We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
How would you invest £10000???
Options
Horasio
Posts: 6,676 Forumite
My son is about to turn 18 and he has it in a child's account with a low-ish rate of interest.
We tend to go for instant access accounts with a high rate of interest.
He is living at home and wanting the money for a deposit on a house when he leaves home, so don't want him touching it till he leaves home
Have you got any suggestions? I am not au fait with risky or portfolios - just a simple soul
We tend to go for instant access accounts with a high rate of interest.
He is living at home and wanting the money for a deposit on a house when he leaves home, so don't want him touching it till he leaves home
Have you got any suggestions? I am not au fait with risky or portfolios - just a simple soul
An average day in my life:hello: :eek::mad: :coffee::coffee::coffee::T 
:rotfl: :rotfl: 
:eek::mad: :beer:
I am no expert in property but have lived in many types of homes, in many locations and can only talk from experience.
:rotfl: :rotfl: :eek::mad: :beer:I am no expert in property but have lived in many types of homes, in many locations and can only talk from experience.
0
Comments
-
Savings fountain: http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1103213261,45760,Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
Hi. Just to add to the above. Unless your son is working and paying tax, the Mini-Cash ISA won't be applicable to him. If he is working and not likely to need the cash for a year or so, then that is the best place to put the first £3,000. If this doesn't apply, then any of the e-savings accounts would be good, i.e. Nationwide, A&L, First Direct. It depends on how long you intend to 'save' the money before your son will need access to it.0
-
But it will be of consequence in future tax years that he will be paying tax but doesn't need the money.cadboll wrote:Hi. Just to add to the above. Unless your son is working and paying tax, the Mini-Cash ISA won't be applicable to him.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
Very true! Must have been half asleep when writing that!! Thanks.But it will be of consequence in future tax years that he will be paying tax but doesn't need the money.0 -
He is a full time student, living at home, is looking for work but does a lot of odd jobs for us - he's wicked with electrics, electronics and computing - yes that what he is studying
He won't need the money until he leaves home which is likely to be when he graduates and gets a full time job
Thank you all for your replies An average day in my life:hello: :eek::mad: :coffee::coffee::coffee::T :rotfl: :rotfl: :eek::mad: :beer:
I am no expert in property but have lived in many types of homes, in many locations and can only talk from experience.0 -
If he is anything like my son he certainly will need the money. Most students end up deep in debt by the time they graduate. "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards