Navigating Child Trust Funds at 18: What to Do with Your Windfall

AI Summary

The UK's Child Trust Fund scheme, launched in 2005, provides a significant windfall to young people at 18. However, many struggle with financial literacy and decision-making, leading to concerns about mismanaging their funds.

For those turning 18, options include partial withdrawals, transferring to an adult Isa, or taking out a lifetime Isa. Experts encourage young adults to consider their long-term financial goals and seek guidance to make the most of their CTF windfall.