Monthly Income from Stocks & Shares ISA?

Shylock

Is there such thing as an S&S ISA that will pay out a monthly income, in a similar way to a Drawdown SIPP?  Presumably dependent on the underlying Investmentss paying monthly income?
Or is this a really stupid question 

JGB1955

I know that my late father certainly had such an ISA, set up by his IFA.  It paid a set monthly income, funded by dividends and the sale of some stock/shares from time-to-time.

stud26

If you invest in stocks, shares, ETFs and bonds that distribute dividends (rather than accumulate), then yes it pays out. I think you'll still need to withdraw it manually, rather than automated, as it's unlikely you'll get the same payout each month, depends on what your investing in. Dividends might be monthly, quarterly or even longer. Plus the percentage of the dividend might vary. I use the Trading212 Stocks ISA.

wmb194

stud26 said:

If you invest in stocks, shares, ETFs and bonds that distribute dividends (rather than accumulate), then yes it pays out. I think you'll still need to withdraw it manually, rather than automated, as it's unlikely you'll get the same payout each month, depends on what your investing in. Dividends might be monthly, quarterly or even longer. Plus the percentage of the dividend might vary. I use the Trading212 Stocks ISA.

Depends on the broker you use. If you wish, some can automatically pay away interest and dividends as they're received e.g., iWeb, Interactive Investor.

See this recent thread: https://forums.moneysavingexpert.com/discussion/6550324/ajbell-platform-dividend-payout/p1

dunstonh

Is there such thing as an S&S ISA that will pay out a monthly income, in a similar way to a Drawdown SIPP? 

Yes.  Most of the whole of market platforms can do it.

Presumably dependent on the underlying Investmentss paying monthly income?

No.   You can use total return (sale of units), cash float or income units or a combination.

I tend to use income units paying the distributions to a cash float and a regular withdrawal from the cash float.  Sometimes the cash float needs topping up from sales of units and sometimes you have excess cash where you buy units.    

Some platforms will allow the setting of a target cash float and will use smart sales/purchases to retain target asset allocation whilst ensuring there is enough to pay withdrawals.

Platforms vary significantly, with some having very basic functionality and others having significant functionality and configuration.