What financial investments would you make for a child?

MrPea

MrPea

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3,013
Hello hive mind of useful miscellany!

I want to give a few hundred quid to my godson who is having his dedication ceremony (similar to christening). I want it to be something for him to use for himself later in life and for it to give some sort of return before he uses it.

What options do you folk know of, and potentially recommend either for or against, please?
 
Hawk13

Hawk13

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1,471
Wristwatch.

Buy pre-owned and you can get some lovely timepieces for sensible money. I have a 1971 Omega Geneve and 1972 Rado NCC101 in my collection that cost me less than £300 inc the cost of a service.
 
E

Ebenezer

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4,485
Start a pension. Tell his parents that all money given to him needs to be diverted into it. No sweets
Eb
 
zagatoes30

zagatoes30

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20,882
Watch is a good call, buy well and it will likely increase, it's a it more thoughtful than gold or money in the bank and it's something he can look back on and remember you
 
hunta

hunta

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405
Boring answer - set up a bare trust with godson named as recipient and parent(s) as trustee. Take your pick from a raft of products and therefore asset classes from the likes of Hargreaves Lansdown et al. He should get good capital growth over the long-term and it creates a convenient pot for cash gifts from other kindly relatives and benefactors.

Heart vs Head. Given why we're all here I'm pretty sure which tends to win out round these parts.
 
MrPea

MrPea

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3,013
hunta said:
Boring answer - set up a bare trust with godson named as recipient and parent(s) as trustee. Take your pick from a raft of products and therefore asset classes from the likes of Hargreaves Lansdown et al. He should get good capital growth over the long-term and it creates a convenient pot for cash gifts from other kindly relatives and benefactors.

Heart vs Head. Given why we're all here I'm pretty sure which tends to win out round these parts.
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Thanks. Yes, I'm after him having available rainy day type cash in the future.

After all, when he's old enough, ideally he'll have cash in the bank to buy his own V8 and insure it.
 
Wanderer

Wanderer

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5,791
MrPea said:
Thanks. Yes, I'm after him having available rainy day type cash in the future.

After all, when he's old enough, ideally he'll have cash in the bank to buy his own V8 and insure it.
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No V8's then. Be all Gleaming Alloy Air-Cars coming towards you two-lanes wide.....
 
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