Has anyone given some thought to sending up a high-ish yield savings programme for a 2 year old? I'd ideally like to find some kind of long-term bond (e.g. 16 years) that couldn't be withdrawn but that could be increased periodically. This is really to put money given for birthdays, Christmas, etc as well as some savings from us. We're looking at £5-10k per year.
In an ideal world, this would be something we would keep control over until we know what things are looking like in 16 years time. I recall friends from school going off the rails when they suddenly gained access to substantial savings account at 16/18.