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MSE News: Is it still worth saving in a cash Isa?



  • tradetime
    tradetime Posts: 3,200 Forumite
    I think it is certainly worth examining the case for and against using them based on personal circumstances, I think it is no longer the case that filling your ISA allowance is a no brainer as often trotted out here. It's still definitely worth it for higher rate tax payers, and people should consider if that's in their future. As for basic rates of tax rising, certainly possible, but I suspect the banks will compensate by making the rates on ISA's even worse.
    Once the banksters get their sticky hand in your pocket it's pretty hard to get them out.
    Hope for the best.....Plan for the worst!

    "Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown
  • zimbabweborn
    So would it be better to invest the whole allowance (7200) into investor isa(stock and shares) with current cash Isa rates low ?
  • Aegis
    Aegis Posts: 5,688 Forumite
    Name Dropper First Post First Anniversary
    So would it be better to invest the whole allowance (7200) into investor isa(stock and shares) with current cash Isa rates low ?
    "Better" is subjective. If you're investing for long term growth anyway, then I would usually say yes, but if you generally stick to cash, then probably not.
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • michaels
    michaels Posts: 28,141 Forumite
    Photogenic Name Dropper First Anniversary First Post
    Only problem is the tax break is so valuable that I can't bring myself to ever spend any cash isa money - I reckon it is cheaper to extend my mortgage or even take out a personal loan than lose the tax break forever...
    I think....
  • zimbabweborn
    thanking you my aim is long term as i want to go back to motherland. The problem being I need to invest in a nursing home and need to raise the cash for 33 per deposit
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