need advice on very small investments please

Wilkesy

Hello. I wonder if I may ask you some advice please?

My father passed away not very long ago and I need to split his savings; as small as they were; between the grandchildren. When I say small it will probably work out about £150 between six kids.

I am looking for something that I know dad will want them to keep or be of 'some use to them' when they get older' ... two of the kids are nearing to finishing school and (probably) starting college. Perhaps being able to access the cash by the age of eighteen. I know it isn't much but that's all there is really. I reckon it's better going to them being the next generation, but because I would just spend it on jobs in the house and I don't want to do that.

What are my best options? Do I purchase some gold ? Is a Premium Bond the best way to go or are there other options? I'm not sure about getting shares as they can plummet oh so quickly these days; and I think it's a lack of trust to be honest.

So would really appreciate your help/advice on this one guys. Or even a point in the right direction of where to go for professional advice.

Many thanks.

brasso

Really sorry to hear about your dad passing away.

You're right that 150 UKP is not much. To be honest, there is not a lot you can do with it. Even with compound interest, it would take a very long time to turn into something that would make a difference.

Personally, I think the Premium Bond idea would be reasonable. I think the minimum purchase is 100 pounds so you'll be OK. They tend not to be great investments when the likelihood of a good win is analysed but there is always the possibility you might strike lucky and the kids might have some fun checking the numbers.

bugbyte_2

Sorry to hear about your Father. How about a 1/2 sovereign @ about £126? It's something they could keep as a reminder.

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Sanchsoot49

Hi Wilkesy

I think the Premium Bonds idea might be the best thing for the kids in the circumstances. There is always the chance that something might come up.

A lovely thought to let the kids have it but TBH there isnt really much you can do with that amount of money.

Good luck

Wilkesy

Thanks guys ... Duh, just re-read my post. It will be £150 each not between them. But, it looks like Premium Bonds is the best way. Many thanks for your advice

Wilkesy

bugbyte wrote: »

Sorry to hear about your Father. How about a 1/2 sovereign @ about £126? It's something they could keep as a reminder.

That's not such a bad price for a half sovereigns; given that they range from £195 - £250 with the Royal Mint might even ponder that one too.

I just wanted them to have something they were able to get out of too. You know, so as they can perhaps spend/accumulate money for when they turn 18