Where is everyone putting their £5,100 on April 1st?

Geoffo_M

Jake'sGran wrote: »

Mine will go in a fund, probably Blackrock Continental European or First State
Greater China. I've gone off cash ISAs.

You've got to make a lot of capital growth to get any advantage from S&S ISAs - especially with Capital Gains so high

masonic

Geoffo_M wrote: »

You've got to make a lot of capital growth to get any advantage from S&S ISAs - especially with Capital Gains so high

What disadvantages are there with investing within an ISA wrapper?

cottager

I'm completely undecided about whether to put £5100 into a cash ISA at all this time. My problem is no 'new' money being available: I can only fund from existing savings, and it doesn't seem a fair exchange right now, but this may change a bit down the line. I'll wait, and see how it goes.

MsDee

Hi everyone,

Thanks for all the hints and tips so far - some I understand more than others:D. I am saving for my pension I am nearly 30 and have not a penny saved and want to leave my job and go self employed which means getting organised for the future. I was advised that if I can save the max each year into a cash ISA (£5,100) until I retire this would be safer than investing in private pensions that could or may go bust, thus losing everything and having no pension.

I can't seem to quote and post to all the responses in one post, so will have to do it in seperate ones.

MsDee

fatb!!!0 wrote: »

based on previous years experience - unless there is a pretty decent rate being offered I might wait a few weeks/months until the New Isa rush has ended - otherwise your £5100 can be sitting in your current account for weeks earning you diddly squat as the banks try to process all the applications. Out of season ISA applications are so much less stress!!

Last year when I put my £3,600 into nationwide they said that the interest starts from the day you open the account and that is honoured even though there may be a backlog in processing applications - why should we lose out on interest because there is backlogs cos of a lack of staff?

MsDee

DiggerUK wrote: »

Ms.Dee,
If you have no easy access rainy day fund, then look for highest paying A/C.
Beyond a ready cash A/C I see little, or no, benefit for long term cash savings in an ISA.
The former benefits of Cash ISA's have been done away with by the simple tactic of p1ss poor interest rates that are now behind inflation. May as well put all cash savings in Premium Bonds and pray.

Long term cash should be in Index Linked with National Savings, or gold. Nothing else gets close to protecting what you save.
Best of fortune.

I've just done a quick google search on National Savings - am I right in presuming that you can only get them at the post office?

Will look into it rather than gold as I don't have a clue about that, anyhow gold is so last season it is all about platinum....I'm thinking rings by the way...:D

DiggerUK

MsDee wrote: »

I've just done a quick google search on National Savings - am I right in presuming that you can only get them at the post office?

I'm sure they are available by phone with a debit card, online, or by post. Don't think they even sold them in the PO last time we went, but that is were you can get a leaflet and envelope.
Can't even remember about checks, may have been electronic.

Read this from Sunday Telegraph.
http://www.telegraph.co.uk/finance/personalfinance/savings/7448715/NSandI-Index-Linked-Savings-QandA.html

MsDee

DiggerUK wrote: »

I'm sure they are available by phone with a debit card, online, or by post. Don't think they even sold them in the PO last time we went, but that is were you can get a leaflet and envelope.
Can't even remember about checks, may have been electronic.

Read this from Sunday Telegraph.
http://www.telegraph.co.uk/finance/personalfinance/savings/7448715/NSandI-Index-Linked-Savings-QandA.html

Hi,

I've just had a little read - it says that on £10,000 invested after a year you will get rougly £300 paid in interest. So, I'm going to invest half of that £5,000 getting half the interest £150, which will roughly be the same as an ISA @ roughly 3%.

Why do you prefer these over the ISA's for long term investment and do you think they are suitable for a pension plan?

many thanks for your help and that link

cottager

MsDee wrote: »

I can't seem to quote and post to all the responses in one post, so will have to do it in seperate ones.

Use the Multi-Quote button (to the right of the blue Quote one). Click this in each message you want to quote, then the Reply button at the foot of the thread, and they'll all copy ready to edit or whatever.

Lokolo_2

MsDee wrote: »

Hi everyone,
I can't seem to quote and post to all the responses in one post, so will have to do it in seperate ones.

The button on the RIGHT of the Quote button will allow you to quote multiple replies, just press it for all the ones you want to quote, then press "Quote" on just one of them. The whole lot should appear in your reply then. HTH :j:j:T