To JISA or not to JISA? Your thoughts
If you maxed out a JISA (£9k) every year, it could feasibly be £400k when they turn 18. At 28, it could be over £1M.
I have been struck by the debates in the comments around JISAs; some thinking it is good financial education, and some feeling an 18 year old could not be responsible for that money.
What are people's opinions on JISA vs your own ISA?
My feeling is that I'd love to give any kids as much of a head start of possible, on their own terms, given how tough it is now, and will probably become.
I wouldn't care if 'living off inheritance' was their plan for finances and their plan for work was 'grow excellent daffodils'. It would seem more silly to deliberately withhold money so they can learn to force themselves through a corporate jobs which lacks meaning but pays well.
I can't understand how the absences of a head of start will teach them 'the value of money' or 'the value of hard work' - you can work incredibly hard and not earn a lot of money. If anything, engineering difficulty like this would teach them the _main_ value in life is to earn money; the goodness/worth/value of a person is measured in cash.
Ultimately I think about the conversations in r/FIREUK - what if they got a 20yr head start?
NB: This is unlikely to be possible for myself personally - just a thinking ahead.