Could I have an anonymous post please
My children have been left 52000 each as inheritance there is 3 of them , has anyone any good advice on bank accounts that gain interest it can’t be invested in stocks, I just want to do right by them and for it to make as much growth as possible even trust bonds or accounts it’s abit of a min field to me .
Thanks
Source
ISA
Definitely see a financial advisor.
Before you make any big decisions put it in NS&I bank accounts – one of the safest banks that I’ve used myself in similar situations for large amounts – be careful of paying out for financial advice many are eager to take money and don’t give the best advice. Been burnt a few times….
Use their ISA allowances – and research all options – don’t rush into any investments until you feel comfortable. Best of luck x
See a financial advisor however Tesco bonds are a very good way to grow the money and live off the interest x
Look into Junior SIPPs (pension plan) maybe small amount into one of these for their future. Then rest into ISAs for them.
I was about to type my advice, which I thought was good, but then I read the advice to invest in property, which also sounds good but if it’s their money…. Idk, what if they don’t agree so independent financial advisor…pdq. Lots of rules are changing end of the tax year and you need to make moves to protect that money pdq!
Is there an option to invest it in property?? Imagine buying a house and the value trebles by the time they are responsible for their own inheritance. Plus rental income until then 😳
Go and see a financial adviser
Put it into premium bonds u til u have an idea x
See a financial advisor but have a look at premium bonds too as they have ones for children