Got any questions on investing and saving? Ask the experts at Legal & General

[EllieMumsnet]

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Savings or investing? Cash ISAs or stocks and shares ISAs? Should you invest for yourself or your children…...it’s safe to say there is a fair amount to think about when it comes to your money and it can be difficult to sift through all the information out there to find out what you really need to know. We conducted a survey last year with over 1,500 MNers & GNers and found that 18% would like to invest their money but don’t know the best way to do so and 10% don’t know the best way to save their money. With that in mind, Legal & General are here to answer any questions you have around savings and investments.

Here is some more information on Helena Morrissey from Legal & General: “Helena Morrissey DBE, Head of Personal Investing. Helena joined Legal & General in 2017 as Head of Personal Investing and has been leading the drive to ensure that the benefits of investing are better understood and widely available, with a particular focus on improving women’s financial wellbeing. Prior to joining Legal & General Helena was CEO of Newton Investment Management.”

Here is what Legal & General have to say: “A nudge in the right direction can often kick start a saving habit that can help with a more secure financial future. Getting started even with a little and often for you and/or your children can really pay off over the long term. It’s never too late to start saving and investing, so if you haven’t started yet what’s stopping you?”

Whether you have questions about the best way to begin investing, or creating an ISA account, how much you should be saving or any questions around how to save for your child’s future, ask them on the thread below and we will choose 10 for Helena to answer.

Everyone who posts their question on the thread below will be entered into a prize draw where 3 MNers will win a £100 voucher of their choice (from a list).

Thanks and good luck with the prize draw.
MNHQ

Standard Insight T&Cs Apply

Open 11/02/19 to 25/02/19. To enter please post on the thread below. One entry per person. Three prizes to be won: £100 voucher of winner’s choice chosen by random draw performed by computer process.

The value of your investments can fall as well as rise and any income from them is not guaranteed.
Legal & General (Unit Trust Managers) Limited.

[SoapyBubbl]

I want to save for my children in a tax-efficient way but I don't really want them to have access to huge amounts of money at just 18. Is there a sensible way to do this short of a trust fund? How expensive and difficult is it to set up a trust fund?

[BristolMum96]

Similar to PP. I want to save for my daughter but I want to decide what age she has access to the money, as not everyone is sensible or mature enough at 18, 21, 25... how can I save for her in a good interest children's account but be able to decide the limit?

[Thiswayorthatway]

Is there a youngest age you can start a pension?

[LKRJM]

I don’t have any children but my partner and I opened ISAs for our nephews, putting small amounts in monthly since they’ve been born (now aged 5 and 3). We’ve never looked at it since, just opened with my partners bank and put the money in. Is it worth looking around for different banks? Or is it a case of they’re all pretty similar? What, in your opinion is the best thing to do with smaller amounts such as £5-10 per month? We figured although only small it’ll be a good 1200ish for a 21st, but the more we can save/invest the better for their future.

Thank you

[LordProfFekkoThePenguinPhD]

The panic that is Brexit - should we look to move our stocks and shares ISAs out of European funds?

[spinabifidamom]

How do I teach my kids about money? What is a junior ISA? Is it a good idea to open one or not? Our children are two years old now. What would you recommend as the best option? I’m going to the bank tomorrow morning first thing. What else should I be asking?

[percheron67]

I am retired but would still like to save and make some extra income when I can. What is your advice, please? Thank you.

[QueenOfPharts]

At the moment only my kids have savings. I have no savings since we got married and bought our house 8 years ago. We still have a quite a lot of debt eg credit cards and loans. Should we focus on paying off debt or should we be thinking about saving money too?

[nannynick]

The stock market is a roller-coaster with lots of ups and downs and I know you have to look long term (5-10 years+) but it is a little frightening seeing your investments drop in value.

What can you say/write to encourage people to invest in the market even though it is quite volatile at the moment. Historically the market has gone up in any given 15 year period... can't predict the future but I hope that remains to be the case, so I consider a drop meaning that the funds are on sale. Is this the right way to view the market drops... as a sale?

