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

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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.

Which is the best savings account in terms of interest which is not an online one?

are there any investments you would recommend that have a slight risk but offer higher rates than the current risk free savings accounts offered by most banks, it would be nice to invest but the current interest rates are so low I hardly make anything on my savings.

What kind of account are available for my children (currently 10 and 8) where the money isn't available to them at 18? I don't think it would be wise for them to have access at 18 as I'm worried it may get squandered! Thanks :)

We started a kids isa/child trust fund for our dcs as the government were doing the starter voucher thing when our eldest was little.
My husband and I are in discussions as we are still paying in a fairly substantive sum per month into each of the 3 of them but are living in our overdraft and paying interest accordingly. To my mind we should reduce what we put in savings until we’re on an even keel but my husband thinks we should keep saving and it’s still worth it even if it makes us over drawn, because of the interest. My heads a bit confuddled by the figures, what do I need to look for/compare to work out if he’s right?

Also I have a cash isa with a good amount in, would I be better moving some to a stocks and shares one? It’s at about £30K I think but we have lots of liabilities when we might need a rainy day fund and we are not in a position to pay in any more any time soon.

Is this a pointless exercise?

People's questions are going to require advice when you answer in order to be useful and practicable. They don't need generic guidance - the complexity is all in personal circumstances. But you haven't done any due diligence, capacity for loss or risk profiling so how are you going to ensure there's no potential for customer detriment?

I currently have a junior bank account for my son that pays 3% interest up to £2000. Now that I am nearing the £2000, Can you advise on what other junior accounts paying reasonable interest rates are around at the moment? I would rather have his money earning something than keep depositing funds in his account after its reached it's interest pay out limit.

What type of ISA is best to save for a house deposit? I find them so confusing

I am 50 years old and only began paying into a pension 2 years ago, is it worth me still paying into a pension or would I be better off saving instead?

Should I be investing my money into a stocks & shares isa ahead of Brexit?

I've seen so many adverts for pre paid funeral plans and I would like to ensure my children don't have to find the money for mine. Is it worth buying a pre paid plan or would I be better to open a new savings account specifically aimed at saving towards a funeral plan and putting some money in it via direct debit each month? I'm currently 58 (in case that makes any difference)

what the best junior isa?

I have a very tiny start of a personal pension, should I be trying to add to this or concentrate on overpaying my mortgage to get rid of that first (very little money to spare).
I'm mid-aged so not much time left to make any difference!

I am 30 with poor credit history (that is very slowy improving) my partner has a very good credit rating and is a previous homeowner. We want to save for a mortgage but we have two young children. What are the best options for us in terms of investments or savings accounts?

What is the best way to save for my children so that I still have some control over their money when they reach the age of 18?

Am I better to put my children's money in premium bonds than in an account? Even if it just won the smallest amount of £25 it would be more than current interest couldn't it?

I have always tried to save, having lost my job due to lung clots, I am now receiving universal credit, and with that you are able to open a savings account, to save for up to four years, where they will match up to £50 that you deposit each month, i think its fabulous and will be looking into opening one up.....

I am a teacher and I want to retire early (55 hopefully). Are AVCs worth investing in?

How do I choose the best savings account for my children?

What are my best saving and investment options ( aside from pensions) to hedge against Brexit?

What is better for my children - premium bonds or ISA's?

Thinking of the childrens future, what is the best time for them to start a private pension so that they can live comfortably when they retire and not have to struggle.

Is it sensible to think of accessing pension early for a lower lump sum?

Is there a formula to calculate how much you need to have saved in your pensions pot to get a certain amount of pension?

What is the best type of account to make regular deposits for grandchildren.