Santander JISA - Change to Stocks & Shares JISA?

[joestifff]

So we currently have two JISA's with Santander (1.0% currently) for our 5 and 3 year old. They currently have about £5k and £3.5k in.

We put in around £50-£80 at the moment into each one. DD every month.

Appreciate the the interest on the Santander JISA is low. I am risk averse generally, but this is long term, and they have about 13-15 years left till they both hit 18. Hoping to up payments into it every month over the coming years too, obviously depends on life situation at the time!

Would it be better if they were in Vanguard JISA Stocks and Shares. Do they except low monthly payments as above? Is it easy to just let it do its thing? Managed? Or will the fee ruin any gains over the Santander?

[duckson]

Moved over my kids (13 and 15) from cash JISA’s to S&S ISA’s with Vanguard a few months back, both invested fully in FTSE Global All Cap (7000+ companies).

While it’s not really up or down currently they will only be using the money for a house in probably 10yrs plus so plenty of time to go up (or down).

Given the timescales involved with your age of kids it’s a no brainier IMO. I wanted to do it 2 years ago but the Mrs vetoed it (not ‘gambling with shares’ she said) and look how that turned out (would be massively up now).

Future might not represent the past and all that of course….

PS you can pay in any amount I think, I’ve paid in £20 and invested it in the Global All Cap anyway.

Edited by duckson on Thursday 5th May 17:22

[Colonel Cupcake]

I would do it. Our three have Vanguard S&S JISAs for about 18 months and the best performer as of today is up 14% and the worst is up 5%. It's no accident that the best performer was opened first.

According to the Vanguard website, the minimum monthly deposit is £100

https://www.vanguardinvestor.co.uk/need-help/answe...

[chip*]

Check out Fidelity JISA which is free of platform fee (quite a saving over 13 years), plus you have access to the full market i.e. buy your Vanguard or whatever fund you want.

[thekingisdead]

I would switch to S&S over those timescales - esp if you’re continuing to contribute - buying into falling markets etc

[Mopey]

Colonel Cupcake said:

I would do it. Our three have Vanguard S&S JISAs for about 18 months and the best performer as of today is up 14% and the worst is up 5%. It's no accident that the best performer was opened first.

According to the Vanguard website, the minimum monthly deposit is £100

https://www.vanguardinvestor.co.uk/need-help/answe...

HAve not read the link but I pop £20 a month into my sons S&S ISA a LS100 so think you can pop in what you like. However some like a VWRL you have to purchase complete shares so depends which ETF or product you get.

[joestifff]

Thanks

Sounds like it is definitely worth doing then. Will get in touch with Vanguard regarding the minimum amount you can contribute.