My Kids Investments.

copthis1

I have a 16yr old and a 13yr old and I have been paying £25 a month into what was the Invesco Perpetual Rupert Fund which is now the Childrens Share Acc.

They both have approx £4000 each. Quite simply, should I consider any other place to put the money?

ISA for the 16yr old?

Laymans terms please as all this financial talk gives me migraines.

All help gratefully received.

cloud_dog

It depends what other forms of savings (as opposed to investments) the children have.

For the 16yo I would consider the option of cashing some of it and moving it in to a savings account so as to not lose out if/when there is a market correction.

Of course, if the children have suitable svings monies then you may choose to leave it where it is.

dunstonh

Quite simply, should I consider any other place to put the money?

What are the objectives for the investment? (when is it for, do you want to transfer it in situ or encash it etc)

what reason would you have for putting it elsewhere?

copthis1

No real plan, cant see either of them going to Uni. It is just a nest egg.

I just want them to have as much as possible, would be the simple answer.

I only asked the question because I am a plodder and let things sit and then find out 'that if you had done this' blah blah blah.

jinkster

Personally, I wouldnt give it to them or tell them about it until they were 25 and had a sensible head. I wasn't lucky enough to have this free money given to me but I know people that were and had the money at 21, they bought an old BMW and blew the money!