About to become an aunt

[sparksie]

I'm about to become an aunt. I want to be a really good aunt but I'm quite scatty, have a low income, and don't live near my DB.

Has anyone invested for their nieces and nephews? If so how did you do it?

I would love to invest on their behalf but I don't want to have to manage lots of accounts.

Any ideas?

Premium bonds?

Being interested in your niece / nephew and spending time with them is what makes a good aunt rather than investing money. If you're living far away, that can be WhatsApp + video calls. Get over to them when you can for the day and as they get older, you could offer to babysit to get quailty time with them and give their parents a break.

Agree re spending time with them. Asking the parents (& being interested in the responses!) about how they (the child!) is getting on - parents love to talk about their kids, and an interested auntie offering to be a sounding board, not necessarily to advise unless asked, is nice, and that way you get to know what the child is like etc.
And as they get older - babysitting framed as come for a day out with auntie/ I want to spend time with you … even if it’s just a hot chocolate at the cafe, hanging out at your place type stuff.

thank you this is really helpful. I don't get on too well with my DB or his wife which doesn't help things.

In your shoes I wouldn't be investing for them. I'd give attention to them in whatever way I could instead.

Agree with others - time is far more important than money. One of my friends is godfather to my kids and has always been around them; now they are teens, they very much have their “own” relationship and that’s obviously very nice for all concerned.

Aunt here. Agree with others, time and attention is more valuable. Kids need an alternative to their parents sometimes, different opinions, different experiences, be the fun aunt. This is a good opportunity to build on your relationship with your DB too.

In financial terms, rather than investing on their behalf, a better way might be to just invest on your behalf, but to include something in your will to reflect nephews/nieces. In practical terms, this protects your money in case your circumstances change and you need the money yourself.

I am expecting my first baby and I wouldn't even think of anyone saving for my child. It's my responsibility. Time and attention is the best gift. I remember my parents siblings looking after us when needed, we were spending summer holidays at grandma, my dad's sister arrived as well etc. They were really good times.

No I haven't but they are named recipients in my will as I don't have kids of my own. Mine seem to remember and appreciate the most random small things rather than big expensive gestures (which I don't tend to do).