Savings for children.

[Montello]

I have invested for my nephews and nieces in my isa in an MSCI world tracker. So far it’s done great because of the magnificent 7 but I suspect it will slow a bit but in 10 years or so from now should be a reasonable chunk.

[goregasm]

I have a S&S JISA for each of my boys through Hargreaves Lansdown. They're young still so the JISAs should mature well by the time they all hit 18, I'm hoping I can convince them to convert them into SIPPs once they have access to the funds.

Situation is different for my youngest as he has Down Syndrome, so I'll probably be looking at setting something aside in trust for him

[Mj2k]

No they haven’t unless you have a strange definition of plenty.

Premium bonds are a very poor thing to do with capital long term.

Sure if you have cash you may want in the short term and want to gamble your interest but not long term.

This forum seems to have a strange obsession with Premium bonds.

See this James Shack explanation.

https://youtu.be/q1EcrlFiwP4?si=foB725DX2u6OzXhQ

2 maximum amounts here currently for 2 months, zero wins and bored already. Roll on the next tax year.


Sent from my iPad using Tapatalk

[cman]

7 year resurrection on this one... I've recently become a dad (which has been a positive experience so far, on balance) and been given some money to "stick in an ISA for the lad", and I'd much rather a stocks & shares over cash but my eyes glaze over when I scan the long old list of funds and trackers.

So my question is, what fund/tracker would you recommend? It's not much money (more King Seiko than Grand...) and he's very very little so risk appetite is high.

Reading this thread from years gone by, I appreciate the suggestion of keep it in your name rather than theirs for any savings we put aside for him (as opposed to gifts like this).

While looking at S&S JISA's, not sure if it's a recent thing or not but noticed Hargreaves Lansdown don't charge any fees for kids accounts which seems great.

What did you end up opting for?

[DONGinsler]

Does the UK have anything like Canada's GIC's (Guaranteed Investment Certificates). They don't go down in value, so no worries about loss.

In Canada. Month to month some banks are paying out 4.5 - 5% interest

$500 minimum

[magpie215]

Does the UK have anything like Canada's GIC's (Guaranteed Investment Certificates). They don't go down in value, so no worries about loss.

I'd say closest thing the u.k has is premium bonds.

Tax free winnings on a draw done monthly can cash out at anytime for face value of bond.

Only inflation eroding the bonds value.