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Investing Money for Children
3 Answers
I want to invest some money �2000 for each of my kids, any idea what will give me the best return?
Answers
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No best answer has yet been selected by manutd2465. 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.It really depends on what you mean by 'best return'. It also depends on their current age(s) and when you want to give them control over the money. I also assume you mean children, not goats.
Safest - probably a building society or bank account for each of them. Make sure that the income tax relief form is signed though. Also, don't necessarily be fobbed off with a children's account as not all of these are as generous as they probably should be.
Consider Premium Bonds - no capital increase and not necessarily any winnings... but they just might win a million.
Depending on your own tax and marital status, look at trust fund options - keeps the money away from the children (and you!) until they reach a specific age - and could be invested in the FTSE or other stocks/bonds/etc.
If you have a financila adviser, talk to her/him.
FYI, my son has a bulding society account of which I am trustee - he can't have access until at least the age of 16; also, his grandparents give him premium bonds and a god-mother gives him NS&I Baby/Children's Bonds.
Hope this helps.
Safest - probably a building society or bank account for each of them. Make sure that the income tax relief form is signed though. Also, don't necessarily be fobbed off with a children's account as not all of these are as generous as they probably should be.
Consider Premium Bonds - no capital increase and not necessarily any winnings... but they just might win a million.
Depending on your own tax and marital status, look at trust fund options - keeps the money away from the children (and you!) until they reach a specific age - and could be invested in the FTSE or other stocks/bonds/etc.
If you have a financila adviser, talk to her/him.
FYI, my son has a bulding society account of which I am trustee - he can't have access until at least the age of 16; also, his grandparents give him premium bonds and a god-mother gives him NS&I Baby/Children's Bonds.
Hope this helps.
Try having a look at http://www.uknetguide.co.uk/Finance/Child_Trus t_Fund_Brochures_/
You can get a load of brochures sent to you that will give you a really good idea as to which one is for you.
I requested some brochures from UKNetGuide before and they came remarkably quickly
You can get a load of brochures sent to you that will give you a really good idea as to which one is for you.
I requested some brochures from UKNetGuide before and they came remarkably quickly