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.

Is it best to save money for children/a rainy day or put everything into overpaying a mortgage so it's paid off quicker?

I wonder whether it’s worth saving for your children when the parents don’t have much saved for their own retirement?

I feel unsure as to whether I should fund my own future first or set as much as possible aside for my children. Thanks in advance.

We’ve just sold our house for more than we’ve purchased another but it needs major work done. However with planning permission and finding a builder it’s going to take at least 6 months before work starts so what is the best short term solution rather than having the money sat in our ordinary account please?

I'm not working at the moment so not paying tax. I have just under £50k to invest, currently in Premium Bonds but haven't won much lately. I don't like taking risks and am concerned about Brexit and how investments could possibly be affected. Do you have any suggestions please?

Every month I have the same amount taken straight out of my wages and put into a share-save through my work place for 3 years and the return is not bad. I find saving this way is the best way to do it as I don't miss the money every month and every 3 years I'm able to have a nice holiday or buy something nice for the house.

Are there any simple savings account for children. That have online banking and a limited amount of withdraws each year? So we can start teaching kids about saving and taking out money as and when needed?

What are the best options for long term saving at a decent rate - I get frustrated with the endless short term regular savers and so on that get you a good rate for a year, but then you have to remember to move your money at the end and the whole thing starts again. Is there anywhere I can put my money where I'm guaranteed to continue to get a decent rate?

We have some savings sat in a cash ISA, virtually not earning any interest.
What would be a better product for us please? We could potentially lock the money away for 5 years.

Is there a beginner guide (for dummies) to stocks and share you would recommend? I've looked into it a few times and felt completely overwhelmed but would like to give it a try.

We're saving into stocks and shares ISAs for early retirement. When we come to use the money, are we best to try and time the market, taking out an annual lump sum once a year or taking out a fixed amount each month regardless of how well it has performed?

At what point do you suggest that savers or investors seek regulated financial advice? There is a well documented advice gap as a result of falling numbers of advisers overall and an increasing number of them only accepting high net worth clients. Arguably those with smaller sums are the ones most in need of good advice.

What exactly are LISAs? And are they better for long term saving than a regular ISA?

What is your one piece of advice on saving for a low income family with very little to spare

I am prioritising overpaying my mortgage over a pension as can’t afford both.

But what would be best? A client gives me a bonus each year, say £500. Would it be better to pay it into a pension each year? At the moment I pay it off the mortgage.

I currently put money away each month for my 3 children into their individual current accounts. I know this is not the best way to save for their future - so would be the best option in terms of long term savings accounts?

should I move the £5k I have in an old ISA to a stocks and shares ISA? It looks complicated. I have a current ISA and that seems to make it more complicated.

Also should I move my DD (13) child trust fund to a Junior ISA? I moved older DS's CTF at this age but only because a friend recommended it, not really sure what to do

now that the interest on savings accounts is tax free is it worth opening one or an isa?

Are premium bonds a worthwhile investment?

At what age can you open a children’s ISA?
Is it best to have an ISA or a savings account?

Are stocks and shares savings accounts worth the risk?

Is gold a good overall investment, I understand sovereign's are vat free...

I find it difficult to get motivated sufficiently to investigate savings accounts when interest rates are so low, it feels like it's not really worth the effort, is it - and if so, where are the best places to start looking?

Is it worth waiting till after Brexit to invest money?

can Grandparents open an account for Grandchildren that gives a decent no risk amount of interest?

What amount of money should I be looking to put away for my 4 year old so that it is a good amount when they reach 18, and what sort of account is the best to pay it into?