Child Trust Fund ?

Nick9967

Hi , my middle child has circa £18k in a Foresters Child Trust Fund. He turns 18 March 21 , then off to Uni a few months later.
I'd like to be able to give him some guidance on the the best approach to this money , it'll be his decision, but he wont have a clue and will need my advice.
Any pointers or ideas on how he can get the most form this pot.
Few kids are lucky enough to have this sort of money at that age so it needs to make a difference to him
Note: already has a car in place and we will subsidise Uni to a certain degree.
Thanks

eskbanker

https://www.moneysavingexpert.com/savings/which-saving-account/ gives an overview of where best to put savings, but doesn't address the higher level question of saving versus investing (accessible or pension).  A Lifetime ISA seems an obvious place to start for £4K/year, given the 25% free government money added towards a first property purchase, but for the rest, much depends on when it's likely to be needed.

What did your older child do in a (presumably) similar situation?

Nick9967

eskbanker said:

https://www.moneysavingexpert.com/savings/which-saving-account/ gives an overview of where best to put savings, but doesn't address the higher level question of saving versus investing (accessible or pension).  A Lifetime ISA seems an obvious place to start for £4K/year, given the 25% free government money added towards a first property purchase, but for the rest, much depends on when it's likely to be needed.

What did your older child do in a (presumably) similar situation?

Hi eskbanker 
thanks, was hoping there may be something i hadnt considered but not sure there is
LISA
SAVINGS
START PENSION WITH A COUPLE GRAND 
Older child did not have the same value so was not an issue really