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Investing for school fees question
Options
crazycatlady1984
Posts: 194 Forumite
deleted deleted deleted
big bad debts: Gone!
[Mortgage: [STRIKE]£152,864 [/STRIKE] [STRIKE]£150,805[/STRIKE] [STRIKE]£149,000[/STRIKE] £145,000 [/STRIKE][/STRIKE]:eek: £215,000:eek:
[Mortgage: [STRIKE]£152,864 [/STRIKE] [STRIKE]£150,805[/STRIKE] [STRIKE]£149,000[/STRIKE] £145,000 [/STRIKE][/STRIKE]:eek: £215,000:eek:
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Comments
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Well, I suppose the question is asking for the advantages and disadvantages of each approach, particularly with respect to risk-reward, rather than simply a list. I'm sure you could fill up 500 words about the options that you have? But I'm not sure you'll find many people here who have studied this particular course.0
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Agreed with Brendon. As it mentions a "technical document", I'd imagine that you'd need to go into detail on each option regarding the features, tax (including, income, CGT, and IHT), flexibility, investment choice, ability for further top ups etc.
Good luck with the course."If you will change, everything will change for you." - Jim Rohn
I simply use these forums to share my knowledge, reinforce my learning and experience as an IFA. Please remember, if your circumstances are complex, speak with your local IFA from Unbiased or VouchedFor directories for regulated financial advice.0 -
Think you have some of the common options outlined there. Not sure about endowments since there aren't really any providers who do them now?
An interesting option could be the use of a pension plan (eg stakeholder) from the grandparents. As the new rules could allow full drawdown from next April, the g'parents could invest into a pension in their own name for maximum tax benefits and gross roll up. Then draw it down when needed for school fees each year and benefit from 25% tax free element too but remainder taxed at their highest marginal rate of tax. Clearly there are pros and cons of this but certainly an option.Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.
Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.0 -
Fees. (No apostrophe.)Trying to be a man is a waste of a woman0
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