Stocks n Shares ISA



Boris Bear said:
I do
Will have a look
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Good going Boris, sadly we aren’t anyway near using the £40k annual allowance so probably a simpler option for us.

We use a financial advisor as I’m just not overly comfortable with it all so we’ve just hives off part of our allowance against the kids. The FA then reports against that for us.
 
Osklen said:
Good going Boris, sadly we aren’t anyway near using the £40k annual allowance so probably a simpler option for us.

We use a financial advisor as I’m just not overly comfortable with it all so we’ve just hives off part of our allowance against the kids. The FA then reports against that for us.
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I won’t be using my allowance next year mind...I need a new car
 
Boris Bear said:
I'm probably looking at taking a profit (same as I did from Baillie Gifford American) and putting the money across some more secure investments for the kids, including some easy access accounts - as soon as I have the mortgage paid off and university fees squirreled away for the 3 kids I'll have one eye on retirement (I have two final salary pensions and a couple of others to look forward two when I'm older)

Any tips on childrens investments are always welcomed.
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There's some good variety in Child ISAs.

It comes down to risk tolerance as usual.

Just remember, the kids won't think you for losing a chunk but then they probably won't thank you anyway 😁
 
I'd appreciate any thoughts on this scenario -
25k in Lifetime ISAs that we were going to use as a house deposit, but decided you're not going to buy a house.
Would you leave the Lifetime ISAs as a pension and keep adding to it (max 1k bonus for 4k saved a year - can keep adding it til you're 50, take it out at 60) or take the money out and just put it into a S&S ISA?
Money out would be 20k because you lose the bonus (will be only 19k after end of this tax year as Covid exemption will be gone).
I'm 36.
 
Amokachi said:
I'd appreciate any thoughts on this scenario -
25k in Lifetime ISAs that we were going to use as a house deposit, but decided you're not going to buy a house.
Would you leave the Lifetime ISAs as a pension and keep adding to it (max 1k bonus for 4k saved a year - can keep adding it til you're 50, take it out at 60) or take the money out and just put it into a S&S ISA?
Money out would be 20k because you lose the bonus (will be only 19k after end of this tax year as Covid exemption will be gone).
I'm 36.
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Is the LISA money cash or equities and what do plan to use it for?
 
Amokachi said:
It's a cash Lifetime ISA. Was going to use it as a deposit for a house but changed our mind on that.
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Are you planning on buying a house at any point in the future? I know rates are shite, but I'd be inclined to leave it (and not contribute any more) as it a canny whack to lose & just incase you do want buy a house in say 5 years time. Then just start making contributions into S&S ISA.

You can also get S&S LISA's so might be worth looking into to see if you can do a transfer & not lose any of the bonus.
 
I should add that there's a possibility I'll leave the country in 4-5 years time so I believe that technically I won't be allowed to have an ISA while not resident here.
I don't know what'll happen with my LISA in that scenario.
 
Harbour Boy said:
Are lifetime ISAs worth it, I'm 28 so won't be able to claim it until I'm 60.
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You can use them for a house deposit if FTB.

It depends when you're looking to retire. If going to be after 60, then might as well. If wanting out earlier then no good.
 
42 said:
You can use them for a house deposit if FTB.

It depends when you're looking to retire. If going to be after 60, then might as well. If wanting out earlier then no good.
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Think there is a 20% fee for early withdrawal of monies from Lifetime ISA

Isn’t there a help to buy ISA also? Not sure if that is more advantageous as the lifetime ISA so you’ll still gain 5% of the government bonus? Think it changes in April?
 
Osklen said:
Think there is a 20% fee for early withdrawal of monies from Lifetime ISA

Isn’t there a help to buy ISA also? Not sure if that is more advantageous as the lifetime ISA so you’ll still gain 5% of the government bonus? Think it changes in April?
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Aye, you can with draw from LISA with big penalties. It kind of defeats the object of them if you were going to do it though.

I thought they got rid of the HTB ISA for new subscriber?
Think they were very similar anyway, (might have caused problems if you were buying a canny expensive house iirc)
 
Amokachi said:
I'd appreciate any thoughts on this scenario -
25k in Lifetime ISAs that we were going to use as a house deposit, but decided you're not going to buy a house.
Would you leave the Lifetime ISAs as a pension and keep adding to it (max 1k bonus for 4k saved a year - can keep adding it til you're 50, take it out at 60) or take the money out and just put it into a S&S ISA?
Money out would be 20k because you lose the bonus (will be only 19k after end of this tax year as Covid exemption will be gone).
I'm 36.
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Not an expert on an LISA as I was too old to qualify for one.

Are you 100% certain that you won't buy a house? A lot can change in the next 5-10 years. If you don't buy a house then are you prepared to rent for the rest of your life?

The loss of bonus would take a few years to recover in an S&S ISA but over the long term it should out perform over 15-20+ years
 
cosmicchris00 said:
There's some good variety in Child ISAs.

It comes down to risk tolerance as usual.

Just remember, the kids won't think you for losing a chunk but then they probably won't thank you anyway 😁
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I've noticed that Scottish Friendly are decent and offer a couple of hundred quid cashback through Quidco and Topcashback, which for a cash ISA is a decent head start.
 
Amokachi said:
I'd appreciate any thoughts on this scenario -
25k in Lifetime ISAs that we were going to use as a house deposit, but decided you're not going to buy a house.
Would you leave the Lifetime ISAs as a pension and keep adding to it (max 1k bonus for 4k saved a year - can keep adding it til you're 50, take it out at 60) or take the money out and just put it into a S&S ISA?
Money out would be 20k because you lose the bonus (will be only 19k after end of this tax year as Covid exemption will be gone).
I'm 36.
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I was looking into a LISA for retirement but just went for a SIPP in the end.
Money in a LISA counts as savings so I would have too much money if needed benefits at some point, so would have to withdraw it, lose the bonus and knack retirement plans.

Be the same for a S&S ISA, put it in a SIPP if you definitely want it for retirement.
 
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