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Suggestions: saving regularly for 18+ years for a god child
djpix99
Posts: 53 Forumite
I would like to save £20 monthly for at least 18 years as a pot to help out my god child when he's of an age that he want to travel, buy a car or house. I'm looking for an option that is pretty hand off, possibly stocks and shares. Ideally in my name as I would like to choose when I feel the right time is to hand the money to him. I had looked at Vanguard, however you have to pay in £100+ per month, any suggestions?
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Comments
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If you start with the £500 lump sum then rumour is Vanguard will take a lower regular contribution. Another option might be to start with £100 per month then drop the contribution rate after the first one (or after reaching £500) and see what they do, if anything.
Alternatively Cavendish are 0.25% for £50 per month or HL are 0.45% for £25 per month.
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Alternatively, use a regular saver savings account and then deposit/invest annually.
Best to keep things in your name, just in case you don't know how many children you will end up being a God Parent for
Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0
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