What is the best savings account for long term investment for my grandchild?

If the child is eligible for a CTF or a Junior ISA, I suggest looking into it. A pension can also be a good investment

Parents could make their baby an adult millionaire by starting a pension pot when they are born. While it may be hard to imagine your children reaching retirement, by contributing just ?88 per month to a child self invested pension plan (SIPP) until the age of 18, the fund should easily top ?1 million by the time they reach 65.

This was the suggestion by all financial experts after the Child Trust Funds were abolished in 2010. Now you may not want to commit ?88pm but it is the principal that counts. ?10 pm would be a great start even ?1 pm until 18 yrs say when you could expect the child to take ownership of the payments would be a tremendous start to a pension which will be even more important in another 60 years. Nobody wants to live in poverty in old age. But kids even up to and beyond 30 don't really prioritise a pension find.

Give it serious thought is my advice.

by me, 35 minutes ago
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