What is the most people have saved in a mini cash isa?

whiteflag_3

Being an IFA im skint, however ive got plenty of clients with in excess 0f £200k in mini / maxis ISAs and PEPS.

Long term saving does reap its rewards :j

isasmurf

ReportInvestor wrote:

Well done everyone, but......

Can the MSE management please put a block on this thread so that Gordon and Treasury can't read it ?

That's not going to do any good, unless you also tell your ISA manager to break the rules.

Horasio

I am new to isas - how come you have such high amounts?

ManAtHome

They've been available for 7 years, so max in £21k plus interest. Before this, there were TESSAs - max on these £9k plus interest (you had to convert these to TOISAs - Tessa-only-Isas a few years back).

Swipe

This thread just demonstrates how savers were so much better off under the Tories. People back then had a real incentive to save.

al_yrpal

whiteflag wrote:

Being an IFA im skint

Thats not a very good advert for IFA's! Surely you can do better than that.

If you are confident of your own advice how come you aren't borrowing and using that to invest - herds of sheep are currently doing just that with BTL's?

ReportInvestor

Ouch .

With mortgages available at around 5% that's a good question for IFAs who trumpet investment performance.

thor

Swipe wrote:

This thread just demonstrates how savers were so much better off under the Tories. People back then had a real incentive to save.

This thread does that? How so? If you are referring to Tessas then you were only allowed to save a max of 9K over 5 years while for cash isas you are allowed to stash up to 15K in the same time period(and the money saved in Tessas still retain tax free status).
Cash ISAs are the best savings vehicle there has ever been(superior to Tessas) and despite all the sniggering about them when they were initially introduced they are massively popular. I remember thinking when Tessas were invented '£1800 per annum for 4 years and only £600 in the final year?' is that it? This is why GB will never close ISAs or cut the amount you can save.
Stocks & Shares ISAs(like Peps before them) however just leave me cold. It's shares and you money can go up or down. Nobody can predict the markets and the cash that can gained or lost through stock market movements far overshadows the benefits of tax free status. Essentially I'm trading the possibility of big profits for the security of my capital and am quite happy to do so.

al_yrpal

thor wrote:

Stocks & Shares ISAs(like Peps before them) however just leave me cold. It's shares and you money can go up or down. Nobody can predict the markets and the cash that can gained or lost through stock market movements far overshadows the benefits of tax free status.

Stay less rich and happy then!

Many people manage to make a bob or two out of investments in funds and trusts and there are sure fire ways of making better returns than savings ISAs in the longer term by buying high dividend shares. How do you think they generate the interest you get on your savings? Its not all from mortgae and loan lending.
The thing is if you expect to invest and forget, or invest and do nothing stick with savings. But, if you are prepared to put in a little bit of effort investment can be very rewarding.
Have a look at the HYP board on the Motley Fool and expalin how there are so many very smug stocks and shares investors doing very nicely thankyou?

sly_dog_jonah

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