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Finding the best saving for my grandsons money
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I have a saving in trust for my grandson that has just matured. (£2,700 to invest). We paid in monthly starting when he was born, it earned 8% the first year.
Is there any website that spells out clearly the charges of any unit trusts we could hold as trustees - the blurbs I have seen are very vague about management and dealing charges, the adviser I spoke to wouldn't give me details on the phone and hasn't sent the literature she promised.
All the cash savings accounts I have found with decent rates, seem to say you can't hold them in trust. Has anyone found a good one?
What do you think about index linked National Savings?
Is there any website that spells out clearly the charges of any unit trusts we could hold as trustees - the blurbs I have seen are very vague about management and dealing charges, the adviser I spoke to wouldn't give me details on the phone and hasn't sent the literature she promised.
All the cash savings accounts I have found with decent rates, seem to say you can't hold them in trust. Has anyone found a good one?
What do you think about index linked National Savings?
Answers
Best Answer
No best answer has yet been selected by dancecaller. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.All the Friendly Society's have accounts for children but i think the max amount is £300 per year paid in a lump sum or £25.00 per month.Investment trusts are another financial product that let grandparents pay in for children until they reach 18yrs old.
What they then use the money for may not be what you intended it to be used for.
I don't think there is any limit on the amount you can invest in an investment trust.
What they then use the money for may not be what you intended it to be used for.
I don't think there is any limit on the amount you can invest in an investment trust.
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