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Splitting lump sum to invest
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kibbutzangel
Posts: 28 Forumite
We are shortly going to have a lump sum of £40,000. Our thoughts are:
1. Invest some safely for our 13 year old to have access at 18 and 21.
2. Invest some safely for ourselves!
As we have very little income coming in at present we'll also need access to around £1,000 per month.
What would be the best way to invest lump sums for a child?
We are presuming that ISAs are the best way for our money to go, although we can only invest so much per year, is that correct? If so where should we keep the rest of the money until it can be safely invested? We'll also be looking for a joint account.
Any advice appreciated!
Ang
1. Invest some safely for our 13 year old to have access at 18 and 21.
2. Invest some safely for ourselves!
As we have very little income coming in at present we'll also need access to around £1,000 per month.
What would be the best way to invest lump sums for a child?
We are presuming that ISAs are the best way for our money to go, although we can only invest so much per year, is that correct? If so where should we keep the rest of the money until it can be safely invested? We'll also be looking for a joint account.
Any advice appreciated!
Ang
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