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  • FIRST POST
    rabster74
    10 per month, long term investment
    • #1
    • 21st Apr 11, 11:36 AM
    10 per month, long term investment 21st Apr 11 at 11:36 AM
    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.

    Thanks
    I have worked in insurance and am happy to help anyone who needs help in the murky world of insurance
Page 1
  • poorgirl-54
    • #2
    • 21st Apr 11, 11:39 AM
    • #2
    • 21st Apr 11, 11:39 AM
    any regular savings account, with a good interest rate?
    • Aegis
    • By Aegis 21st Apr 11, 12:17 PM
    • 4,748 Posts
    • 2,816 Thanks
    Aegis
    • #3
    • 21st Apr 11, 12:17 PM
    • #3
    • 21st Apr 11, 12:17 PM
    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?
    I am an Independent Financial Adviser
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
    • kidmugsy
    • By kidmugsy 21st Apr 11, 12:23 PM
    • 8,498 Posts
    • 5,474 Thanks
    kidmugsy
    • #4
    • 21st Apr 11, 12:23 PM
    • #4
    • 21st Apr 11, 12:23 PM
    You could see whether any of the Investment Trust investment accounts allow as little as 10 per month.
    • jimjames
    • By jimjames 21st Apr 11, 12:54 PM
    • 10,833 Posts
    • 8,898 Thanks
    jimjames
    • #5
    • 21st Apr 11, 12:54 PM
    • #5
    • 21st Apr 11, 12:54 PM
    You could see whether any of the Investment Trust investment accounts allow as little as 10 per month.
    Originally posted by kidmugsy
    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.
    • dunstonh
    • By dunstonh 21st Apr 11, 2:34 PM
    • 85,071 Posts
    • 50,097 Thanks
    dunstonh
    • #6
    • 21st Apr 11, 2:34 PM
    • #6
    • 21st Apr 11, 2:34 PM
    20 is the typical minimum nowadays and even then there is only a small number that go that low.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • edinburgher
    • By edinburgher 21st Apr 11, 4:12 PM
    • 10,090 Posts
    • 52,646 Thanks
    edinburgher
    • #7
    • 21st Apr 11, 4:12 PM
    • #7
    • 21st Apr 11, 4:12 PM
    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
  • rictus123
    • #8
    • 21st Apr 11, 6:30 PM
    • #8
    • 21st Apr 11, 6:30 PM
    If you dont use your ISA maybe just put it in there and then send lump sum over when hits 21.
    Work in progress...Update coming July 2012.
    • sabretoothtigger
    • By sabretoothtigger 21st Apr 11, 9:31 PM
    • 9,968 Posts
    • 6,581 Thanks
    sabretoothtigger
    • #9
    • 21st Apr 11, 9:31 PM
    • #9
    • 21st Apr 11, 9:31 PM
    NZ has nice rates of interest
    Tokyo residential prices have gone from 4x London in 1990 to London in 2014
    Maybe this is one of those cases where you cant go home again,
    by Ben S. Bernanke, former Fed chairman
    • cashbackproblems
    • By cashbackproblems 22nd Apr 11, 12:28 AM
    • 1,381 Posts
    • 508 Thanks
    cashbackproblems
    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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