Withdrawing money from stocks and shares ISA

catoutthebag

It's a silly mind set of mine. I agree.

The 1000 has been untouched for 2 years. It was not intended to be touched.

Psychologically I feel more protective of the 10k (maybe because it's a higher amount and I can see it/withdraw it). I attach greater importance to it currently, as I have a pension

Surely taking out 500 as a one off of the 1000 that has had no added investment over 2 years is not going to hurt me, especially as I feel more ready to add to it?

My mortgage is for renewal in April, looks like repayments may go down from around 400 to 300, so an extra 100 to play with each month

Malthusian

Given that stockmarket investment is likely to give you higher returns but only if you can avoid drawing on it in the short term, the £2,000 in Vanguard is the part that needs your protectiveness, not your cash. Cash doesn't need protection, it gives you the same return whether you draw on it or not.

If you plan to add money to it in the future and you have more than enough cash to pay the tax bill, why waste time (and some returns) drawing from the Charles Stanley ISA and then adding it back? Instead of withdrawing 500 from the CS ISA and then adding Y+500 back at a later date, just pay the bill from cash and then add Y to Vanguard.

The point of having money in cash plus investments in the stockmarket is to ensure that you don't have to touch the investments when the need for cash arises - possibly when markets are lower than they are now. You refer to it as a "one off" but there will be other one offs in the future.

cloud_dog

catoutthebag wrote: »

It's a silly mind set of mine. I agree.

Yes.

I'm not trying to be mean, I don't mean it that way.

It absolutely is your choice what you do, and whatever you chose to do it is the right choice; we all need to be comfortable with our choices.

This is just a comment, perhaps something to consider going forward. If you had to find £1500 (cash) in the next few days, what would you do? Would you (again) take equal money from savings/investments?

What is the purpose of the cash savings if not to use when you require it (that can be a saved goal or an emergency)?

I don't know how old you are but I have savings (cash), investments (S&S), and pensions (work DBS and a SIPP). Just because you have something (pension) doesn't mean you shouldn't also consider the other(s) (investments).

We have ISA S&S accounts nominally assigned to repay the mortgage, and one for our daughter, i.e. Uni, wedding, assistance with house, etc, etc). We use investments for longer-term 'savings' and you may want to consider this type of thinking also; although the risk aspect is something you need to be comfortable with.

I know I've gone way off topic so feel free to ignore but, just wanted to give you some questions to think about going forward.