Yes I know Boo is not even four but there’s something about her starting ‘big school’ or reception to you and me that’s made me look ahead to her financial future. Boo already has a bank account that all her birthday and Christmas money goes into but what’s beyond just holding her money in an account?
Nutmeg offer a wide range of investments, from ISAs right through to pensions, which is a great place to start looking at getting the most out of Boo’s savings. Now we all know that with investment, your capital is at risk but I’d much rather use a company that is experienced at taking calculated risks with money than attempting to go it along cowboy style on the stock market – let’s just say I predict I’d be more mouse than wolf of wall street!
With an online management investment service, you can track your portfolio 24/7, and with no hidden fees it’s easy to see how your investments are performing. The management fees are set depending on how much you invest and I was surprised to learn that you can get started with as little as a £1000 fund and £50 deposit per month which is perfect if like me you’re looking to get the most out of Boo’s savings without risking it all. I’m also really impressed with the transparency of the potential return using Nutmeg; there are no get rich quick promises and the risks as well as the potential rewards are clearly shown in easy to understand illustrations.
Nutmeg also offers pensions as part of their financial services – whilst I may be a fair few years away from even early retirement it is definitely something that I’m aware of and want to make sure that when I reach retirement age I’m financially comfortable enough and not having to worry about money. With Nutmeg you are able to manage multiple investment pots covered with one management fee, plus the added bonus of being able to combine the government top up of 25% on regular net personal contributions. I like the idea of being in control of my pension and having online access to it’s performance.
Looks like I’ll avoid having to add part-time investor to my mummy skills and leave it to the professionals…Phew.
Disclosure: A fee was received for this post.
