Investing for adult son in Canada?

geemac

Hi,
I have a grown up son living in Canada, still single, and am looking for suggestions or alternatives to sending out money for Christmas and birthday presents.

He doesn't need the cash, which would just lie in his bank account, not earning very much. He would also have additional cash that he could use to better effect and perhaps add to from time to time.

Is there any account, or investment, that I can open in his name or is this something that he has to do. I would be thinking of something with good capital growth, income reinvested, and for the long term.

He is "living the dream" and not really thinking about pensions or other financial matters at the moment so I really need some advice to pass on.

Thanks

atush

You could set up an investment trust savings plan. In your name initially, then once set up transfer it to him (but keep paying into it).

xylophone

http://www.tddirectinvesting.co.uk/choose-an-account/other-accounts/
"Overseas Residents Trading Account"

Perhaps your son could open one of these and you could provide the wherewithal for regular investment into an Investment Trust?

geemac

Many thanks for the suggestions, I will look into this further.:o