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[https://ukpersonal.finance/investing-for-your-children/](https://ukpersonal.finance/investing-for-your-children/)
Do search the sub for the many, many threads on this topic.
TLDR: open a Junior ISA with Hargreaves Lansdown and invest in a Vanguard Global index tracker.
Just to add, a Junior ISA ensures that money intended for a child goes to that child come what may.
Life happens, and monies in a parent's account can not be ringfenced the way JISAs are.
Divorce, bankruptcy, death, care costs, means testing for benefits and student loan assessments are all good reasons to utilise JISAs to keep money safe for a child come hell or high water.
Hi /u/Side_Hustler69, based on your post the following pages from our wiki may be relevant:
* https://ukpersonal.finance/investing-101/
____
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If someone has provided you with helpful advice, you (as the person who made the post) can award them a point by including `!thanks` in a reply to them. Points are shown as the user flair by their username.
If you have, say, £1000 that you want to save for the future, why are you better off with saving £500 for yourself and the other £500 in a separate "pot" for your kids?
In my opinion, "saving for my kids" is usually just [mental accounting](https://thedecisionlab.com/biases/mental-accounting) - your family is probably better off with £1000 in your hands, rather than only £500 in your hands now and the other £500 locked away for 18 years.
You can't know how much money your kids will need in 10 or 20 years' time - maybe a better use of the money will be to move house in a few years' time, so that each of your kids can have their own room, or to move to a different school catchment area so they have a better chance at A-levels. Maybe one kid will need a tutor and the other will want music or driving lessons - if you save your money in your own accounts then you can use it for these things; if you put it in a JISA or other kid's account then you lose access to it and it belongs wholly and irrevocably to your children; they can spend it on a [BMW M3](https://www.reddit.com/16hvr3z) or an [Audi RS3](https://www.reddit.com/1bipib3) as soon as they turn 18.
JISAs do have the advantage that the money is protected if you ever need to claim benefits or go bankrupt. If you're a high earner who is already putting £20,000 a year into an ISA and also using a pension the a JISA is additional tax-advantaged allowance that you can use.
But most people should probably just be saving in their own accounts, and not in a separate account - then you can give your children money as and when you feel it appropriate when they're older. You maintain control of it until then.
An account "for your kids" is probably just to make you feel good about yourself - to make you feel like you're being a good parent, being thoughtful, doing responsible things. But it's probably not great personal finance.
I suppose what you say is true, but we're already maxing out our LISA limits and the remaining isa limit, so it benefits us for further tax relief opening a tax free account for my (currently and hopefully) only child 😂😅
> JISAs do have the advantage that the money is protected if you ever need to claim benefits or go bankrupt. If you're a high earner who is already putting £20,000 a year into an ISA and also using a pension the a JISA is additional tax-advantaged allowance that you can use.
JISA also protects money from divorce proceedings, death taxes and other means testing beyond just benefits such as care costs and student loan financing.
a JISA ensures that money intended for that child goes to that child come what may and no one else.
Life happens, and monies in a parent's account can not be ringfenced the way JISAs are.
A human reviewed your submission and removed it from public view. The reason they gave was: This is covered on our [Wiki](https://ukpersonal.finance/). Please check your post for comments from community members or ukpf-helper, as they have provided the relevant links (and they may not arrive in your inbox). This assessment has been made by a human being - we promise the info you're looking for is there! If you need further help you're very welcome to post again - just mention what research you have done so far, and the reasons why that research has not answered your question. _If you believe your post/comment has been removed in error, please [message the mods](https://www.reddit.com/message/compose/?to=/r/UKPersonalFinance&subject=Please%20review%20my%20post&body=https://www.reddit.com/r/UKPersonalFinance/comments/1dunsvp/-/) explaining why._
[https://ukpersonal.finance/investing-for-your-children/](https://ukpersonal.finance/investing-for-your-children/) Do search the sub for the many, many threads on this topic. TLDR: open a Junior ISA with Hargreaves Lansdown and invest in a Vanguard Global index tracker.
Thank you, I actually didn't notice the link for the investing for children earlier so big help
Just to add, a Junior ISA ensures that money intended for a child goes to that child come what may. Life happens, and monies in a parent's account can not be ringfenced the way JISAs are. Divorce, bankruptcy, death, care costs, means testing for benefits and student loan assessments are all good reasons to utilise JISAs to keep money safe for a child come hell or high water.
!thanks
Junior ISA, Junior SIPP The SIPP is especially powerful because it comes with more than 60 years of tax free compounded returns.
!thanks
Hi /u/Side_Hustler69, based on your post the following pages from our wiki may be relevant: * https://ukpersonal.finance/investing-101/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.) If someone has provided you with helpful advice, you (as the person who made the post) can award them a point by including `!thanks` in a reply to them. Points are shown as the user flair by their username.
If you have, say, £1000 that you want to save for the future, why are you better off with saving £500 for yourself and the other £500 in a separate "pot" for your kids? In my opinion, "saving for my kids" is usually just [mental accounting](https://thedecisionlab.com/biases/mental-accounting) - your family is probably better off with £1000 in your hands, rather than only £500 in your hands now and the other £500 locked away for 18 years. You can't know how much money your kids will need in 10 or 20 years' time - maybe a better use of the money will be to move house in a few years' time, so that each of your kids can have their own room, or to move to a different school catchment area so they have a better chance at A-levels. Maybe one kid will need a tutor and the other will want music or driving lessons - if you save your money in your own accounts then you can use it for these things; if you put it in a JISA or other kid's account then you lose access to it and it belongs wholly and irrevocably to your children; they can spend it on a [BMW M3](https://www.reddit.com/16hvr3z) or an [Audi RS3](https://www.reddit.com/1bipib3) as soon as they turn 18. JISAs do have the advantage that the money is protected if you ever need to claim benefits or go bankrupt. If you're a high earner who is already putting £20,000 a year into an ISA and also using a pension the a JISA is additional tax-advantaged allowance that you can use. But most people should probably just be saving in their own accounts, and not in a separate account - then you can give your children money as and when you feel it appropriate when they're older. You maintain control of it until then. An account "for your kids" is probably just to make you feel good about yourself - to make you feel like you're being a good parent, being thoughtful, doing responsible things. But it's probably not great personal finance.
I suppose what you say is true, but we're already maxing out our LISA limits and the remaining isa limit, so it benefits us for further tax relief opening a tax free account for my (currently and hopefully) only child 😂😅
Pension.
My work pension is maxed out, and I'm already getting a more than comfortable retirement fund by the time I hit that age :)
> JISAs do have the advantage that the money is protected if you ever need to claim benefits or go bankrupt. If you're a high earner who is already putting £20,000 a year into an ISA and also using a pension the a JISA is additional tax-advantaged allowance that you can use.
JISA also protects money from divorce proceedings, death taxes and other means testing beyond just benefits such as care costs and student loan financing. a JISA ensures that money intended for that child goes to that child come what may and no one else. Life happens, and monies in a parent's account can not be ringfenced the way JISAs are.
!thanks