Saving for Children
Saving and Investing for the Children in your Life
Many people wish to set aside money for the children in their lives - even small amounts tucked away can build up a substantial nest egg, so the sooner you start putting money away for a child, the better. You may be investing to cover future school and university fees; to help them buy their first home; or simply to provide a welcome financial boost when they need it. However you are related, and whatever you are saving for, we make saving and investing for children as easy and effective as possible.
Our Saving for Children Solution
Forecasting your future finances
When it comes to saving for children, we analyse and forecast your future finances through cashflow modelling to be able to answer questions around how much you can afford to save each month without affecting your lifestyle; whether you are currently on track to achieve your savings goals; and how much money you will need to save now in order to pay for education fees or a house deposit in the future.
Finding the best route
There are many different options available when it comes to saving and investing for the children in your life, each with different allowances and tax rules. We help to find the best solution, potentially using a combination of tax-free Junior ISAs; pensions; trusts and designated accounts.
Solutions are tailored to when the money is needed; how much control you wish to have over how money is spent or when it can be accessed; and whether you are the person best placed to invest - sometimes it is more tax-efficient for grandparents or others to invest for a child.
Choose when and how money is accessed
You may wish to decide how money that you are saving for your child is spent or when it can be accessed. Setting up a trust can allow a child access to the money only once they have reached a certain age and gives you a say over how it is spent. We will talk you through the available options to help you make the right choice.
Investments Carry Risk. The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. The Financial Conduct Authority does not regulate trusts.