Long term savings advice

[rhinochopig]

We've just acquired a lawn-chimp, so I would like to set up an account to cover university fees when he hits 18 (or a new car if he doesn't want to do the uni thing).

There is a lot of conflicting advice around at the moment, so I was hoping that someone on PH might have found the most effective way of doing this?

Any tips gratefully received.

Thanks

[rhinochopig]

Brown and Boris said:

rhinochopig said:

We've just acquired a lawn-chimp, so I would like to set up an account to cover university fees when he hits 18 (or a new car if he doesn't want to do the uni thing).

There is a lot of conflicting advice around at the moment, so I was hoping that someone on PH might have found the most effective way of doing this?

Any tips gratefully received.

Thanks

I starting putting just £20 a month in a savings account when my son was 8. 10 years later (about 8 years ago) it was worth about £3K which he wasted chasing some girl around the world (is that wasted?).

If I was doing it again I would go with equities over the long term: simple FTSE tracking with low fees. There was a post the other day that the research suggests that long term, even more expensive managed funds do no better than those which track the FTSE closely.

I am sure there are specialist products that make the most of the tax position if the saving is 15 years plus and destined for school/uni fees.

Depends - did he get the girl?

Cheers B&B!