The British public has long had a love affair with premium bonds, but the figures show that buying premium bonds for children or grandchildren is likely to be an unrewarding relationship. My own experience is a good example: I have a few hundred pounds in premium bonds from my late grandparents. Over about 20 years, I have won £50.
Investing for children
I felt a bit mean at Christmas 2017. With my son only a couple of months old and dribbling being his main hobby, it was decided that the only present under the tree for him would be something he won’t get his hands on for at least 16 years – a Junior Isa.
The costs that a young person faces in early adulthood are on the rise: a university degree, a wedding and a first home are all getting more expensive. However, investing for a child’s future can help them get off to a good financial start.
During the summer months I became a statistic, part of the ‘2 per cent club’ – the frighteningly low number of fathers who have chosen to take advantage of Shared Parental Leave (SPL).
Kyle Caldwell, Money Observer’s deputy editor, is on the lookout for an investment to potentially buy and hold for the next 18 years.
For younger family members, here are some financial gifts that won’t be consigned to the dustbin come Boxing Day.
Record numbers are saving for retirement, but the amount of money savers are putting into a pension is far too low. Liz Alley at Brewin Dolphin has a solution.
Investment trusts are able to meet the different objectives of investors as requirements change in the transition from cradle to grave.
Money in a child's Jisa or pension might not count as their favourite gift on the big day, but they'll have much to thank you for in the future.
What are the best ways to help your child while encouraging independence, asks Sarah Lord at Killik Chartered Financial Planners.