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