Meet the grandparents giving a unique gift to their grandkids for Christmas
The Wallis family are one of many who are steering away from traditional Christmas presents for their grandchildren.
Instead of standard presents, Grandpa John and Grandma Chris have found a way to invest in their grandchildren to make a difference in their future.
"These days kids have got so much they don't really need a lot more stuff," John Wallis told 9News.
Instead of buying gifts for their grandkids, the Wallis' give something to their offspring all year round.
"We give a monthly donor a contribution, so $25 each to the six grandchildren each month, and then the fund gets topped up occasionally by uncles and aunts."
This kind of unique investment is part of a growing trend for baby boomers to help them invest in their grandchildren's futures.
"We are seeing a real rise in those over 60 years, about 25 per cent increase in Australians over 60 opening a kids account," a spokesperson for Vanguard Australia said.
Vanguard isn't the only platform, with many banks offering trust accounts for minors, with other portfolios designed for children include online adviser Stockspot and micro-investing platform Raiz.
"Even if it was $10 or $15 a month, putting money aside adds up," Chris Wallis said.
Image credits: Nine