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Need somewhere to invest

My son who is 15yrs has a saving policy due in August worth approximately £1056.00 he is looking for somewhere to save this money and make money maybe an ISA or stocks and shares. Could anybody advise on the best options. The money will probably be invested for about 2yrs till he is 17 then he will be able to have driving lessons and maybe buy a 2nd hand car.

Comments

  • dunstonh
    dunstonh Posts: 120,181 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    He cannot have an ISA at 15. Plus 2 years isnt a good idea for a stocks and shares ISA anyway for the average person.

    Stick with a savings account.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Nicky321
    Nicky321 Posts: 1,426 Forumite
    Thanks dunstonh
    Any idea which savings account has best rates?
  • duckhunter
    duckhunter Posts: 13 Forumite
    there's artiicles by martin on the site
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