S&S ISA - can I change how I want it later

[WoodburnersRUs]

I’m about to start investing in a stocks and shares isa, probably through AJ Bell and a tracker fund maybe with some commodities. I want to fill it up each year and leave it alone to do it’s thing so would want any dividends reinvested.

However. After say 5 years, I would hope to have £100k (if the stock market hasn’t eroded it and if it has I won’t want it) and I would hope it has grown but for argument’s sake if it could pay out around £4K a year in growth, can I just tick a box and take an income from it and then turn it back to just growth if I’ve had enough?

Hope that makes sense! I just want to invest spare money and be able to turn the tap on and off at will, but mostly keep it off.

You may need to switch to an INC fund from the ACC funds, or you can just take the Dividends from the ACC funds as an income.

However, better to select and actual fund that is driven to providing an income, albeit at the detriment of longer term capital growth

Ok great. I don’t think I’m disciplined enough to go all in on income and I don’t need it yet. I will try to find a product where I don’t need to sell everything in Acc to buy in Inc as that could be expensive.

Thanks for your help.

However, better to select and actual fund that is driven to providing an income, albeit at the detriment of longer term capital growth

Totally bollocks! Dividends are a management issue, NOT an indicator of business success - Apple does pay dividends to any great degree.

You can take a monthly income via disinvestment ie from growth and income, MUCH better (and there are thesis aplenty to prove it). Turn it on or off as you see fit.