Saving money for children and grandchildren is a priority for many families, and starting early could give them a big nest egg by the time they turn 18 — particularly if you steer clear of cash accounts.
Investing can be daunting because there is no guarantee how much the money will grow. There is even a chance that its value may go down at some point if there is a downturn in stock markets.
But history shows that in the long run you are likely to get better returns by investing rather than using a cash savings account. Investing can be particularly beneficial for children’s savings because there are likely to be many years for the capital to grow and reinvested income to accumulate.
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