Child investment Scheme

[Kudos]

Given the arrival of Kudos Jnr 5 weeks ago, I'm keen to set up some type of long term investment plan (20yrs or so). Plan is to invest money on a regular basis (monthly) with larger top ups. I'm happy for high risk, if it goes down the pan so be it.

I'm avoiding Child Trust Funds (although will set her one up with voucher) in case she turns into a mentalist in 18yrs time and spends all the money I've invested for her...

Any recommendations?

[russ_a]

I worried about that too,

If I had got 10k or so on my 18th I might not be here now!

[SGirl]

I opened a high-interest account for SBaby just after he was born. I can put up to £500 a month into it, and the funds are relatively flexible so I can take them back out if we need to. A bonus is paid every year on the anniversary of opening the account if there have been no withdrawals. (Which, of course, there aren't!)

I did look briefly at CTFs, and the government's contribution to a CTF has been duly banked and ignored. (Last year, it performed atrociously so they phoned to ask whether I'd like to deduct their charges from the capital or pay up myself.)

The big disadvantage of a CTF is that the child gets their mitts on the cash at the age of 16 (IIRC), whether or not they're mature enough for it. With the account I opened for SBaby, we act as trustees for it and he'll be given the cash when he's old enough and sensible enough not to waste it.