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The State Pension means the world to millions, but it\u2019s not enough. It pays a maximum of \u00a312,547.60 a year, but anybody who tries to survive on that income alone will struggle. So what\u2019s the alternative?<\/p>\n
One answer is to save under your own steam, and the Stocks and Shares ISA<\/a> is a brilliant way to do it. Every UK adult can invest up to \u00a320,000 a year, and take all of their capital gains and dividend income free for life. Some may like to combine it with the lesser-known Self-Invested Personal Pension (SIPP).<\/p>\n Should you buy Legal & General Group Plc shares today?\t<\/p>\n Before you decide, please take a moment to review this report first. Despite ongoing uncertainties from US tariffs to global conflicts, Mark Rogers and his team believe many UK shares still trade at substantial discounts, offering savvy investors plenty of potential opportunities to learn about.<\/p>\n That\u2019s why this could be an ideal time to secure this valuable research \u2013 Mark\u2019s analysts have scoured the markets to reveal 5 of his favourite long-term \u2018Buys\u2019. Please, don\u2019t make any big decisions before seeing them.<\/p>\n So how big should my ISA be?<\/p>\n Let\u2019s say an ISA investor wanted to boost their retirement prospects by earning another \u00a312,547 a year on top of their State Pension. That would lift their total income from those two sources to \u00a325,094. That\u2019s a bit more like it.<\/p>\n How much capital they\u2019d need to generate that depends on the yield from their ISA:<\/p>\n At 4% they\u2019d need \u00a3313,675.<\/p>\n At 5% they\u2019d need \u00a3250,940.<\/p>\n At 6% they\u2019d need \u00a3209,117.<\/p>\n A popular way to generate that kind of income is to build a spread of high-yielding FTSE 100 shares. Today, the highest yield on the entire blue-chip index comes courtesy of insurer and asset manager Legal & General Group (LSE: LGEN<\/a>). It\u2019s currently a stunning 8.08%.<\/p>\n Somebody who wanted to generate \u00a312,547 a year of dividends from this stock alone only needs to invest \u00a3155,285. But I wouldn\u2019t suggest doing that.<\/p>\n