Child investment advice
Discussion
My mother (in her late 70's) is looking to invest a sum of money on behalf of my 2 teenagers (aged 16 & 14). Probably looking at around £10K each. I was thinking a simple stocks & shares ISA. Would this be the best idea?
Is it worth investing in a childs ISA or simply go for a standard ISA? We wouldn't want them accessing the money until they're 21 so we simply won't tell them about it. Obviously when the oldest is told about his we'll have to tell the youngest but we'll simply tell him he can't access it until he's 21.
Any suggestions on how best to do this?
Is it worth investing in a childs ISA or simply go for a standard ISA? We wouldn't want them accessing the money until they're 21 so we simply won't tell them about it. Obviously when the oldest is told about his we'll have to tell the youngest but we'll simply tell him he can't access it until he's 21.
Any suggestions on how best to do this?
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