Best child savings accounts for reg saving

undlou

Hello,

I'm looking put 100% of my 1yr sons child benefit into a savings account for when he turns 18.

Can anyone recommend any savings accounts for very young children over a long period of time?

Or perhaps someone has a better idea on how to do it.

Thank you

eskbanker

Whatever you do would be best handled via a junior ISA to shelter the money and growth from tax, see https://www.moneysavingexpert.com/savings/junior-isa

For a long 17 year period, it would make more sense to invest rather than save, as cash-based savings are unlikely to keep pace with inflation, so a S&S JISA is likely to be the best option....

jimjames

As above I definitely wouldn't use cash savings accounts. Share based ones should give a far better return over that timescale

xylophone

https://www.vanguardinvestor.co.uk/investing-explained/stocks-shares-junior-isa?cmpgn=PS0517UKPAJIS0002&gclid=EAIaIQobChMI-rGp6o7m1gIVyZkbCh0tZA8UEAAYAyAAEgLz9_D_BwE

https://www.charles-stanley-direct.co.uk/Our_Services/JISA/

http://www.hl.co.uk/partners/search/junior-isa?theSource=PCHLJ&Override=1&adg=G+HLBJ+JIS&gclid=EAIaIQobChMIl6nNkI_m1gIVaDPTCh1pTgz5EAAYAiAAEgIQMfD_BwE

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

http://www.telegraph.co.uk/investor/ideas/telegraph-25-the-definitive-list-of-our-favourite-investment-fun/

http://www.telegraph.co.uk/money/special-reports/top-junior-isa-funds-chosen-experts/

http://www.whatinvestment.co.uk/revealed-three-best-funds-junior-isa-2017-2553393/

Some reading.....

Alexland

I am investing for my son with a Orbis Access S&S Junior ISA holding the Global Equities (actively managed) fund but a Vanguard Investor S&S Junior ISA holding the Target Retirement 2035 (mostly passive indexing) fund would also be a good choice.

undlou

Thanks for all your help

Flobberchops

If you want some cash savings, you could do worse than the Halifax Kids Regular Saver which has recently had its rate raised to 4.5%. Stocks and shares will probably do better long term though.