Savings Advice

Valley_Bluenose

Cheerfulcat - thank you.

I will have a trawl around to find a decent stocks and shares ISA for both myself and my wife. Given our funds I suppose we can afford to put £15k each into the next NSI Index Linked issue in addition to starting the stocks and shares ISA.

I guess those Premium Bonds will have to go!:D

cheerfulcat

Hi, Valley Bluenose ( something to do with football? ),

I will have a trawl around to find a decent stocks and shares ISA for both myself and my wife.

You don't have to find a stocks and shares ISA as such - you can open a self-select ISA with a broker and put whatever you like into it as long as it is ISA-eligible ( hence my suggestion of gilts earlier in the thread; there are plenty of investment/unit trusts with a cautious remit as well ).

Valley_Bluenose

Cheerfulcat - yes, football related. I live in a village called Valley and support a football team that play in blue!:D

I'm a little bit out of my depth when it comes to stocks and shares ISAs, though I have read Martin's article. I will have to investigate a bit more later in the week.

In the meantime, whilst I understand that no-one can give investment 'advice' on here, if you have any specifics that 'might' prove interesting to us then I'd be grateful to hear of them.

Thank you very much for your help to date.

collingwood21

Are the ISAa all cash ISAs? What about looking to put some money into stocks & shares ISAs?

cheerfulcat

Valley_Bluenose wrote: »

Cheerfulcat - yes, football related. I live in a village called Valley and support a football team that play in blue!:D .

Thanks - just curious!

I'm a little bit out of my depth when it comes to stocks and shares ISAs, though I have read Martin's article. I will have to investigate a bit more later in the week.

In the meantime, whilst I understand that no-one can give investment 'advice' on here, if you have any specifics that 'might' prove interesting to us then I'd be grateful to hear of them.

You could have a look at investment trusts. These are different from the usual collective investments ( unit trusts, OEICs and so on ) in that they are traded as shares. There is no initial charge ( though there is usually a buy/sell spread ) and management charges tend to be lower than unit trusts etc. The ones which interest me the most are those which are run as complete portfolios and have a capital preservation or absolute return remit; RIT Capital, for example. I believe that Personal Assets is run along similar lines. I am also looking at Lindsell Train and London & St Lawrence.

HTH

Cheerfulcat

Valley_Bluenose

collingwood21 - thanks to Cheerfulcat's helpful advice I am currently investigating stocks and shares ISAs as I know very little about them.

Cheerfulcat - thanks for the continued help. I will continue to investigate and will seek info on the investment trusts you mentioned.

Milarky

Valley_Bluenose wrote: »

Milarky - not sure I'm following you fully but, yes, I had forgotten the 10% band for my wife.

I now see you are essentially a basic rate taxpayer (albeit tipping all your taxed savings interest into 40% yes?)

The 10% band is available for 'savers' with no other income, essentially -that's your wife...

The personal allowance is £6035 (for everyone)
The next £2320 of income is at 10% for someone in your wife's position

If you had £36,250 invested @ 6.4% you would pay 40% tax on this

If your wife had this invested in her own name instead she would only pay 10% tax on this... (thereafter she would be paying 20% tax again)

so '30%' is simply 40% minus 10% of £2320 - a potential saving of £696pa

HTH

Valley_Bluenose

Milarky - cheers for that. Makes it all a bit clearer.

Up to my eyes in websites with stocks and shares ISAs at the moment.:eek:

Lokolo

Valley_Bluenose wrote: »

Milarky - cheers for that. Makes it all a bit clearer.

Up to my eyes in websites with stocks and shares ISAs at the moment.:eek:

Have you read about funds yet?

'Investing for Dummies' is quite a good read I found.