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How do I draw an income?
malcolmfowler
Posts: 50 Forumite
Hi,
This may be a stupid question but is it possible to draw an income from your investments?
We currently have about 40K in cash Stocks and shares ISA's and some in regular ISA's. The wife has 50K in Pru teachers AVCs fund and I have 57k in my AVC fund. I'm 55 and she is 56.
I reckon this should yield about 6k per annum but I'm thinking it's just locked away until we retire. Is this right?
This may be a stupid question but is it possible to draw an income from your investments?
We currently have about 40K in cash Stocks and shares ISA's and some in regular ISA's. The wife has 50K in Pru teachers AVCs fund and I have 57k in my AVC fund. I'm 55 and she is 56.
I reckon this should yield about 6k per annum but I'm thinking it's just locked away until we retire. Is this right?
0
Comments
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It depends - most funds are described as either income (where you receive the dividend payments) or accumulation (where the dividends are reinvested automatically). Your "regular" ISAs (which I assume you mean are "cash" ISAs) just earn some interest which will show in the form of increased balance in the account.
I would suggest you ask on the 'Savings and Investments' board rather than here. Although the question is about upping your income, it's more an investment-related question.0
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