My dad sold the flat that is/was owned by my, me and my sister. The money from the sale goes into a trust. My sister and I now have to decide what to invest the money in. An ISA would of been my choice because of the low risk. But the low yield on the interest. And that it is only £20k a year. So then what should I invest the rest of the money in?
Your children might pay upto 40% tax on your ISA money after you die through Inheritance Tax. SIPP money transfers through Inheritance without Inheritance tax. Therefore, it makes sense for people who are withdrawing pension money from their SIPP in drawdown fashion (not annuity), to leave that money alone (because they pay income tax on that) and take from thier ISA instead, when the threshold of income tax begins. If you got a net fortune (including your home) of above £500,000 and you're above 50 years old, you need to speak to a financial advisor to get independent financial advice for your children's sake!
@@stevefernandez84 all the time, thats probably why if i cash in my gold i would get a return on it that would be more if i put my money in a bank account.
The celebrity presenters looking like they dont know about avoiding tax.
Did Martin cover off Junior ISAs. Phil would have interested in learning more about those
My dad sold the flat that is/was owned by my, me and my sister. The money from the sale goes into a trust. My sister and I now have to decide what to invest the money in. An ISA would of been my choice because of the low risk. But the low yield on the interest. And that it is only £20k a year. So then what should I invest the rest of the money in?
Your children might pay upto 40% tax on your ISA money after you die through Inheritance Tax.
SIPP money transfers through Inheritance without Inheritance tax.
Therefore, it makes sense for people who are withdrawing pension money from their SIPP in drawdown fashion (not annuity), to leave that money alone (because they pay income tax on that) and take from thier ISA instead, when the threshold of income tax begins.
If you got a net fortune (including your home) of above £500,000 and you're above 50 years old, you need to speak to a financial advisor to get independent financial advice for your children's sake!
what if i dont have a job right now, so technically an isa is worth it coz im not earning jack rn
I know the feeling!
Martin Lewis still looks same 😊
i got my own version of an isa, its called gold sovereigns.
You have been watching Robert Kiyosaki
@@stevefernandez84 all the time, thats probably why if i cash in my gold i would get a return on it that would be more if i put my money in a bank account.
Martin is probably regretting this.