Hi
Can anyone recommend how we should allocate money into tax saving accounts vs 'normal' accounts? And how to allocate withdrawal from the accounts to fund expenses during retirement?
Here is my case:
I am planning my move to UK permanently from Hong Kong with my British Citizen Husband and 2 children.
We will be unemployed and hope one of us will find a job within a year or two under the current economic situation.
I am thinking how to operate using ISA and other accounts to fund our spending (if we can't find a job) and longer term retirement investment tax effectively
We have around
1. relocation/2 years expense/emergency: Cash 120K
2. Pension: 300k
3. Stocks: 500k
4. Cash: 300k
Our expense estimates- 50k yearly - 30k + 20k (rent)
This is a bit on the conservative side of financial planning, actually I think we would more likely end up on 40k and might be lean fire on that but we will see.
Note Pension is around 60% equity fund, 40% bond fund, Likely need to liquidate at date around resignation not of my choosing(?) and reinvest, which hopefully the market would not be volatile like March
Jacinle