Teenager with lump sum to invest

mumof3_2

[Deleted User] wrote:

Hi,



so the fund is in your own name rather than you paying in over the years 'for the benefit of son', that could then be transferred into his name at a certain date?

Were you getting accumulation units or income units, I suspect accumulation units considering your intentions.

My thinking is that if you/he cashes in now and buys back there won't be as many units, because he will be buying at today's price, and as dividends are ??? pence unit, return will be reduced.

(Hope that makes sense, I know what I'm trying to say.)

Yes, the fund is in my name. It was always my intention to pass it on to him, but as a single mum with a limited income, I wanted to protect the family in the short term too; I didn't want to find us in a position of financial hardship while the kids had £££ stashed away that could have helped. Fortunately, we've survived.

I get accumulation shares. Are you suggesting I should just leave it as it is and he'll have to trust that I'll cash it in when he needs it?

mumof3_2

Flugelhorn wrote: »

is he going into higher education? if so might just need the money now

If he does go into HE, it won't be for another 2 or 3 years and he would continue to live at home. He has an autistic spectrum disorder and is not a 'typical' 18 year old i.e. he never goes out - not that I've saved for 18 years for him to drink it all!

Flugelhorn

mumof3 wrote: »

If he does go into HE, it won't be for another 2 or 3 years and he would continue to live at home. He has an autistic spectrum disorder and is not a 'typical' 18 year old i.e. he never goes out - not that I've saved for 18 years for him to drink it all!

Fair enough - it is the accommdation that seems to be £££

[Deleted User]

Hi,

mumof3 wrote: »

I get accumulation shares. Are you suggesting I should just leave it as it is and he'll have to trust that I'll cash it in when he needs it?

I would think that his investment will be safe enough, if you'd been going to raid it you'd've done it before now.

Could do with Dunstonh looking in, he's the man for this kinda query.