05 Dec 2019
With the festive season fast approaching, there is always the hassle of what gifts to buy your children or nieces and nephews for Christmas.
We tend to go for the usual toys and electronic gadgets, but these are often discarded after a few months of use.
If you want to give them something that lasts, then an investment is a good option. It will accumulate over the years and give them a jump start when they are adults. (this won’t however get you off the hook for buying regular Christmas gifts)
• If you invested a once off £1 000 lump sum at their birth with an average investment company, then it would be worth around £5 600 when they turn 18.
• Or if a once off is a bit rich for you blood, £50 a month till they turn 18 would have turned your £10 600 in contributions into around £31 800. (Thisismoney.co.uk for Dailymail.co.uk)
The children won’t necessarily appreciate a gift they can’t unwrap or play with, but they will appreciate it in the future when they are adults.
The investment could be used towards
• University tuition
• Deposit for first time home
• Gap year trip
• Buying a first car
Instead of saving in a regular savings account that doesn’t have very favourable interest rates, you could consider deVere Catalyst. A low-cost savings app that allows you to invest in world class dVAM funds. There is no term period connected to it and you can invest whenever you have funds available.
Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere Acuma adviser for a personal consultation.
* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.