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I’m now 76 years old, should I look at cashing in my ISAs?

18 October 2021

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Question by Robert

I’m now 76 years old, should I look at cashing in my ISAs?


Answered by Joshua Gerstler

Hi Robert,

Your age alone is not a reason to cash in your ISAs.

They are very tax efficient investment wrappers and so you should hold onto them as long as sensible.

First it is important to understand what you objective is for the money in these ISAs. Is it to pay your everyday bills? To gift to family members? To pay for care in later life?

Once I have a greater understanding of why you have the ISAs and what your goals are, I can help you decide if you should cash them in.

Feel free to contact me to discuss.

Thanks

Josh

Answered by

Joshua Gerstler

Chartered Financial Planner

I have been working in Financial Services for over 16 years. I started out at Deloitte where I trained and qualified as a Chartered Accountant before moving to Financial Advice/Planning at The Orchard Practice in 2011.