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Need to know
A fan asked for Martin Lewis thoughts about when to cash in their funds
Need to know: Martin Lewis shares tips on planning for your retirement –
- Martin Lewis has shared some thoughts on retirement planning during his BBC podcast.
- He responded to a 47-year-old listener’s concerns about when to access their investment funds.
- The caller said they were contributing £50 monthly into a stocks and shares ISA through Moneybox. They asked whether he should stop investing at 55 to allow his final contributions time to grow before withdrawing at 60.
- Lewis reminded listeners of his key principle: “My investment rule is if it’s money that you don’t need and you’re putting it away for more than five years, savings is the poor relation to investing, so you should consider investing.”
- The money-saving expert said his five-year rule is because “markets move up and down” and you don’t want to cash in when it’s down
- Lewis advised the investor that his retirement age target of 60 should be viewed as “soft guidance” rather than a rigid deadline. He suggested investors could continue contributing closer to retirement by switching to less adventurous portfolios around age 57 or 58.
- Significant changes to ISA allowances are also taking effect from April 2027, restricting how savers can use their £20,000 annual tax-free limit.
READ THE FULL STORY: Martin Lewis ‘hard rule’ update over retirement planning between ages 55 and 60
