Investing for a child's future

bambibird

I want to set up some form of investment / saving plan for my niece and on the surface there seems to be so many potential options that I do not know where to start. Can any one help? Particularly as she lives overseas. I would like the money to become available to her as she grows up and visits family in the UK she has spending money, or indeed funds that she has access to do with what she wishes. If anyone could help I would be much appreciated... Thanks!

Loughton_Monkey

The fact that she lives abroad probably (in practice) means you cannot do it in her name. [If she comes to UK frequently, and is British, then I may be wrong]. The child would not pay tax, you see.

If, however, you are going to put it away in your name, for her ultimate benefit, then it's as long as a piece of string, because a lot depends on what you already have. Are you filling your cash ISA's for example? So perhaps you could be more explicit. How much, and for how long? Is it in your name, and if so what is ISA/Tax status?

Cautious_Investor_3

bambibird wrote: »

I want to set up some form of investment / saving plan for my niece and on the surface there seems to be so many potential options that I do not know where to start. Can any one help? Particularly as she lives overseas. I would like the money to become available to her as she grows up and visits family in the UK she has spending money, or indeed funds that she has access to do with what she wishes. If anyone could help I would be much appreciated... Thanks!

Hi

Some questions to narrow down your options:

1. How long do you wish to save for?
2. Are you looking at putting away a lump sum or monthly amount? and how much?
3. How much risk do you want to take?
4. Do you have a target fund size in mind at the end of the investment?

The Cautious Investor