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Transferring to stocks and shares children’s ISA
generaleddie
Posts: 2 Newbie
Hi, my 5yo daughter has a small amount of savings (6k) in a children’s isa which is currently earning next to nothing. Given her age and the recent market drop would now be a good time to transfer to a stocks and shares isa? I’ve never invested myself so it’s all a bit new to me. A family member suggested Moneybox but I’m not sure how I should compare it to any alternatives?
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Comments
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Well if she is 5 and cannot withdraw until age 18 then 13 years is a good investment timeline. However with Cash JISA rates as high as 3.6% then you would need to go fairly high risk and low cost to stand a good chance of outperforming cash after fees. Moneybox are roughly twice the price of holding a similar fund in a Vanguard Investor JISA. Remember to derisk on the years leading up to withdrawal.
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