Junior ISA: The Good, the Bad, and the Wealthy!

Now let's look at the pros and cons One of the benefits obviously is tax free growth all the returns whether dividends or capital growth savings investment returns are entirely tax free that's quite huge two there's a generous allowance so if you have one child you can have a £9,000 allowance even if you have two children you can have like an extra £9,000 so if you imagine a family of four that's a whole £58,000 ISA allowance for you and if you don't understand that check my other videos on ISA adults have like ISA allowance of 20,000 each obviously there are a few cons is locked until 18 you can't access the money until they turn 18 neither can they and second thing that people worry about is you have no control Once they turn 18 the money is entirely theirs whether they decide to save it or splurge it on a brand new Ferrari is up to them they might throw a huge party whatever it is so but a few examples to understand this.