My son who is 7 has 12,000, I was going to do a buy to let property for him, get a mortgage in my name but I was not going to give him the property til he was at least older than 25 maybe even 30 (he will not know about the property).......
I am giving him the money out of some inheritance I have received
Is this a good idea, also I have 58,000 i wanna invest in property is it better to put into a couple of properties here or abroad???????
2007-03-17 07:20:09 · 3 answers · asked by xXx Orange Breezer xXx 5 in Business & Finance ➔ Renting & Real Estate
Bad time for real estate investing.
A better idea is to put it into one of the new guaranteed return mutual funds. These have almost the safety of a CD, but a higher return rate.
Or put it into one of the new college tuition investment programs which will have no income tax on the interest as long as the money goes to the child's college education.
2007-03-17 07:29:29 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Buy and let is today fashionable but does it last, your son has a long way to go. 58+12K what you can buy in the UK, I believe you should put half in a long term high interest account for the young man, the rest please yourself.
2007-03-19 04:47:20 · answer #2 · answered by van n 3 · 0⤊ 0⤋
I suggest a savings account with high intrest for some of it, so he can have enough for college.
2007-03-17 07:22:47 · answer #3 · answered by Anonymous · 0⤊ 0⤋