CTFs what a nightmare!

[oumahexi]

As I understand it the government set up these trust funds to help children from lower income families get an equal start to life. An excellent idea. However, I wonder if the parents in these low income families are provided with any assistance in making the right investment choice for their little cherubs.

Having only ever seen brief snippets of advertisements or news reports many years ago, I had assumed that it was as simple as contacting the government with your childs details and they would issue you with a certificate for the investment amount - ie, end of story. Not quite, the certificate is for the parent to invest. The parent then needs to make the decision on whethere to invest in a simple savings account, shares or stakeholder shares. Easy enough decision back in 2002, not so easy now. Once you have made that decision, you then need to decide on exactly who to invest with! Hence, my role. I have been entrusted with the task of investing, not because of my astute financial prowess, but because I am the proud owner of a crystal ball, and in this economic climate, that appears to be the only way to make any type of investment decision...

I truly feel for Mr and Mrs Average dole lay-about (the ones who claim as a life style choice) how can they be expected to cope? I wonder if they will even bother. They won't benefit from it, they won't see the benefit - ever, and it takes a bit of effort. Shame, I don't think the majority of the people this idea was aimed at will benefit from it.

 

[Rich]

Yet another meaningless and pointless gesture by a meaningless and pointless government

 

[Fifty2One]

That is perplexing - obviously people who invest for a living are doing miserably at that task, so how would someone who has never been exposed to the greed machine ever have a chance to turn this scheme into any sort of a viable benefit?
Best investment would be to give people basic skills in personal economics and the values of basic needs. The scheme you have mentioned equates success with money rather than health security and wellbeing. The latter three can get you through times with or without excess finances.

 

[Thales750]

That is perplexing - obviously people who invest for a living are doing miserably at that task, so how would someone who has never been exposed to the greed machine ever have a chance to turn this scheme into any sort of a viable benefit?
Best investment would be to give people basic skills in personal economics and the values of basic needs. The scheme you have mentioned equates success with money rather than health security and wellbeing. The latter three can get you through times with or without excess finances.

Well said sir.

 

[JamesLast99]

At 18 the kid can spend it on whatever they want, so down the pub for a few quadvods!

 

[Alc]

Yet another meaningless and pointless gesture by a meaningless and pointless government

This whole idea should really have been avoided, especially given recent events on the stock exchanges.

If they give nothing out, people will moan about not receiving something for nothing.
If they give out money and let people choose what to invest in, people will moan about the fact that they don't know how to do it. This in spite of overwhelming evidence that most of the 'experts' clearly don't know, either.
If they give out certificates telling people that they now have shares in such-and-such, based on 'expert' opinions, people will moan about living in a 'nanny state' and how people should be able to make up their own minds, etc.

 

[oumahexi]

The scheme you have mentioned equates success with money rather than health security and wellbeing. The latter three can get you through times with or without excess finances.

I agree, but surely that should be the parents / family who teach these skills to a child? Oh, that's right, I forgot, we're living in the 21st century, where parents think it's someone else's responsibility to deal with their little darlings while they dope themselves up on amphetamines

OK, that's a generalisation, I know there are more good parents out there than bad.

This whole idea should really have been avoided, especially given recent events on the stock exchanges.

If they give nothing out, people will moan about not receiving something for nothing.
If they give out money and let people choose what to invest in, people will moan about the fact that they don't know how to do it. This in spite of overwhelming evidence that most of the 'experts' clearly don't know, either.
If they give out certificates telling people that they now have shares in such-and-such, based on 'expert' opinions, people will moan about living in a 'nanny state' and how people should be able to make up their own minds, etc.

I agree, we are a society who are never happy, no matter what the government do for us. My point was that a lot of the people who are given these investments for their children do not have the maturity or education to understand what the choices are!

By the way, I notice on their web site that one of the options is to invest with the Royal Bank of Scotland. I'm wondering if we'd get a good deal there? Are they not having a closing down sale?

Also, if you don't invest on your childs behalf, the government does go ahead and do it for you (small print), so no child will lose out.

 

[Alc]

Also, if you don't invest on your childs behalf, the government does go ahead and do it for you (small print), so no child will lose out.

I admire your faith, given the success they've had lately

 

[oumahexi]

I admire your faith, given the success they've had lately

LOL, at least I know my grandchild will not lose out. I set up his account after careful consultation with the cards; crystal ball and stars. Once I'd reached the short list I carefully placed the list on a dart board ...

 

[Alc]

LOL, at least I know my grandchild will not lose out. I set up his account after careful consultation with the cards; crystal ball and stars. Once I'd reached the short list I carefully placed the list on a dart board ...

I've set aside $30 for an axe handle.
Once I've decided which of my neighbours are doing the best, financially, I'll go on a funding mission.

 

[oumahexi]

I've set aside $30 for an axe handle.
Once I've decided which of my neighbours are doing the best, financially, I'll go on a funding mission.

Just the handle? That's inhumane! A decent, sharp head will be needed for a good clean job!

Damn, I really must stop watching Dexter

 

[Fifty2One]

Financially you can set up a child easily with only putting away one $ or £ or € a day. By the time they are 3 years old you will have over $1000 or £1000 or €1000 which is sizable enough to be put into stable lower interest term deposits. By the time they are of college age they will have quite a fair sized endowment. $1 or £1 or €1 a day is probably a lot less then most people spend on coffee or tea etc and would not break the bank.
Moreover it is important to educate children to become respectful of themselves and allow them every social possibility in order to grow from the inside out. Self worth often externalizes.