# Children's pensions?



## LeadFarmer (Feb 23, 2011)

Just about to set up a pension for my 9yr old son with Hargreaves Lansdown, payable when he's 55. 

I fear the state pension age will be well above 70 by the time he's of pensionable age, and that's if there's still a state pension at all. 

Anyone else set up a pension for their child?


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## gpf1973 (Dec 3, 2015)

I've got one each for my 9 and 11 year old with Virgin. Gone for the highest risk portfolio as got plenty of time to weather financial storms. Also got them a junior ISA each with Best Invest, again in high risk / high growth accounts. Putting £50 in each account a month so not massive amounts but something for the shorter and longer term. With the ISAs I also transferred their CTF to start them off, which gave a useful boost. 

Sent from my SM-N910F using Tapatalk


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## Caledoniandream (Oct 9, 2009)

I am not a big lover of pensions, and neither do I understand really how to get the best out of it.
But would you be better to invest yourself into property (buy for rent) to get a more stable balance? 
It would help him to get on the property ladder, what probably will be neigh on impossible by the time he/she I s 25.

An old college of mine worked his whole life for his pension, safed every penny, didn't enjoy life, because every penny was for his pension, sadly he passed away before he even could touch it.

When my parents passed away, there was some property, and some money left.
However as we had a lot of children, when I left home there was no possibility to free money up, to let us make an easier step up to the property market, as they still needed the money.
By the time they passed away, we where all settled down, had good jobs and did not need the money of the inheritance at all.
When I was 25, I was screaming for some money, just to get a house, when I was 35, I wished they had used all the inheritance to enjoy theirselves, and hadn't left us a penny. 

Just 2 examples from life, and just trying to say, with all the best intentions, your child could be wealthy by the time it can touch your money where you worked your **** of for, and has no need at all for it.

The other thing, if I see how much money people have lost in pension funds, due to change in regulations by the regulator, it would worry me to put any money at all in it. (My Dutch pension is probably only worth a third of what I contributed)


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## Mowbs (Nov 2, 2015)

I totally agree with what Caledoniandream says, you just don't know what the money you invest today will do for him in the future and I completely agree with what he says about helping him get a property that will benefit him his whole adult life rather than an income when he's old. 

My granny was (is) a miser all her days, they had a bit of cash back in their day but couldn't part with a penny, never went on holidays never bought a car etc. She's now hit the ripe old age of 100 and is in a home that is rapidly taking all the money she scrimped all her life to save and she hates that. It's certainly taught me a lesson in life. 

There is a stage in life when a little bit of cash could do so much for you and usually by the time you get older it's not so life changing. 

Also remember he could marry and divorce and half of that money you're putting away for him could go to some gold digga!


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## Obsessed Merc (Apr 10, 2011)

I set up pensions for my two when they were 2yrs old.
Quite a decent pot already in 11yrs.

In my head, they won't need to scrimp/save putting a lot of money away into a pension - because I've given them a good kickstart.

However, I have also covered the property side off as well.

I'm fairly sure, that whatever you do for them, they will be pretty pleased


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## sshooie (May 15, 2007)

I stopped paying into a pension years ago and started putting the money into property instead. They can divvi those up when I kack it.


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## LeadFarmer (Feb 23, 2011)

My son should be covered as far at getting on the property ladder goes. 

Ive managed to plan my retirement well before state pension age and id like to help do the same for my son.


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