after seeing my father in law having to shelf early retirement plans due to his son’s plans to study abroad (£10k required for fees/living) we’re looking at setting up a long term investment for babyOath. What’s the best way to go? Junior ISA? Cash or Stocks/shares? Or anything else? Any advice greatly recieved. i]
tbh If £10k has scuppered his retirement plans, it ain’t much of a plan…
Best investment plan is to ensure you don’t have any debt so you are able to help out your kids when they need it. So concentrate on paying off stuff and/or not buying stuff you don’t need.
For example, my son lost his job at Christmas (company made chemicals for the oil industry) and we’ve paid his rent for him while he as out-of-work (now back working). I know he’ll pay it back, but it stops him getting into debt with someone else.