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Long-term regular savings for kids (not CTF)
chrishilton
Posts: 2 Newbie
I have CTFs for my two kids (8 and 5) but would also like to setup separate long-term regular savings schemes for them that I'm not planning to touch until they're at least 18. I thought that maybe a standard investment fund might be the way to go but don't have much experience in that area. Any suggestions would be greatly appreciated.
Cheers,
Chris
Cheers,
Chris
0
Comments
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I thought that maybe a standard investment fund might be the way to go but don't have much experience in that area.
A regular contribution unit trust or investment trust is very common. Try to avoid children specific savings plans as they tend to be expensive.Any suggestions would be greatly appreciated.
its a regulated area and difficult to suggest anything as you could get people saying anything from using bond funds right up to gold funds or oil funds or whatever. Your risk profile is not necessarily the same as theirs.
If you want to DIY then start doing your research by looking at what unit trusts or investment trusts fit how you want to invest.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.0
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