What financial investments would you make for a child?

[lifes2short]

I watch the occasional episode of this and the various similar programmes.
Two weeks on the goldfield with a metal detector, a bunch of mates and loads of beer, sounds like fun.

hats off to that Parker Schnabel think he's early 20's and mining kg's of the stuff, donkey Hoffman crew couldn't find gold in a jewellery store even if they tried no wonder they're not in the new series

 

[cheshiremaserati]

For long term growth, it has to be in a stocks and shares ISA - returns are tax free and no CGT either - with an upper limit for this tax year of £20k that can be put into a S&S ISA.

But sadly, a few hundred quid has zilch impact. If you have a budget of £500 (say), investing it in cash is a waste of time - the rates of interest are less than inflation - effectively eroding your funds.

Just buy him a decent present that he can enjoy today. Watches have been suggested but again for anything that is likely to retain its value or appreciate, it is a budget of £10k or so for a decent Rolex Submariner (ideally one of the 50th Anniversary one - 16610LV - with the green bezel that are now around £12k-£15k when 5 years back they were selling for £5k - £6k:

https://www.markworthingtonjeweller...MI1t3v5pb55QIVmKztCh0AZAFGEAYYBiABEgKJ_PD_BwE

 

[CatmanV2]

hats off to that Parker Schnabel think he's early 20's and mining kg's of the stuff, donkey Hoffman crew couldn't find gold in a jewellery store even if they tried no wonder they're not in the new series

He was, what, 17 when he started. His grandfather was something else as well!

C

 

[lifes2short]

He was, what, 17 when he started. His grandfather was something else as well!

C

If I remember correctly he was helping his granps at the golden nugget mine when he was a really young kid and took it over from him when he was 16, it's just gobsmacking what these miners do in the Yukon, grossing millions of pounds in the 4 month window of work before the weather turns and the amount of earthmoving is simply spectacular

 

[MrPea]

So, so far, the suggestion is to buy a toddler a Rolex!

 

[lifes2short]

or a share in a Yukon gold mine

 

[Hawk13]

So, so far, the suggestion is to buy a toddler a Rolex!

You are not going to get a Rolex for a 'few hundred' but I stand by the advice to buy a watch.

I have a good few (for love of the design complications and not as investments .... but they have all gone up more than inflation) and have bought both my son and daughter watches for their 18th birthdays.

 

[Navcorr]

So, so far, the suggestion is to buy a toddler a Rolex!

Do you have share options in the company you work for?

 

[CatmanV2]

So, so far, the suggestion is to buy a toddler a Rolex!

A gold Rolex

C

 

[lifes2short]

A gold Rolex

C

of course, anything else would be a poor mans Rolex

 

[MarkMas]

LEGO™

 

[Devonboy]

Junior ISA £4,368 pa plus stakeholder pension £3600 (Includes £800 free money from HMRC) and the younger they are the more risk you take - back the risk down at around age 15 and then at 18 it’s ready for them

 

[dem maser]

i have a few clients who have started isas and pensions for their children, any money earned goes into it especially the "LISA" account where the government add 25% to your contribution for them to use on their first property.

 

[jasst]

does anyone watch Gold Rush I'm absolutely fascinated by it

Never missed a single episode!

 

[jasst]

If I remember correctly he was helping his granps at the golden nugget mine when he was a really young kid and took it over from him when he was 16, it's just gobsmacking what these miners do in the Yukon, grossing millions of pounds in the 4 month window of work before the weather turns and the amount of earthmoving is simply spectacular

It's great viewing, but I do wonder what the profit margin per ounce is, when it first started they had clapped out old equipment, but now they spend millions on plant, and associated fuel costs etc.

 

[CatmanV2]

It's great viewing, but I do wonder what the profit margin per ounce is, when it first started they had clapped out old equipment, but now they spend millions on plant, and associated fuel costs etc.

Not a lot

I recall some of them having operating costs of $100k a week
C

 

[lifes2short]

It's great viewing, but I do wonder what the profit margin per ounce is, when it first started they had clapped out old equipment, but now they spend millions on plant, and associated fuel costs etc.

I think the net profit is still pretty healthy, it seems parker is mining on average anywhere between 300 and 400k per week, lets say 100k costs that's still 200 to 300k profit ??

 

[CatmanV2]

I think the net profit is still pretty healthy, it seems parker is mining on average anywhere between 300 and 400k per week, lets say 100k costs that's still 200 to 300k profit ??

Yes, I imagine it's not exactly un-profitable if you're on good ground and know what you're up to.
I know it's edited for TV but by god, they could do with some management training
C

 

[lifes2short]

Yes, I imagine it's not exactly un-profitable if you're on good ground and know what you're up to.
I know it's edited for TV but by god, they could do with some management training
C

parker seems to have the magic touch or should I say the golden touch, he certainly knows if he's on good ground or not. although his man management skills isnt great, though is that just to spice things up for the viewers ?

 

[MrPea]

Yes, I imagine it's not exactly un-profitable if you're on good ground and know what you're up to.
I know it's edited for TV but by god, they could do with some management training
C

Aha, excellent plan... pay the airfare for my toddler godson to go over there and give them management training with him on commission on their consequential extra earnings.