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£3,000 for student to invest
Lady_Luck_7
Posts: 1 Newbie
My daughter will be 18 next week and has received £3,000 pounds. She is currently at 6th form college and is planning to study for the next 4 years. She doesn't have a part time job at the moment but when she does she will probably not use all her tax-free allowance. What is the best way to invest the money for the next 5 years. I doubt that she will be able to add to this for the first 4 and I would see any restrictions on accessing the money for 5 years as a plus!
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Comments
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Depends on her attitude towards risk. She can stuff it in an ISA now before 5th April, then her tax free allowance starts again, and she can add up to £3K per year0
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See the Mini Cash ISA article on this site, you can invest £3k per tax year. A&L pay 5.2% and ICICI pay 5.15% (not a mini cash isa, normal savings account).2014 running challenge 587.4 miles / 250 miles0
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Deffo. I stuck mine in an ISA and had some surplus which I shoved in an Abbey online account.0
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