£3000 to invest for my 18 year old...

fifipoo

Hi all...newbie here. My daughter has recently been given £3000 and we want to invest it for maximum interest...happy to tie it up for a few years. Any advice on the best place to put it??? Thanks!:)

atush

This is the pensions forum. Unless you want to lock it up untiel she is 55, then this isn't the right place to ask.

How many years do you want to tie it up? If 3 or less, you should probably keep it in cash. unfortunately, the NSI index linked certs were withdrawn from sale yesterday, so a 3 year bond might be good, or a one year and reinvest when it matures. If she is owrking and paying tax, then an ISA.

If 5 or more you can look at equities as well. Try the savings and investments forums