[BackforGood]

I have a few shares from when the company I had my mortgae with was mutualised in the 90s. The dividends are always a better return than if I had m money in a deposit account, and I was thinking of buying some more shares. How do I begin to find out what to buy, and even how to buy them ?

[littleme96]

If you only have a small amount of cash savings, would it be sensible to open a S&S ISA to maximise the potential interest rate or should you wait until you have a decent instant access emergency fund first?

[namechangedforanon]

Once I have a stocks and shares ISA - how do I know what to invest in?

[namechangedforanon]

Given the reality of a potentially post Brexit recession , what good investment choices should I make ? Should I look to emerging markets funds etc so I am not as reliant on the Uks success ?

[torthecatlady]

Is it worth saving in an isa if you are t saving big amounts or is it better to put into premium bonds?

[del2929]

what are the 'safest' options re investments?
premium bonds are great but with little return if any.

[Macaroonmayhem]

We have £20k windfall to invest over a long term. With Brexit on the horizon should we lock it down in a short term fix with a guaranteed rate and see what happens or do you think stock and shares are always a better bet if you are looking longer term, say 5-10 years?

[callmecrazybut]

Will there be any legal changes as a result of Brexit that might affect savings and investments?

[Solo]

I have 12 months left on my mortgage and currently have the means to pay it off but, I also have a lot of work to be done on my house. I've been toying with paying the mortgage off a year early and saving the 'mortgage money' to get the various work done to the house over a period of time - possibly opening a couple of ISA's to do so but, unsure about what would get me the most money in interest. I do though, currently only pay a mortgage interest rate of 2.24%. I'm a single parent, only work part time and don't earn a big salary so, generally, I can't save money. Any advice, please?

[CordeliaScott]

I'm in my thirties and currently have a work pension but no real savings. I'm about to get a pay rise. Am I better off increasing my work pension contributions or starting to invest in an ISA?

[Lobster84]

How to leave someone you still love ? My ex has abused me physically and emotionally for the past 2 years we went though a really bad time ino we weren’t good together he’s so cruel towards me speaks to me as if am something on his shoe has no respect for me at all calls me names in front of people I’ve never met I can hear it in his voice that he has got hate towards me the shouting well screaming he does has me in tears all the sighs are there he’s in a new relationship but won’t own up too it he’s just playing the nastiest game of all time we had a child together which I think that’s the only reason he try’s to speak to me, after everything that’s happened he’s moved on with his life moved away to another city and am still stuck in this but I love but will he ever go back to the person I met place, a lot has happened between us police social services courts family’s now he’s in jail all of which he blames me for,I cry still every day I feel like my heart has been shattered my insides feel constantly Ill.. I can’t understand why I still love this man the way I do when he doesn’t obviously care about me anymore I’ve tryed getting on with life and forgetting him the best I can nothing seems to work I don’t no what else to do he still calls me and shouts till this day I end up crying thinking it’s all my fault..he says he’s coming to take my child when he gets the chance tbh I’ve never thought that a person can be so evil towards another human being especially a women.. am really struggling emotionally physically and financially which he’s not interested to say the least. I just don’t no what else to do how do I break free of this person 😭😭

[PyongyangKipperbang]

I have very little to save each month, single parent working but on a low income.

There are various schemes and apps that will take small amounts of money, such as rounding up purchases to the nearest £, and save/invest it. At first glance these seem like a good idea but are the fund protected? Are they as good as they sound or is there a better way to save small amounts? How do I decide which, if any, of these schemes to go with?

[Ashhead24]

What's the best non risky way to save for children? And is there a way to avoid automatically giving access at 18?

[CatherineMaitland]

I'm 39 and have no pension. I do save but not in a pension scheme. Is it too late to start a pension and how much should I be saving? The suggested monthly figures terrify me and would tie all up my savings. Is it silly to feel it's already too late to start?

[AlwaysaLittleBitTired]

Should I start pensions for my children?

[Popcornandbuttons]

Is it better to be putting money into savings for my two kids on a monthly basis or to be saving this money to pay off more of the mortgage each year?