How to invest and save for your child to give them a bumper pot of cash when they turn 18

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 7 December 2018

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

It might not be on the top of your to-do list when you have a child, but investing and saving for them to build a tidy nest egg for when they reach adulthood is best done sooner rather than later.

In the latest This is Money podcast, editor Simon Lambert, assistant editor (and new parent) Lee Boyce alongside host Georgie Frost look at the best ways to save for your children.

We discuss investment options, Junior Isas, a pension and other ways, and why 'the hardest step is the first, but it is also the most powerful'.

Lee has a target of a £50,000 pot to build up for his new daughter ahead of her 18th birthday in 2036 – and discusses how he plans to achieve this, with a little help from Einstein's eighth wonder of the world, compounding.

Elsewhere, we talk about how invest for your own retirement and Fidelity's 'Power of Seven' matrix, as it looks like the pensions dashboard is finally moving ahead.

We talk about the collapse of online estate agent Emoov and the future of the industry with the Bank of England's latest Brexit predictions suggesting property values could fall 30 per cent in the worst case scenario.

Finally, we reveal the latest British Gas rip off and whether could we have found the answer to expensive boiler replacements.

Transcript

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0:00.0	Welcome to This Is Money podcast in partnership with NS&I. I'm your host, Georgie Frost,
0:07.8	and alongside editor Simon Lambert and I today is Consumer Affairs Editor and New Dad, Lee Boyce.
0:15.3	Congratulations to Lee. It seems rather at then today. We look at saving for the future for our kids, obviously,
0:22.7	and plus our own retirement. How much do you need to squirrel away for a golden retirement?
0:27.6	Is it achievable for most of us? And will the government's pension dashboard plan really help?
0:33.7	Also today with the collapse of EMOVE, what now for the future of online estate agents?
0:39.3	We look at the stalling property market and ask whether the Bank of England's latest Brexit warning
0:44.3	have a 30% drop in house prices is likely.
0:48.3	Plus, the latest British gas rip-off and could we have found the answer to expensive boiler replacements?
0:54.6	All that and plenty more coming up.
0:56.0	Don't forget, you can stay up to date with all the latest breaking money news.
0:59.1	Just go to this ismoney.com.uk or download the app.
1:03.2	This is Money.
1:04.4	Brought to you in partnership with NS&I premium bonds.
1:08.5	Creating millions of reasons to celebrate every month.
1:12.1	Right first, congratulations Lee Boyce on the arrival of your little one. Name please?
1:18.0	Brooke. Well, welcome to the world, little Brooke. Now, Baby Boyce is rather fortunate to have
1:24.1	an editor on a money website for a dad when it comes to her financial future.
1:29.1	But not every child is so lucky.
1:31.5	So let's share some of that advice.
1:32.8	And of course, if anyone has any parenting advice for Lee, please do feel free to pass that on over.
1:37.4	Yes, Lee?
	...

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