Invest with my child, not necessarily jisa

tms88_user

Hi
I am after any advice on how I might invest with my child aged 13. I am keen to show him the benefits and potential pitfalls of investing, compound growth etc. 
We will probably put in £20-25 per month, the key point being he will make the decisions and "learn". 
Most likely we will choose funds as that's my preference but suspect he may pick a few shares too - to help learn and show the difference!
I already have a junior stocks and shares ISA for him with about 3.5k in it, he is not aware of this account yet

I guess my options are 1. To use the junior ISa and just ring fence the initial 3.5k or 2. Some other account.

What other accounts or platforms are there for this purpose.

I already use H&L and ii

I am keen for it not to be in my name as that defeats the purpose!

All thoughts and opinions welcomed

wmb194

tms88_user said:

Hi
I am after any advice on how I might invest with my child aged 13. I am keen to show him the benefits and potential pitfalls of investing, compound growth etc. 
We will probably put in £20-25 per month, the key point being he will make the decisions and "learn". 
Most likely we will choose funds as that's my preference but suspect he may pick a few shares too - to help learn and show the difference!
I already have a junior stocks and shares ISA for him with about 3.5k in it, he is not aware of this account yet

I guess my options are 1. To use the junior ISa and just ring fence the initial 3.5k or 2. Some other account.

What other accounts or platforms are there for this purpose.

I already use H&L and ii

I am keen for it not to be in my name as that defeats the purpose!

All thoughts and opinions welcomed

For small amounts of money like that I’d use a Trading212 ISA (fractional shares, zero commission and fees) but I’d keep it in my name but just earmarked for him.

QrizB

I'd sign up for a demo account where you can "trade" without actually using any money. Try that for a couple of years.

In the meantime put the money in a JISA.

ChilliBob

As above - virtual trading, then if there's a genuine interest, you could move to real trading. I'd think HL is a good place, their JISA has free dealing costs too. Ii do a research account too, so do that then do HL. 

Get some reading going too if they're keen - some of the more recent books on this are fairly accessible to someone who is 13 and switched on I'd guess. Some will be a bit too complex obvs