Me and my wife want to set up some sort of savings/investment for my 2 year old son that we can pay into each month for him to have at 21. What would you recommend.
Thanks in advance
Accounts in children’s names are accessible to the child at 18 rather than 21 – if this is suitable then consider a Junior ISA, otherwise you’ll need to save or invest in your own names and gift the proceeds at your convenience later on….
For 19 years, the stock market is likely to give a better return than savings.
Perhaps you/your wife/both could use your ISA allowances with a view to making him a gift at age 21 or whenever…[Read more]