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10 per month, long term investment
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# 1
Old 21-04-2011, 10:36 AM
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Default 10 per month, long term investment

My nephew was born last year and I would like to invest 10 a month for the next 21 years. The problem I have though is that he was born in New Zealand and as such not a UK resident. Child Bonds and children's savings accounts seem to be out of the equation.

Does anyone have any ideas as to where I could invest for the long-term.

I have worked in insurance and am happy to help anyone who needs help in the murky world of insurance
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# 2
Old 21-04-2011, 10:39 AM
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any regular savings account, with a good interest rate?
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# 3
Old 21-04-2011, 11:17 AM
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I'm not aware of any decent investment products which allow a 10 a month investment at present. I thought Legal & General allowed 20 a month into their trackers, but it looks like those have been increased to 50 minimum, which seems to be the most common minimum now.

Cash savings are going to be a pretty bad idea over 21 years as you will probably find yourself failing to keep up with inflation. Could you maybe club together with a few other relatives and manage 50 a month each into a joint investment account?
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# 4
Old 21-04-2011, 11:23 AM
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You could see whether any of the Investment Trust investment accounts allow as little as 10 per month.
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# 5
Old 21-04-2011, 11:54 AM
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Originally Posted by kidmugsy View Post
You could see whether any of the Investment Trust investment accounts allow as little as 10 per month.
The lowest I am aware of are F&C at 25 per month and Aberdeen at 30 per month. I think you'll have trouble finding one as low as 10.
Remember the saying: if it looks too good to be true it almost certainly is.
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# 6
Old 21-04-2011, 1:34 PM
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20 is the typical minimum nowadays and even then there is only a small number that go that low.
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# 7
Old 21-04-2011, 3:12 PM
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Maybe consider sending the parents 120 a year and ask them to invest/save in NZ for your nephew? Chances are they'll respect your wishes as it's money specifically for their child's future
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# 8
Old 21-04-2011, 5:30 PM
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If you dont use your ISA maybe just put it in there and then send lump sum over when hits 21.
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# 9
Old 21-04-2011, 8:31 PM
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NZ has nice rates of interest
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# 10
Old 21-04-2011, 11:28 PM
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Save it up for a yr and then pay into a fund or safe shares? Otherwise just put it into reg savers as suggested generally pay 5%
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