junior saver, isa or investment

zombie_mum

Hello

Its my first time posting and im just starting to get my head around the financial world. Iv just set up me and my husband an ISA and I was looking into an account for our daughter. This is where I need advice

Junior isa, junior saver or investment trust. I would really appreciate it if any of you could spare a minute to explain the differences, pros and cons. I think I have read so much infomation, iv blurred it all into one.

Also any recommendations, my daughter is coming up one and its a fund for uni, house, car ect.

Thanks in advance.

bigfreddiel

she'll thank you for starting her pension right now as well, that will give her a 20+ year had start on her mates.

cheers

fj

xylophone

Parents saving for their child outside tax privileged schemes like JISA need to be aware of the "£100 rule" - see here http://www.nsandi.com/you-and-your-money-kids-and-money-investing-their-behalf-money-parents
http://www.sit.co.uk/products/investing_for_children/features/questions_and_answers/

If you are content that the child will have access at the age of 18, the JISA might be what you would prefer. https://www.gov.uk/junior-individual-savings-accounts/overview

The best paying cash JISA (provided that the parent has an ISA with them) is the Halifax Child ISA see here. http://www.halifax.co.uk/isas/

For stocks and shares information here http://www.topjuniorisa.com/compare

http://www.hl.co.uk/investment-services/junior-isa


http://www.telegraph.co.uk/finance/personalfinance/savings/9868588/Junior-Isas-How-to-pick-the-best-saving-plan.html
http://www.investorschronicle.co.uk/2013/03/06/your-money/savings/use-the-junior-isa-with-caution-GZ5lpv5WkXmgbE8TovKe0O/article.html