Gift from The Godfather

chipfire

I am Godfather to a one year old and wanted to make some sort of financial contribution to his future. £100 of premium bonds was my first idea, whilst they are a bit of fun I get the impression they are not that clever. Without prying into the parents financial matters what else could I do with that £100 that would benefit him in years to come?

si1503

I like the idea of investing it for them, especially if you plan on tying it up for a while. I've got a one year old son and plan on putting some money away for him in a couple of UK equity funds shortly. Perhaps an even split between invesco perp and jupiter high income. I have heard of others favouring trackers for their kids. You could also put it into their CTF, or open up a little savings account for them, although potential returns from the latter won't be quite as high as the investing route.