Child Trust Fund

Beany1973

Hi, what’s the best advice to give my som when he receives his CTF money upon turning 18? (Approx £12k) Was thinking of a lifetime ISA, cash ISA or stocks and shares ISA. Or a combination or something else ? Any thought appreciated

daveyjp

The starting point is what he will need the money for and when. If he is in employment his priorities may be very different to him being in education.

Beany1973

good point ! Thank you. He’ll take a gap year and then hopefully go to uni. I’m hoping he won’t need the money for either

Heedtheadvice

A excellent time to start investing but that is often far from thoughts at that age!

I would try to encourage him not to splurge the lot and waste years of saving in the CTF but do use a small fraction to get a bit of enjoyment. Going to Uni is not cheap and in the coming few years there will no doubt be lots of financial demands. Having a cash pile or longer term investment will be welcome whenever it is useful.