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Investment/savings ideas for young teen

4 replies

EarthlyNightshade · 17/12/2022 11:05

DS2 has a small part time job and has saved some money.
He has about £200 that he would like to invest.
What would you advise?
I would like the money to be safe, but he doesn't mind a bit of risk. I'd be inclined towards a savings account with decent interest but he wants stocks and shares. I am not sure what it possible with that small (big to him) amount of money.

He has some premium bonds already and as he never won anything, I don't think we'll do that this time.
Many thanks for any ideas.

OP posts:
ZeViteVitchofCwismas · 17/12/2022 15:49

Index tracker fund.
Think minimum is usually 100. So he will buy a little of everything
Once he's comfortable with the platform and app....he should think about a balanced portfolio of more index funds eg vanguard's (read about Jack Bogle).and a small % on more gamble fund's or individual shares. But the bulk should be a big basket full of lots of things, America funds usually best spread.

ZeViteVitchofCwismas · 17/12/2022 15:49

@EarthlyNightshade

EarthlyNightshade · 17/12/2022 17:04

Thank you. I will look into this.

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hamustro · 17/12/2022 17:42

There are junior stocks & shares ISAs available with places like Hargreaves Lansdown and Fidelity so any gains he makes will be tax-free (not that it's likely to be an issue for him with £200 invested but may be useful in future!). I don't think he will be able to take the money out until 18 if he uses a junior ISA though so make sure you do your research on it - I'm not an expert, I just know they're out there!

If he does use a junior ISA he may be able to access a whole range of investment funds within the ISA. If you look at the website of junior ISA providers they will often have tools to help you pick investments, like this sort of thing: www.fidelity.co.uk/funds/navigator/
www.hl.co.uk/investment-services/junior-isa/investment-ideas

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