Junior ISAs – Invest in your child’s future, totally tax free
Investing for a child is a brilliant way to give them the best start to adult life, helping them to follow their dreams whether it be helping towards university, a deposit on their first home, or exploring the globe.
It’s never too early to start, and one of the best ways is with a Junior ISA (JISA). Even a small amount saved each year can snowball into a sizeable nest egg over the long-term if invested correctly.
Here at HG Financial Planning we offer a number of ethical investment options allowing our client’s to grow their child’s savings whilst helping to protect the future of their planet and society.
How do JISA’s work?
JISAs can be opened for children under 18 years old and can be contributed to by anyone once opened including friends, grandparents etc.
Once the child turns 18 the JISA will automatically become an adult ISA staying invested and retaining its tax free status unlike child trust funds and other types of child investments.
Why are JISA’s so great?
- All growth unencumbered by tax, boosting the potential returns.
- Anyone is able to contribute up to a total of £9,000 per tax year towards your child’s future
- Money safely locked away as withdrawals not available generally until they’re 18
- Automatically becomes an adult ISA at age 18, preserving tax free status of all funds built up
- Tax free withdrawals after 18 regardless of the amount built up (if you are able to contribute the maximum for 18 years this is a potential circa £162,000 that can be withdrawn completely tax free)
- The average growth of over 9% pa after all fees for HG Financial Planning’s Balanced (medium risk) portfolio
However please note that of course there are no guarantees as investments fluctuate in value.
Get in touch to invest for your child’s future today
We are committed to honest, clear and personal advice which we believe is more valuable than ever in these challenging times. That is why throughout lockdown we are providing free consultations either in person, over the phone or via Zoom, no strings attached.