Stocks and shares ISA

kipsterno1

masonic said:

kipsterno1 said:

Just a thought but how is it going to work when you gift the children this money? Say for example you decide to gift it on their 21st birthday with a four year difference in age and potential market changes one could have a larger pot than the other.

Strictly inflation should also be taken into account. A final adjustment could be made to balance it out so both receive the same in real terms. Or it could be treated as a life lesson in the unfairness of Mr Market Naturally, the investments should be derisked in the years approaching making the gift, assuming the money will be spent rather than reinvested.

Totally agree, just wanted to make sure OP was thinking about it.

Microbe65

I had the same dilemma. I was interested in using Global Index Funds, fortunately of which there are several (HSBC, Vanguard etc). Sure, they are not identical, but similar enough for me. So I use a different fund for each child.
It does mean multiple dealing costs, but as I'm with iWeb and fund each annually as a buy and hold, I can live with £5 per deal.
Also, as they are all held in the same S&S ISA, it also made it easy to de-risk a fund to a STMMF at the time I felt appropriate, but retaining the ISA benefits.

jimjames

j83man said:

Do companies only usually let you open 1 stocks and share ISA? thanks

Yes but you could have different tracker funds for each of them so they cover the same index but each child has a different fund so you know which belongs to each.