10,000 to invest

MoreMoneypls

I would like to invest £10,000 . I was thinking of putting £3000 into a mini ISA,and the rest into the ICICI Hi Savings account. Would this be my best option.can anyone else think of a better idea

Thanks in advance. :rolleyes:

moneytroll

your plan is not called 'investing', it's 'saving'. depending on various things (mostly the length of investment/your risk profile) equity Maxi ISA would be by far a better option for a long-term investment.

MoreMoneypls

What is the maximum amount you can open wth a Maxi ISA? :rolleyes:

moneytroll

7k per year - but make sure you read up on it before you rush into either maxi or mini. once you open one type, you won't be able to change to another for a whole year. there are very useful articles about them on this site.

claretmatt

You can put in £7,000 into a Maxi ISA each tax year or you can open two Mini ISA's - £3,000 in cash and £4,000 in equity based investments.

Chrismaths

You can put in £7,000 into a Maxi ISA each tax year or you can open two Mini ISA's - £3,000 in cash and £4,000 in equity based investments.

Doesn't have to be equity based. You can put gilts, bonds, property funds et alii into the 'stocks and shares' component. Or just a fire and forget diversified fund of funds for that amount of money.

claretmatt

I was trying to draw a distinction between the two thats all

MoreMoneypls

Thanks for all the helpful advice

:beer: