Best ISA for my boy

[Lou_smorals]

Hi
Its my youngest lads 21st coming up and he wants to invest his money to help with later house purchase, I want to invest £500 for him for his birthday and he wants to continue with a monthly direct debit from his wages. He is happy for it to be fixed for two years but after that would prefer it be flexible.
can anybody point me towards some nice deals?
cheers
LS

[evilsatan]

Moneysavingexpert is the place to look for this mate. Most the rates are very low, worth considering a stocks and shares isa if you are careful which stock you pick. There are low risk stocks that have dividends above the interest rates of cash isas but be very careful which ones you choose as you can lose money if the share price falls.

[CallmeGoose]

Bloody hell. Got yourself a good kid there, at that age if I had £500 I would have pissed it up against a wall.

Smart lad


Sent from my iPad using Tapatalk HD

[dhope]

Would agree to go with a stocks and shares ISA instead of just cash. Likely they'll outperform cash over a number of years.
Wouldn't suggest he picks the stocks himself though, maybe easier to pick something like an exchange traded fund (ETF) that tracks a set of stocks.
(have a glance at https://www.youtube.com/watch?v=FM6KnD75QrE)



Disclaimer: I have no clue what I'm talking about