How to invest £500 for my 11 year old?

Goonerak

My dad has just given me £500 for my son. Can anyone give me some suggestions on how best to invest it. He did say it could be used to pay for school trips, etc but I can easily fund those sort of things so I would rather just put it away somewhere safe until he is 18.

I'm also thinking of putting away a little bit each month for him (it might only be £10) so something that I could incorporate this with would be useful.

ebyard

How much risk do you want? An ISA for 7 years at 6% interest won't make much, so you could think about buying some shares now whilst the market is low (hint: RBS), and in 7 years they should be back in the private sector and be have incresed by 400%, returning £2k.

You could always take him to a casino and stick the whole lot on red........