shesalright
New member
Hi All
I've had an investment account with L&G for 15+ years which started as a 10K GBP deposit and then paying 600 GBP month into it. I now have moved overseas (which is why I don't have an ISA) and I probably won't come back to the UK after retirement. (I'm 50).
L&G have written to me to tell me that my investment account needs to close at the end of the year and I have until March 24 to move it. I'm not really sure what to do with it without incurring a large tax penalty. It's worth >225K now. I don't have a financial advisor - do I need one? I was thinking of just transferring it to a different investment account until I retire but would a SIPP be better?
I'm not an active investor, I have just been saving money every month and putting it in tracker funds - something I'd be happy to continue doing until 67.
Any good advice?
I've had an investment account with L&G for 15+ years which started as a 10K GBP deposit and then paying 600 GBP month into it. I now have moved overseas (which is why I don't have an ISA) and I probably won't come back to the UK after retirement. (I'm 50).
L&G have written to me to tell me that my investment account needs to close at the end of the year and I have until March 24 to move it. I'm not really sure what to do with it without incurring a large tax penalty. It's worth >225K now. I don't have a financial advisor - do I need one? I was thinking of just transferring it to a different investment account until I retire but would a SIPP be better?
I'm not an active investor, I have just been saving money every month and putting it in tracker funds - something I'd be happy to continue doing until 67.
Any good advice?