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New Born Savings - Options

2

Comments

  • jimjames
    jimjames Posts: 19,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Gurj247 wrote: »
    Thanks JimJames - do you have any recommendations / experience of going this route?
    We used F&C and Aberdeen for our kids. However the F&C charges are now quite high for small investments so I mainly use Aberdeen. You may find a S&S ISA is easier/cheaper if you want the money to be invested in your name.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • smile88egc
    smile88egc Posts: 92 Forumite
    I had been looking to do the same for my new nephew, but with interest rates at an all time low and global growth poor at best, it seems now is a rubbish time to save/invest!!
    So I've just decided to hold off and start saving in a year or 2 when prospects look better, and treat him/his parents a little now!
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    smile88egc wrote: »
    I had been looking to do the same for my new nephew, but with interest rates at an all time low and global growth poor at best, it seems now is a rubbish time to save/invest!!
    So I've just decided to hold off and start saving in a year or 2 when prospects look better, and treat him/his parents a little now!

    I don't believe you've checked recent investment returns then, a diversified portfolio of oeics would probably be returning around 8% annually for the last five years or more.
  • Gurj247
    Gurj247 Posts: 148 Forumite
    Part of the Furniture 100 Posts Name Dropper
    talexuser wrote: »
    Not allowed to give specific funds here since not a financial adviser. Safest route might be a low cost global index tracking fund, through a low cost isa platform. Alternatively an investment trust is a company that is quoted as a share price, and cheapest route can be to go to the trust company direct rather than through an intermediary which takes another level of fees. Sites like Trustnet or Morningstar list top performers, important to look for long term performance and dividend payments rather than the latest top of the table, which might have got there through short term luck.


    Thanks, was not after specific funds but more where I can investigate them, which I assume are the sites you have noted above. Trustnet & Morningstar.
    jimjames wrote: »
    We used F&C and Aberdeen for our kids. However the F&C charges are now quite high for small investments so I mainly use Aberdeen. You may find a S&S ISA is easier/cheaper if you want the money to be invested in your name.



    Whats F&C & Aberdeen? any links.
    It may well be that I end up putting some money into a S&S ISA using my own allowance, that way I will have full control over it.
    bigadaj wrote: »
    I don't believe you've checked recent investment returns then, a diversified portfolio of oeics would probably be returning around 8% annually for the last five years or more.



    Any useful sites that you would recommend for doing more re-search into these investments?




    Thanks to all of you that have responded.
    Date of Update – 08/04/19
    Goal 1 – Reduce Mortgage - £120k/£120k = 100%:j
    Goal 2 – Stupid Fun Car Fund - £11000/£30,000
    Goal 3 – Savings – Rainy Day - £10000/£10,000
    Goal 4 - Daughter Fund - Target £100/mth = £1444
    :j:j:j
  • jimjames
    jimjames Posts: 19,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 29 July 2016 at 12:17PM
    Gurj247 wrote: »
    Whats F&C & Aberdeen? any links.
    Here you go
    F&C
    http://www.fandc.com/uk/private-investors/savings-plans/savings-plans-range/childrens-investment-plan/
    Aberdeen
    http://www.invtrusts.co.uk/en/investmenttrusts/how-to-invest/investment-plan-for-children
    Remember the saying: if it looks too good to be true it almost certainly is.
  • jimjames
    jimjames Posts: 19,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    smile88egc wrote: »
    I had been looking to do the same for my new nephew, but with interest rates at an all time low and global growth poor at best, it seems now is a rubbish time to save/invest!!
    So I've just decided to hold off and start saving in a year or 2 when prospects look better, and treat him/his parents a little now!
    Isn't it a good idea to invest when prices are low? Why wait until they've gone up and you get less for your money? I'm not sure what you're expecting from growth but my portfolio has increased about 15% in the last month.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • xylophone
    xylophone Posts: 45,935 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I know that I want to start a savings account for her own money (she's saving already thanks to money and gifts from family that visit her) so that money will go into a child account that her mum will control.

    This money is an absolute gift to the child - even if held in bare trust she will have the right to access and control at 18 (16 in Scotland).

    I take it that you have no experience of investing in stocks and shares?

    http://monevator.com/category/investing/passive-investing-investing/

    Have a look at the above and check the link to calculating the cheapest platform.
  • xylophone
    xylophone Posts: 45,935 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I had been looking to do the same for my new nephew, but with interest rates at an all time low and global growth poor at best, it seems now is a rubbish time to save/invest!!
    So I've just decided to hold off and start saving in a year or 2 when prospects look better, and treat him/his parents a little now!

    Timing the market? A view....

    https://charlwoodifa.com/news-media/66-time-in-the-market-not-timing-the-market
  • Vortigern
    Vortigern Posts: 3,312 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Baillie Gifford have a children's savings plan which accepts lump sums from £100 and monthly contributions from £25. You can invest in any of the investment trusts that they manage.

    They can supply forms to set up a bare trust if required.

    http://www.bailliegifford.com/individual-investors/how-to-invest/childrens-savings-plan/
  • Gurj247
    Gurj247 Posts: 148 Forumite
    Part of the Furniture 100 Posts Name Dropper
    xylophone wrote: »
    This money is an absolute gift to the child - even if held in bare trust she will have the right to access and control at 18 (16 in Scotland).

    I take it that you have no experience of investing in stocks and shares?

    http://monevator.com/category/investing/passive-investing-investing/

    Have a look at the above and check the link to calculating the cheapest platform.


    Plan is that any money gifted my daughter is put into a bank account for her along with any child benefits etc, I have no problem with her accessing this.


    However I am looking to squirrel away some additional money out of our pocket as a nest egg for her when she is older, but one that can only be accessed for certain things (Uni Fees/Accommodation, Emergency Fund etc).


    Thanks for the link, you are correct I have no experience of investing in stocks and shares, so will have a look at it tonight.
    jimjames wrote: »
    Here you go
    F&C
    http://www.fandc.com/uk/private-investors/savings-plans/savings-plans-range/childrens-investment-plan/
    Aberdeen
    http://www.invtrusts.co.uk/en/investmenttrusts/how-to-invest/investment-plan-for-children


    Thanks
    Vortigern wrote: »
    Baillie Gifford have a children's savings plan which accepts lump sums from £100 and monthly contributions from £25. You can invest in any of the investment trusts that they manage.

    They can supply forms to set up a bare trust if required.

    http://www.bailliegifford.com/individual-investors/how-to-invest/childrens-savings-plan/



    Thanks, will look into that and the different options they are able to offer.
    Date of Update – 08/04/19
    Goal 1 – Reduce Mortgage - £120k/£120k = 100%:j
    Goal 2 – Stupid Fun Car Fund - £11000/£30,000
    Goal 3 – Savings – Rainy Day - £10000/£10,000
    Goal 4 - Daughter Fund - Target £100/mth = £1444
    :j:j:j
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