Children investments

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
3 replies 664 views
fiona_T_2fiona_T_2 Forumite
2 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
My husband and myself wish to invest £5,000 for each of our children as well as contributing monthly to it. Any suggestions on best options?

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  • edited 24 August 2016 at 8:56PM
    jimjamesjimjames Forumite
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    edited 24 August 2016 at 8:56PM
    Lots of choices, depends whether you want children to have automatic access at 18 or whether to control in your name.

    If automatic then JISA, if your name then S&S ISA. Personally I'd probably pick a fund such as Vanguard VLS80 or 100 to go in it but that might depend on their ages and when the money is needed.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • dunstonhdunstonh Forumite
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    recommending investments is a regulated activity and would be a breach of the board rules if we were to do it.

    However, even if we were to ignore that, you have given us absolutely nothing to go on as to reduce the 50,000 or so options that exist.

    Discussion and comment can be made but give us a bit more to go on. Are you looking at trusts (probably not with just £5k) but are you looking at Junior ISAs, or unit trusts where you are in control but the investment is held under designation or investment trusts or did you mean savings accounts? How old are the children and when did you want them to have control of the money?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Thank you for taking the time to respond. I am sorry if I am being vague but this is totally new language to us both. ISAs, Shares etc is really allen and we are just trying to find out as much as possible and the best options for investing. Our kids are 9, 11 and 13 we have CTFs obviously and a small post office accounts that we use to put away birthday monies etc but we want to invest this money for them and begin more regular savings. I know its probably a lot later than most people but we are really only in a position financially now to begin doing it. Thanks again.
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