Timeline for Advice for investing money for a 15-year old
Current License: CC BY-SA 4.0
11 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Mar 6 at 21:31 | comment | added | DreamingOfSleep | @Grade'Eh'Bacon Sorry, maybe I wasn't clear enough. The pension is mine, I just want to put it into an account for my young daughter for her future. I was thinking more about when she gets to the stage of wanting to set up her own home. It's me that's retired, not her! | |
| Mar 1 at 15:10 | comment | added | Grade 'Eh' Bacon | Is there a reason you anticipate saving these funds as a pension [implying, for retirement]? There are probably a few dozen financial goals that will happen before your daughter retires; things like saving for first car / rent down payment / college / house etc. etc.; I ask because saving for 50 years from now requires different strategies than saving for 2 years from now. | |
| Feb 29 at 14:05 | comment | added | DreamingOfSleep | @DJClayworth Thanks for pointing that out. No, I'm not trying to avoid tax here, I just want to give my daughter something to get her going in life. I leave the tax stuff to my accountant. | |
| Feb 29 at 5:10 | history | became hot network question | |||
| Feb 29 at 0:27 | comment | added | DJClayworth | I have to mention that if this is your pension you are about to receive, and you are hoping to avoid paying tax on it by transferring it to your daughter, that won't work. Pensions are your income and can't be transferred except in very exceptional circumstances. You can of course give your daughter the money after you have paid the tax on it. | |
| Feb 28 at 23:03 | comment | added | AakashM | in para 2 you mention a pension, is this the source of the funds you want to give to your daughter? | |
| Feb 28 at 22:51 | comment | added | DreamingOfSleep | @BenVoigt The £10K is a lump sum, separate from the monthly amount. Thanks | |
| Feb 28 at 22:45 | comment | added | Ben Voigt | Reality check: 330/month is 4000/year, which is 40% of the PV. It's much more likely that 10,000 will earn 330/year, not per month. Or is the "lump sum" a separate payment and unrelated to the monthly? | |
| Feb 28 at 21:53 | answer | added | Ganesh Sittampalam♦ | timeline score: 10 | |
| S Feb 28 at 21:04 | review | First questions | |||
| Feb 28 at 22:55 | |||||
| S Feb 28 at 21:04 | history | asked | DreamingOfSleep | CC BY-SA 4.0 |