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Grandad has decided he wants to give ?3,000 to each of his 4 grandchildren - but that he does not want them to spend it - but save it- they are all over 18. ( one grandson has probably spent his last windfall on a motorbike and grandad is not impressed). He thinks it is for when they buy a property or get married so we are talking 6-10 years at least.

Any ideas where to put it? Cash Isa's are a bit too accessible- and really they lose money don't they? This may not seem much money to some people but to him it is a very big deal so any positive contributions welcome.

I know there are some people who keep an eye on this, and my idea of buying premium bonds did go go down very well.

Thank you all in advance .

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It might be fun to set up a family share club. In other words, pool the money, pick some shares (blindly sticking a pin into a table works, although finding out about share valuation would be interesting) and then make sales and future purchases a collective decision. There are various cheap, execution-only share dealing services out there.


There is, of course, the risk of losing money. But, since they are young, it's a good time to learn from mistakes.

That might work for some, but i'm afraid the family includes 2 at university and are spread around the country so there will be little discussion and tbh there is little appetite for any active management . But I think maybe I will think about that for the future. Any more ideas?
I think you should get an isa that locks up your savings for X amount of years, they are not all easily accessed. Best to go for one that is locked for say, 2 years then you can move it to another rather than having it tied up for as long as 5 years when things may change and you could end up losing out.

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