Savings for children: Junior ISAs could create 'millionaires' in the future

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He explained that changes to the Junior ISAs should make it a more attractive form of savings for parents.

“Even if people start with putting in £5 a month it will all amount up over time”, he said.

Calculations by Junior ISA provider AJ Bell suggest parents putting away the full £9,000 a year into a Junior ISA investing in stocks and shares which yielded average returns of 5 percent could potentially have £265,000 by their 18th birthday.

But even if families don’t have this much to invest, the benefit of Junior ISA investing are still attractive.



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