Stock market investing is unlikely to rank top of most 16-year-olds' lists of favourite hobbies but the early bird catches the worm, so it could be well worth kicking things off early like one of our young readers aged 16. Jake has already been investing for a year and has built up a portfolio of funds within his Junior individual savings account (Isa) and self-invested personal pension (Sipp), and now wants to know how he can improve on his asset allocation and portfolio strategy to build up a healthy retirement pot.
Sipp, Isa or both?
When investing the first step is to decide what wrappers to hold your investments in. You or your child might know which investments you want to the money into but remember that at 16 or younger the level of control you have over your investments and the age you can access them differs depending on the account.