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

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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.

My daughter doesn't have a credit card because I have taught her to save before you buy what you want. Her phone etc has always been in my name. This means she doesn't have a credit score. What is the best way to help her start building good credit? Should she get a credit card? Any other tips on how to help her build her credit?

What is the best bank account with a card to teach children about saving and spending?

I need to start a pension, but its a minefield.
There are so many with different charges.
I do not work but would love to start paying into one, before its to late.

I have a cash isa but the interest rate isn't as good as a standard savings account. Is there any benefit or should I just go wtih a "normal" savings account?

My parents want to put a set sum away each month for our kids, any suggestions what type of account would be best. Can we set an account up that they can't access until they are say 25?

I've some investments in stocks and shares, but not very happy with relatively low returns at present, or with high platform fees and ongoing charges. I have no experience of tracker funds but have heard they are cheaper to hold and might be just as good as managed funds, if you pick the right ones. How would I go about finding the best and safest tracker funds to invest in, please?

Can Grandparents open savings accounts and buy premium bonds in the name of their Grandchildren?

I've just had a small inheritance and want to save it. What will give me the best return on my money?

I pay in 13.5% of my wages into a pension scheme every month, when i received my latest pension statement I was surprised to see how poor my pension is at the end. What are my alternatives?

I recently took (Very) early retirement on health grounds and opted to take the largest lump sum / smaller option as my life expectancy has been shortened. My financial contribution to our budget is now pension, ESA with support group addition and PIP at enhanced levels. Nowhere near a full time wage, but similar to my part-time wage before. Is there a way to make sure my husband doesn't suddenly find himself lump-sum rich but income poor when I die

My children have Junior ISAs, in your opinion are they a good investment or should I consider moving them to something else? They also have children's pensions, I'm wondering whether I should pay less into the pensions and more into the ISAs or another investment you might have in mind.

I have £40k sitting in a savings account with virtually no interest. I don’t have a pension (I do have one via my employer but it’s minimal and I’ve only paid into it for five years). DH has no savings but an excellent pension.

How best should we save for the future? I always intended to get a second property and use the £40k for that but I wonder if it’s best to put it in a pension.

I want to put some money away regularly for my daughter but at what age is the child entitled to the money that has been saved; I'd like to save it for her driving lessons or a car preferably and I don't want her to fritter it away; would it be best keeping the savings in my name or transferring it into my name at a certain age.

I'm wanting to start saving, but want an account I can access easily, it's mainly so I have enough for the things like car insurance, Christmas and Birthdays, appliances breaking etc. I recently had the car break down and was not prepared for it. I only have a current account with almost zero interest. Thanks

Can I set up a pension for my 10yo DD?

One of our ISAs is invested in a fund that's on a steady downward trend but this obviously only really matters if/when we cash it in. So my question is:

If the fund you're invested in is underperforming is it better to cut your losses and move to a better performing fund, or wait to regain some of the losses first and then move it?

My sons Junior ISA is invested in stocks and shares. Should I be looking to move that away from European funds with Brexit or take a long term view on it?

How can I best invest £10K to get the highest return?

Is it better to save or pay off your mortgage? Where do pensions fit into the prioritising of finances?

We having a savings account for my daughter, but as she's only 2, she won't have access to it for a while, where would be best to invest it as long term bank account interests aren't great?

What is the difference of a LISA and a Help to Buy ISA when buying a first home?

I want a fair return but know I extremely risk averse. What would you recommend?

Is low risk investing worth the effort? I appreciate investing into high risk can make good returns (and losses, too!) but is the return on low risk even worth the bother?

Am I better off with premium bonds with interest rates so low?

Having moved jobs, i now have paid into retirement pension pots with a few different companies. Should I leave them or is it best to combine?