I have two granddaughters who come to visit to get information about shares.
I gave all of the grandchildren 200 AFIC when they were 18, and another 200 when they were 21. Given they don’t have a lot to invest (all of them millennial’s), are there some LICS better than others for that age group? And would LICS be better for them than putting a small amount into one share? Their needs are very different to mine (I am 87 now so I am not a long-term investor).
A: I think the investment in AFIC is fine – will give then a broad based exposure to the market. Hopefully, it might spark an interest in the sharemarket in the medium term
I don’t think there are any better alternatives.
I hope they appreciate your generosity.
