Imagine if your parents or grandparents had opened a Pension for you when you were born and they placed £100 a month until you were 18, then you took it over and continued to pay the same amount until you were 67. Very simply, at 5% net growth (for example) your pension could be worth £650,000.
If your parents didn’t pay your contributions for the first 18 years, your pension would be worth £250,000. That’s the power of compounding!
The £21,000 worth of premiums your parents would have made in the first 18 years account for £400,000 worth of growth over the next 49 years!!
Please note that no inflationary cost is included in these figures and they are very generic in nature. Markets can go up then can go down, the above is a very best case scenario.
At Invinitive, we have a range of products available for minors; including our Junior Self Invested Personal Pension, our Junior Individual Savings account and our Junior General Investment Account.
A Lifetime ISA is an ISA with a difference – it’s to help you buy your first home or save for retirement
A stocks and shares ISA, invests in markets, so has the ‘potential’ for greater growth than cash accounts over the long term.
We offer both the LISA and the SSISA for your Children, getting them on the financial ladder quicker than normal.
The value of your investments and the income from them can go down as well as up, you may get back less than you invest. Tax treatment depends on individual circumstances and all tax rules may change in the future. None of the above information should be construed as a personal recommendation or advice. If you are unsure about the suitability of an investment or pension product you should speak to an authorised independent financial adviser.
Open your account through our automated application process and then fund your account with as much as you wish to deploy or set up a Direct Debit.
If you have an account with another provider you can transfer it to us. Open the respective account then provide us with the details of your existing accounts and we will take care of it from there.