Investing for kids?

[ssray]

Where's the best place to start looking? should be 1K or so every few years, but we dont want the little bu**ers spending it on ps3`s etc.
Ray

[Andy OH]

I presume you mean Childrens Investment Plans i.e. long term investment plans that the kids can only access once they are 18. There are many to choose from and many Investment Companies that run these type of plans.

My kids investment plans are with one of the funds managed by the company I work for. This particular fund has had a 54% return over the past 3 years which I am very happy about as I chose the fund in which to invest their money. We also contribute £25/month for each child.

Best to do a Google search on Childrens Investment Plans and then start your research. Once you have picked a handful of Investment Companies contact them for their Childrens Investment Plan packs and then choose which one you think is best. Remember though that investment plans should be considered as long term as the value of the fund is dependent on the price of the stocks that the fund invests in.

Edited by Andy OH on Monday 21st February 16:01

[ssray]

Thanks, will do.
Ray

[Beardy10]

You can start a pension for your kids.....you get basic rate income tax relief on it too! Obviously they can't get their mits on it for many,many years but it will mean that one financial worry they will have is slightly less worrying.

[RemainAllHoof]

Beardy10 said:

You can start a pension for your kids.....you get basic rate income tax relief on it too! Obviously they can't get their mits on it for many,many years but it will mean that one financial worry they will have is slightly less worrying.

Yes, they will thank you when they retire. Their pot will be crazily big, I expect. (Shame I started at 30; I urge all younger PHers to look at a private pension... sure you might die tomorrow but you didn't die yesterday or the day before.)

[Beardy10]

RemainAllHoof said:

Beardy10 said:

You can start a pension for your kids.....you get basic rate income tax relief on it too! Obviously they can't get their mits on it for many,many years but it will mean that one financial worry they will have is slightly less worrying.

Yes, they will thank you when they retire. Their pot will be crazily big, I expect. (Shame I started at 30; I urge all younger PHers to look at a private pension... sure you might die tomorrow but you didn't die yesterday or the day before.)

You can put in £2,880 a year which gets grossed up to £4000 approximately. I have no intention of telling my kids about it.

I won't do it for very long but will do it for three or four years and then hopefully let the compounding do it's job.

[rog007]

I bought mine a nice car. Of course, I drive it just so that it stays mechanically sound...