We are in the process of selling a property and I would like to invest some money for my children to give them at a time I feel is appropriate, maybe once student loans become due, they are buying a home, etc.
Oldest is 20 and in her second year of university, she has no student loans yet, it is all bursary, scholarships, family contributions and savings from her summer job. Middle is 16 and in high school, likely to attend university, works part time. Youngest is 10, in elementary school and currently wants to be an electrician, but that will likely change, also has a learning disability and does not like school so unlikely to pursue a university degree.
I am looking for the best return for this money so any suggestions on where to invest it would be great. I am also uncertain if I should invest it in a lump sum, then when first child gets hers give her 1/3 of the current value, second child would then get 1/2 of the value at her appropriate time and youngest would get what is left at the end. Or should I invest in 3 separate accounts? I say that they are not likely to fight over who got how much knowing that it was all invested at the same time even though when oldest gets hers it is less likely to have grown as much as when youngest gets his.
Any suggestions on how to do this?
