Saving's grand children option's

chili1496

I have 2 little grand children and would like to put £1000 away for each of them. I would like it to be safe and secure and be able to add to the pot on birthdays etc. What are my options other than opening a bank account for them.
any suggestions welcome

kidmugsy

You could always buy them £1000 each in premium bonds.  But if the plan is to leave the money to grow over a long time - e.g. until they are 18 - then shares would typically be a better bet (though maybe not now while the markets are so high).  The shares could be held in a Junior ISA (JISA) which, I understand, their parents would need to open for them.  This is the sort of thing I have in mind.
https://www.vanguardinvestor.co.uk/articles/latest-thoughts/investing-success/jisa-allowance-can-give-children-huge-head-start

Vanguard's main business is to sell "funds" and "ETFs" which spread the investor's money over large numbers of shares so that the investor won't lose too much if one company does badly.  My impression is that Vanguard are widely thought well of; of course they have plenty of competition.