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Hi all Just wanted to ask a quick question. We had a boy last July and I'm wanting to put something a month away for him in the future. I have a isa and share account with HL and was wondering would it be better for me to open junior SS isa for him or to open an account which I can give him when he turns 18 to continue his investing journey? He has a cash isa as his normal bank account to pay in birthday monies and gifts this is just abit extra TIA
If you're comfortable with investing, I would say it's a really good idea to open a stocks and shares ISA. You won't need the money for another 17 years, so you really have a ton of time to weather out any bumps along the road.
You'll get minimal returns from just putting it in a bank account.
You should get far better returns in stocks and shares. You have another 17 years which really mitigates your risk and, as you say, can be a good way to teach him about investing.
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