1 of 1 people found the following review helpful:
5.0 out of 5 stars
BABY BOON!, 28 May 2003
This review is from: Money: Your Child, Their Future (Paperback)
This is the book I've been waiting for. You have no idea how many financial magazines I've invested in (or should that be completely wasted money on?!), or how many times I've trawled dazedly through a myriad of dead-end links on search engines, just to try and find out about saving and investing for children (and goodness knows how many hours worth of phone charges I chalked up with the same).
This is it, halleluljah! The answer to your prayers, well, maybe not quite, but it will certainly answer a lot of questions about the different ways of investing - and not only for children, a lot of the material applies to adults as well. Another benefit with this book is that everything is so concise. Some people may think that one or two paragraphs on gilts or bonds etc is not enough to scratch the surface, but for me it is a no-nonsense approach that tells me everything I need to know without being bogged down by intimidating jargon. (Hark at me, gilts and bonds, like I'd have known that they were investment options and not medieval restraints prior to reading this book!)
The book covers normal savings accounts for children, baby bonds, unit trusts - and virtually everything imagineable for adults, with advice given on holding shares/bonds etc in a child's name or as intended inheritance for them. There is also practical advice given on tax implications for parent and child, as well as really useful tips on making the most of tax allowances and how to avoid hefty charges. Did you know that you can now set up pensions for your baby?! There are also a few useful internet links for further information on some of the options available.
I take this book everywhere with me at the moment, it's been read and re-read so many times that it's starting to look like an antique (another option discussed in the book!), and being such a handy size I can just pop it in my handbag! It will cost you only slightly more than a vague and daunting financial publication geared towards city slickers, with proceeds going to a very worthwhile cause - do yourself a favour, never mind that extra beanie bear, buy your child this book and start investing in their future now.
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