Lump Sum Investment For 17 Year Old

[kelfoan]

My 17 year old son has £ 25 k lump sum to invest. He tried opening a fixed rate bond online at 2.15% but was told he had to be 18 or over. I don't want him to have to wait 6 months until he is 18 to invest it. What is the alternative where he could invest at aged 17 and receive receive a similar return ?

[Old_Geezer]

Can't you invest it for him ?

[dannyk13]

Why don't you invest it and then transfer it to his account.

[DarceyK123]

Premium Bonds? Not guaranteed return but good chance of winning something each month.

I have £50 and win something most months.

[DarceyK123]

I meant 50K ^^

[nannakath]

Have you considered an ISA? £20.000 allowed per year now. This can be part cash and investment mix. The best thing is to obtain financial advice.

[alavahalf]

When you say invest .. I think you actually mean save .. if you are expecting a guaranteed return, you wont get it from an investment.
If you save the lump sum you will get some sort of guaranreed return.
All investments will come with a warning saying 'You
may not get all of the money you initialy invested'.
Personally I think he has time on his side and the longer you leave an investment the better it is likely to do. There are plenty low risk/growth investments that will blow the socks off any savings a/c.
Have a look at http://www.hl.co.uk .. this will give you plenty food for thought. But with current cash isa rates so low you will barely beat inflation im most High St a/cs.

The greater the risk the greater the reward ... or loss !