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Children's Stocks Shares Fund
jinkster
Posts: 376 Forumite
Looking at setting up a children's stocks and shares fund but would like access to savings if required before the child reaches 18. Can anyone recommend something? Thank you.
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Comments
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Does it need to be in trust or can it be held by the parent/grandparent unwrapped? (i.e. not in a tax wrapper but just plain vanilla investment).
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
It won't be thousands of pounds initially so not tax wrapped. Plan is to put £50 / month into the account since birth and by the time Child is 24-ish will have a nice little nest egg. I'd rather go stocks/ shares/ fund so it will grow much quicker than cash and measly interest. £15-20k at 24 would be nice for house deposit etc.0
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I save for my son in my own S/S ISA (AJ Bell). That way I maintain control, irrespective of his age.
So no chance of him using it to buy a motorbikes at 18 when I want to use it for say uni, or house deposit“Like a bunch of cod fishermen after all the cod’s been overfished, they don’t catch a lot of cod, but they keep on fishing in the same waters. That’s what’s happened to all these value investors. Maybe they should move to where the fish are.” Charlie Munger, vice chairman, Berkshire Hathaway0 -
We did a bit of both, as I feel it is important for young adults be aware of financial responsibility but recognise the possible reality. Started with contributing in the childs account, when it got to a certain size we stopped further contributions. And we also designated investments in our own accounts for benefit of the child (our choice).Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0
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