Junior ISA: Avoid These 7 Mistakes!

Imagine 9000 growing at 8% average stock market return it could get up to £347,000 by the time your child turns 18 this is average now if you don't have a junior ISA you can think about whether it's the right option for your child. I know who want to start using it straight away. I've got some ideas around the junior ISA Mistake number seven paying lump sums instead of monthly contributions well I mean if you can pay lump sums that's great but the problem is that lump sums are harder to budget. You can miss the benefit of pound cost averaging. We had doctors, healthcare professionals I remember a GP shared in a session that they waited until the end of the taxi to contribute their ISA allowance but often couldn't save the full amount and it left them stressed and under invested. That's how I approach it. Automate your monthly contributions for consistency and take advantage of the market fluctuations. If the market is down you buy more. If.