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saving for our first grandchild
citydweller
Posts: 1,142 Forumite
hi.
i've just found out that my daughter is expecting our first grandchild in feb 2009. and i would like to save a regular amount for him/her in a high interest account in his/her name until he/she reaches the age of 21.
i would also like to do this without his/her knowledge.
is this possible? and which account would be the best one??
many thanks
anne x x
i've just found out that my daughter is expecting our first grandchild in feb 2009. and i would like to save a regular amount for him/her in a high interest account in his/her name until he/she reaches the age of 21.
i would also like to do this without his/her knowledge.
is this possible? and which account would be the best one??
many thanks
anne x x
Murphy's no more pies member 142.
weight on 13/02/08 16st.
0
Comments
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Relatives can contribute into the child trust fund that the parents will open with their £350 voucher.
The only 'drawback' with the CTF is that the child (and only the child) will have access to the cash when they are 18. So if they grow up to become a 'tearaway' (not that they will - lol), they could spend the cash on any old rubbish.
I'm sure that you could set up an account in trust that they couldn't get their hands on 'til age 21 though. May be an idea to speak to an IFA as with a 21 year timescale, you could maximise your profits through exposure to the stock market.John :beer:
Life's too short.........0 -
saving for our first grandchild
You don't actually have to buy them you know!
Yes alright, I'll get mi coat. :doh:Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Max_Headroom wrote: »You don't actually have to buy them you know!
Yes alright, I'll get mi coat. :doh:
:rotfl: . Close the door behind you!John :beer:
Life's too short.........0
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