentary only and is not intended as, and does not constitute, advice of any kind. No liability is accepted for any action taken based on the above or for any loss suffered as a result of reliance on the same.
