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Investments

Discuss investments with other users on our Investment forum. For more advice read our tips for saving for your child's future.

Investing for Newborn

2 replies

ElleMcElle · 02/01/2018 10:14

Hello - we're due to have our first child in a few days and I'd like to set up a basic investment product that we / grandparents can pay into at birthdays / Christmas etc and he can access when he's older. There must be something tax-efficient and low-risk with better return than a basic savings account - but I have no idea where to start... Would love to hear what sort of things have the more financially savvy of you have set up for your kids / grandkids? Thanks so much!

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Mycarsmellsoflavender · 02/01/2018 11:30

Junior ISA in shares. We do a regular investment of £25 per month into ours but I think you can also open one with a lump sum contribution. IIRC it's accessible only by the child when he/she reaches 18 so plenty of time to build up savings. You need to shop around to find the best deal for your needs. Some of them charge a flat fee per year e.g. £30 whereas others charge a percentage of your total assets.

ElleMcElle · 02/01/2018 11:46

Thanks @Mycarsmellsoflavender! Will look into that.

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