Income suggestions from 60K ISA

Audaxer

fronty wrote: »

It seems like the only way to do this with HL is to turn off the "automatically pay out" option, keep the cash in the account then I go in every month and make a manual withdrawal, leaving cash in there if it's been a good month to subsidise months where there's a shortfall.

That sounds like a good plan, but as said above it would also help to smooth payments out if there was a 12 or 18 month cash buffer.

Any cash left at the end of the year can be paid out as a "bonus" or re-invested.

Or it could just be kept in the cash buffer.

fronty

SonOf wrote: »

In which case, I would change platform.

If a provider/platform cannot meet the requirements then it should be filtered out. There is almost certainly a cheaper platform that does this available.

Any idea what platforms support this? It seems like a very specific feature that is hard to find any information about just by looking at provider web sites, unless I just haven't been looking hard enough.

SonOf

fronty wrote: »

Any idea what platforms support this? It seems like a very specific feature that is hard to find any information about just by looking at provider web sites, unless I just haven't been looking hard enough.

I dont know the data on the DIY platform side. On the advice side it is a filter option on the research software. It may be worth checking out Snowmans platform comparison. It may mention on there (its a stab in the dark). Otherwise there is bound to be a poster here who has regular fixed withdrawals who could offer suggestions.

pip895

Why does it have to be within the platform? Why not just use an intermediary bank account, ideally one that gives a bit of interest on balances and simply receive the dividends and set up a standing order for the monthly amount going out into your Mum's main account.

fronty

pip895 wrote: »

Why does it have to be within the platform? Why not just use an intermediary bank account, ideally one that gives a bit of interest on balances and simply receive the dividends and set up a standing order for the monthly amount going out into your Mum's main account.

Yep, another good idea.