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Child Trust Fund - is it worth investing right now?

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Amanda
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Child Trust Fund - is it worth investing right now?

Postby Amanda » Thu Jan 29, 2009 10:12 pm

We still haven't done anything with Finn's and I don't even know if it's worth doing anything right now. After management fees Connor's is worth slightly less than the initial investment, and that's having been invested for the last two years, before everything went (.)(.) up! We invested in an ethical stakeholder fund for Connor and would do the same for Finn, but I'm not sure I want our £250 to become £0!! Suppose the bit of paper is worth £0 so might as well pay it in somewhere :roll:

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Frances
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Re: Child Trust Fund - is it worth investing right now?

Postby Frances » Thu Jan 29, 2009 10:14 pm

I've been thinking the same - I think I'm just going to stick it in a bank account for now (if the vouchers can just be paid into bank/savings accounts)

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Velvetsteph
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Re: Child Trust Fund - is it worth investing right now?

Postby Velvetsteph » Thu Jan 29, 2009 10:15 pm

If you don't invest it somewhere of your choice they invest it for you :?

I think they *have* to go into a child trust fund...

somewhere like the co-op should have an ethical one...

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babyroo
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Re: Child Trust Fund - is it worth investing right now?

Postby babyroo » Thu Jan 29, 2009 10:16 pm

I have put ours into cash accounts with Britannia as I didn't want to take the investment risk so they are just earning a bit of interest instead. Lots of the banks/building societies have cash accounts as an option too so that might be worth considering.

ETA I mean special child trust fund cash accounts, they can't go into a normal account

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hanstar
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Re: Child Trust Fund - is it worth investing right now?

Postby hanstar » Thu Jan 29, 2009 11:05 pm

i wish i'd invested more wisely....thinking i was doing the right thing i put my sons £250 ctf into an ethical shares type account, plus i was topping it up with £15 a month but i rang them a month ago to see how it was doing and it had already gone down to £170 so it'd lost £80 plus the £80 id paid in myself (i stopped my direct debit straight away and have opened a savings account to put some money into instead).
im hoping it will go back up but it makes you wonder :?

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Amanda
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Re: Child Trust Fund - is it worth investing right now?

Postby Amanda » Thu Jan 29, 2009 11:19 pm

hanstar wrote:i wish i'd invested more wisely....thinking i was doing the right thing i put my sons £250 ctf into an ethical shares type account, plus i was topping it up with £15 a month but i rang them a month ago to see how it was doing and it had already gone down to £170 so it'd lost £80 plus the £80 id paid in myself (i stopped my direct debit straight away and have opened a savings account to put some money into instead).
im hoping it will go back up but it makes you wonder :?


Connor's is an ethical account and we also pay in £20 and it really isn't doing well at all. I know two years is only a short period of time in the whole stock/shares scenario, but it's not encouraging :(

babyroo wrote:I have put ours into cash accounts with Britannia as I didn't want to take the investment risk so they are just earning a bit of interest instead. Lots of the banks/building societies have cash accounts as an option too so that might be worth considering.

ETA I mean special child trust fund cash accounts, they can't go into a normal account


Am I right that you can't switch? Once it's in a standard savings scheme you can't then take it out and put it into a different one in the future...

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babyroo
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Re: Child Trust Fund - is it worth investing right now?

Postby babyroo » Thu Jan 29, 2009 11:29 pm

I don't know about switching :? :? It would seem a bit unfair if you can't change it.

I've just had a quick search and it sounds like you can change it to a turst fund with another bank. I guess like you can transfer iSA's to different providers

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Annette
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Re: Child Trust Fund - is it worth investing right now?

Postby Annette » Fri Jan 30, 2009 9:42 am

We put both of ours in a cash account at the Nationwide - it might not be growing very much but it isn't going down.

The thing to remember though is that it is a long term investment - as with all shares, they go up and down but in the long term they always go up if it is invested across a few (if you look at a trend line of the FTSE 100 then it is generally an upward trend), so you just have to stick with it. We will probably only be in this economic mess for a couple of years and then things will start to improve again.

I don't know about switching them.

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Mareth
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Re: Child Trust Fund - is it worth investing right now?

Postby Mareth » Fri Jan 30, 2009 9:49 am

If you're investing into shares there might be no better time to invest. Whatever your money can buy now would hopefully increase madly once things start to improve.

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