Maxi ISA's until 2012??????

Ben_on_a_Boat

Afternoon all, I am currently reviewing my finances and have spent quite a bit of time trawling through posts on this site - all very very informative, so thanks everyone (especially dunstonh and EdInvestor!). I made a previous post when I first joined this site, which crashed and burned; I am starting to understand why!!!
My situation - 28, with no pension and two cash ISA's. My company does not offer a decent scheme and I have looked into personal pensions. I would probably go with something Cavendish online or H & L after some IFA help if I were to. However, it seems to me that my best plan is to get a Maxi ISA each year until 2012 when my small company will be forced to contribute to a pension scheme. I have read that things may be phased in as of 2012 so may take a while before my company starts contributing fully. Can I afford to wait until 2012 or longer before setting up a pension?
Currently, I have about 200 quid a month I could put into a pension or save for a Maxi ISA in April 2009. However as of August 2009 I will have about 1,000 per month to save. I have read that with 1,000 a month, it may be worth starting a pension before 2012. Any thoughts?
If I decide to get a Maxi ISA in April 2009, I will probably get an H & L Vantage ISA, transferring my two cash ISA’s into it and changing them both to stocks and shares (with IFA advice). I am unsure on this – is it wise or would I be better be leaving some as cash and some stocks and shares – say 30% cash/70% stocks and shares?


Clearly whichever wrapper my funds are in, I am happy to have medium/high risk investments because of my age as they would be long term investments for retirement.

Thanks in advance for any replies.
[FONT=&quot]Ben[/FONT]

Lokolo

Well it depends how you view everything really. A lot of people (inc. myself) like to be safe and only dabble 20% of something with investments, mainly because I only have few funds to save (student, not loads of income at the moment). Obivously when I am your age I will most probably feel the same and go for investments more. But if you don't mind risking money then yeh, go for investments.

Also, Maxi ISAs don;t exist anymore. They are now called Stock and Shares ISA, and Cash ISA (obivously for the mini bit).

The limit is also £7200 for the S&S (£7200 - any amount you put in cash ISA - cash ISA has a max of £3600 though) now, not what it used to be last year.