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What other ways can I save for our newborn?
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[Deleted User]
Posts: 0 Newbie
I want to save some money for our newborn, however those Junior Isa's don't sit right withe as they gain control over the money at 18 and I would rather see it held until 21 so they could use for Universtity or a house.
Any ways I can do this?
Any ways I can do this?
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Comments
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Have more confidence in your offspring! You got 18 years to educate them to be financially savvy0
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Have more confidence in your offspring! You got 18 years to educate them to be financially savvy
Disagree - I got a (very small) inheritance when I was 25. If I'd have had it at 18 I'd have p****d it up the wall but at 25 I was responsible enought to put it towards a house deposit. 21 is a good age.
Apologies I have no suggestions on how to do this. Mine was a (very small) trust fund that had been set up for a number of children.0 -
regular contribution in unit trust/oeic. Maybe held under trust to age 21.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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Definitely equities based investment. Open a S&S ISA in your own name and invest regular amounts in a low cost tracker or investment trust (recommend City of London and Murray International for starters). Reinvest any dividends to supercharge the returns.
YOU decide at what age to pass it on to your child.0
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