S&S Isa 'offers good return for family savers'

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S&S Isa 'offers good return for family savers'

Families looking to put money aside for their children's future have been advised that one of the best savings vehicles at present for this purpose could be the stocks and shares individual savings account (S&S Isa).

Darius McDermott, managing director of Chelsea Financial Services, told listeners to the FT Money Show podcast that cash is often a positive asset class for investors, but with the present high levels of inflation, taking a longer term choice to invest in S&S Isas may be better.

He commented: "While they are much more volatile, given the length of time that you have for investing, it is sensible to take on board that extra level of risk."

Mr McDermott added that given the length of time that people have - 18 years if they take out the account when their child is born - the risks of loss are actually quite small.

Christine Ross, head of financial planning at SG Hambros, recently told listeners to the BBC Money Box podcast many families are finding it hard to save at the moment as a result of the ongoing economic turmoil and the squeezing of many household budgets.

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