Case study - Douglas McEwan

Douglas McEwan (73) from Clackmannanshire clearly knows about long-term investment if the amount of time he spends in the gym is anything to go by. Apart from his health he has also had the forward thinking to invest in the financial fitness of his grandchildren by taking out four child bonds from Scottish Friendly. Douglas is investing ten pounds a month in each of the child bonds.
	Douglas McEwan and 3 of his grandchildren

Douglas chose the child bonds for his grandchildren to make sure they start off on the right foot. Douglas said, "I had nothing when I started out in adult life and I care very much for all my grandchildren and wanted to make sure they had a little something to build on, perhaps to go towards education."
Since Douglas retired, if retired is the right word, he has been the Golf Course Ranger at his local club. As part of this job he walks 50 miles a week, up to 1,500 miles each year. But he didn't even have to take a stroll to find out about Scottish Friendly, as a leaflet landed on his doormat. "I had been thinking about a small investment for a while, since I retired and started work at the golf course I have more money to hand than ever before and wanted to do something for my grandchildren" Douglas commented.

Douglas continued: "Scottish Friendly are such a reliable company and it looked like an excellent idea so I decided to go ahead." The Scottish Friendly Child Bond can be taken out in a child's name and savers can invest between £10 and £25 each month, or a lump sum at the beginning of the plan, tax-free*. Investment growth and the final payout are tax-free, and because of the company's mutual status all the profits are distributed among the with-profits policyholders in the form of bonuses.

Further details on a Scottish Friendly Child Bond can be obtained by contacting Scottish Friendly on local rate 08456 00 54 33 or on this website.

IMPORTANT INFORMATION

*Tax free means free of Income and Capital Gains tax. On maturity, proceeds are free of tax.

Based on Scottish Friendly's understanding of current taxation, which may change.