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Investing for a newborn
giraffe25
Posts: 32 Forumite
Our daughter is 9 weeks old, and am thinking about investing in her future about £50 per month, until she is 18/21.
But i still would like control of this money so I could decide when she is responsible to use the money wisely, not spend it on shoes!!
What would be best, Tax free childrens account 5.05% (halifax) , or equity unit trust paying 8% say, but having to pay interest or would she?
any ideas and help would be greatly appriciated.
Thanks
But i still would like control of this money so I could decide when she is responsible to use the money wisely, not spend it on shoes!!
What would be best, Tax free childrens account 5.05% (halifax) , or equity unit trust paying 8% say, but having to pay interest or would she?
any ideas and help would be greatly appriciated.
Thanks
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Comments
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18-21 years and you really ought to be looking at equity backed investments rather than deposit based.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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