Speaking to my Dad today, he's able to max out on subscribing to shares ISA's before the 5th April.
My layman's idea for a plan was:
1. Pay the full sum in, investing 25% in highly recommended equities fund, 75% held in reserve eg in a cash fund with the intermediary.
2. Circa a month later...
That usually works out in these circumstances, effectively double the ISA limit subscribed in April. I’ve never had the cash to anything like that (money spent on nice holidays and bringing up kids), but my Dad’s done well from that route.
You probably know of the FT’s Gillian Tett. She said yesterday no one ever knows (obviously) when share and other prices have bottomed out, but once they do the recovery proper always comes.
My thinking is to drip feed monthly sums into equities (SIPP and ISA) starting in a few weeks time...
The virus has barely touched the UK yet, but will, with a recession to come. After just a few days, the markets haven’t permanently bottomed out, the short term ups and downs just now an irrelevance in the longer cycle.
Patience is required, drip feed buying in a few weeks or months time.
Totally agree.
There are many imho crooked entities pushing people to drawdown their pension early, at incredibly healthy commission to them. Some blatantly criminal, others only with $$$$ eyes for their commission.
We may consider ourselves financially literate, but many others aren't so...