The Best Way to Save For My Child

wmb194

Personally I've gone sour on saving for children in their own accounts. If you have the headroom, I'd use your own Isa allowance and use an investment in a S&S Isa to earmark something for them. This way you'll get to choose when they get the money rather than them just having it to splurge at 18 (16 in Scotland).

Albermarle

Baldytyke88 said:

Albermarle said:

OP - Be aware that there two schools of thought regarding starting pension for children/young people.

The opposite one to the above is that the young people would benefit more from having money in the Twenties than their Sixties, when they may well have a pension from work and not need the money.

Or even help them retire in their 50s?

Probably by then you will not be able to withdraw from a pension until you are at least 60.

daveyjp

Stocks and shares JISA with lowest fees and with 15 years to invest you can consider higher risk options.

At 18 it can be moved to a similar investment suitable for adults.