Child Investments

Now33

Can anyone suggest where I could look for an investment for my eight year old son? I am looking to save i the region of £50.00 per month for him, to give back a lump sum when he is say 18 or 21. I want to invest in an equity account as opposed to savings (he already has a cash account) and I am prepared to take a risk with a stock market investment given I am looking quite long term. I know there are a lot of schemes out there for child trust funds, but he wasn't eligible for one of these due to his age. There are also ISA accounts out there as well, but of course he is not eligible for an ISA.

Any advice greatly appreciated.

webbie

I have had exactly the same problem as my children (9 and 7)now get given so much money each birthday - I wanted them to save it until they are 18 - and when they will REALLY want it!:rolleyes:

The only company i found is The Children's Mutual - they specialise in children's savings - minimum term is 10 years.
https://www.thechildrensmutual.co.uk

Hope this helps!

dunstonh

unit trusts or investment trusts are a good option for children.

Now33

dunstonh wrote: »

unit trusts or investment trusts are a good option for children.

Can you suggest where I start with this - any websites with a list of companies? Is there any suggestions what I should/shouldn't look out for?

dunstonh

Can you suggest where I start with this - any websites with a list of companies?

There are about funds/trusts available to you. Each has different investment aims and different risk profiles.

You need to decide where you want to invest and how much risk you are willing to take. £50pm allows 2 funds at £25 each so you can mix a little. If you really dont have a clue about where to invest then you can pick a fund of funds which leaves the areas to invest and choice of funds to a fund manager. These are quite good for small investments.