Iain from @IainJGeddes joins me on this episode of the podcast to talk about investing for your children.

If you don’t currently have children, this is useful future information. Even if you don’t want children, you can hopefully pass on this knowledge to friend's children, nephews and nieces.

We have three main options: Junior Stocks & Shares ISA, Junior SIPP, or using part of your own adult Stocks & Shares ISA allowance.

Each option has different pros and cons.

The key with the two ‘Junior’ options is that the money legally becomes your child’s at 18 (Junior Stocks & Shares ISA) or at 55 (Junior SIPP).

If you’re skeptical they may misuse the money, or you just want more control, you can use part of your own adult ISA allowance - assuming you have some left - to invest for your children.

The greatest asset that children have is time. Due to compound interest, even small amounts contributed today have the chance to grow for decades to come.

Listen to the full episode for all the details!

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In this video I go through everything that you need to know about investing and taxes in the UK.

This includes the 3 main vehicles we can use to invest in the UK - ISAs, pensions and general investment accounts.

And the 3 main 'phases' of investing - before investing, during investing (i.e when we are invested in something) and when withdrawing.

Ultimately, ISAs and pensions have great tax advantages. So if possible, make the most of these.

But, GIAs do have their place in specific situations. Not to mention that for some types of investments (e.g crypto) we can only use GIAs to invest.

Just be aware that with GIAs we may be liable to pay capital gains tax and/or dividends tax.

Capital gains tax arises when we sell, and the allowance is currently £3,000 per tax year.

Dividend tax arises when we earn dividends and this happens when we're investing as most funds pay dividends, and the allowance is currently £500 per tax year.

Listen to the full episode for all the details!

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It's no secret that I am a fan of global funds.

I am largely just a global index fund investor.

Why? Because it keeps my approach as simple and as diverse as possible.

Across my various investing accounts, and there are a lot of them (as we go through in the podcast), I usually solely invest into the lowest cost, most globally diversified fund I can find.

And I recently passed a huge milestone. After 7 years of investing, I now have £100,000+ in global funds.

So in the podcast episode, we go through the exact global funds I am investing into. Including what they're called, how many stocks they hold, what fees they charge, and more.

Listen to the full episode for all the details!

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📖 Stop Waiting, Start Investing Ebook - https://payhip.com/b/Q40kP

💻 Need somewhere to track all of your investments in one place? https://payhip.com/b/9tB2

📊 Income, Expenses, Saving & Investing Tracker - ⁠⁠⁠⁠https://payhip.com/b/SIaGz ⁠⁠⁠⁠

📈 How to start investing workshop - https://payhip.com/b/1fic

📰 Newsletter - ⁠⁠https://makingmoneysimple.mykajabi.com/Newsletter

🎥 Youtube - https://www.youtube.com/c/MakingMoneySimple/

📸 Instagram - https://www.instagram.com/makingmoneysimple/

🐦 Twitter - https://twitter.com/makingmsimple