Lump sum investment to mature as kids reach 25 years old?

scooby_2-2

Hi.

My mother passed away recently, leaving a modest amount (£1,000.00 each) to her 4 grand children aged (18, 15, 15 & 12).

The request was for it to be left and presented to them on their 25th birthday, which is obviously going to vary in term for the individual chilrdren.


Is there a "best" type of account, or account provider for this kind of thing, who, where Etc.


Mike.

mad

hi Scooby 2 (Is there a Scooby 1)

Sorry about your mother, it is always awful to lose a parent

You will find that the people on here are always willing to help, atleast that is what I have found. There have been a number of threads asking similar questions with regard to investing for children which you will find if you search through this section of the board.

Even the 18 year old here is going to have to wait 7 years for the dosh so how you invest the money will depend on how much risk you want to take. Personally over this period I would invest the money in shares through Unit trusts or ISA's as over the long term they still out perform savings accounts. You probably need to start looking in the Savings and Investment section over on the left of the screen. There are also other sites to check out like:
http://www.fool.co.uk/index.htm?NavLoc=TN&NavTo=home&NavFrom=
and
http://bestinvest.co.uk/index.asp

There are loads more so do your research. I am sure there will be other suggestions from other MSE members