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Lump some for 3 year old
dac71
Posts: 1 Newbie
Hi,
My 3 year old has inherited £20,000 and at the moment it is sat in a low interest savings account in my name. What is the best option for some long term savings for her?
Thanks
My 3 year old has inherited £20,000 and at the moment it is sat in a low interest savings account in my name. What is the best option for some long term savings for her?
Thanks
0
Comments
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If you are a tax payer then you don't want it in your name as you'll have to pay tax on interest.
It does depend on your attitiude to risk, but personally I would put it into a stocks & shares portfolio and get an advisor to suggest that for me according to whether I wanted cautious/medium or aggresive portfolio.0
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