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Saving money for our children to access at age 21
Bluefusion
Posts: 106 Forumite
We have opened regular savings accounts for our children (in their names) which we have been putting money in for birthdays, christmas etc and this will be theirs to spend when they are 16 and take over the account.
However, we want to set-up additional accounts which we don't want the children to know about and that they can onnly get access to when they are around 21. We have a lump sum of around £1,000 to start with and idealy the end result will go towards something special such as them moving home, or a wedding etc.
What are are options for setting up such an account/investment so they can't access it until the age of 21?
However, we want to set-up additional accounts which we don't want the children to know about and that they can onnly get access to when they are around 21. We have a lump sum of around £1,000 to start with and idealy the end result will go towards something special such as them moving home, or a wedding etc.
What are are options for setting up such an account/investment so they can't access it until the age of 21?
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