Savings for new born

cstew

I have a new born baby who I am looking to save money for their future.

I have been looking in to a JISA but not sure if this is the best option. I would have a small lump sum to start off with and would be looking to invest between £25 to £50 a month.

Any advice or previous experience of this would be helpful as not sure exactly where to start. Have been looking at articles etc... on JISA but presonal recommendations would be nice. Would be looking for an account that I can keep track of online or through an app.

Thanks in advance.

xylophone

The JISA is a good option provided that you accept that your child will have the absolute right to control the account at 16 and to access at 18.

https://www.gov.uk/junior-individual-savings-accounts/overview

http://www.telegraph.co.uk/finance/personalfinance/investing/funds/11644391/One-fund-for-my-child-which-one-should-I-pick.html

http://monevator.com/how-to-invest-for-children/

Other posters have commented favourably on Charles Stanley but you need a minimum first subscription of £500 and minimum of £50 per month thereafter.

Plenty of information available at Hargreaves Lansdown.

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

jimjames

Certainly for a newborn I'd be looking at a share based plan whether JISA or otherwise. With savings rates so low the return will be negligible just staying in cash and over 18 years you have plenty of time to iron out market fluctuations.

slowpoke_rodriguez

stocks and shares ISA for sure!
Markets may go up, markets may go down, but in 18 years time there will be a tidy sum to spend on tats and bikes!
(If you tell her...)

cstew

Does anyone know if Vanguard LifeStrategy 100pc Equity is available in a JISA anywhere? Would this be a good option?

atush

yes, it would be good.

I chose investment trusts for mine, and used Witan and F&C. They can be Jisa'd (for access after age 18) or unwrapped to held for longer perhaps?

I used the pot to pay for University living expenses. My 3 have all graduated with 0% student debt as a result.

xylophone

Does anyone know if Vanguard LifeStrategy 100pc Equity is available in a JISA anywhere? Would this be a good option?

Have you checked the links in my post above?

https://www.charles-stanley-direct.co.uk/News_Features_Research/vanguard-lifestrategy-funds-%E2%80%93-one-stop-portfolio-solution/

http://www.hl.co.uk/partners/search/popular-funds/vanguard?theSource=PC060&Override=1&adg=G+FVGD+VLS&gclid=CPaS2M7g684CFcLGGwod684Bqg