£5k medium term saving options please

MrMajic

Hi

I've not really ever kept much money in the bank as such, other than the odd ISA in the past, but want to put around £5k into an investment that would allow reasonably quick access (say, 3 months notice) with a return. The purpose of the money is to be there as a backup for a short period if work dried up.

Is a plain ISA the best bet? I'd like a little more risk/opportunity and was considering a Stocks and Shares ISA, which I think is the same sort of thing as a standard ISA? Are there any "off the shelf" S&S ISAS, or do I need to do the trading.

Thanks

Mark

Cautious_Investor_3

Hi

If you think you may need access in the short term, I'd suggest that is less than five years, you really should consider only deposit based ISAs. Adding risk into the ISA by buying equity funds will lead to volatility and it is possible that when you need to access funds prices are down and you have to cash in at a loss.

I hope this helps.

The Cautious Investor

MrMajic

Cautious_Investor wrote: »

Hi

If you think you may need access in the short term, I'd suggest that is less than five years, you really should consider only deposit based ISAs. Adding risk into the ISA by buying equity funds will lead to volatility and it is possible that when you need to access funds prices are down and you have to cash in at a loss.

I hope this helps.

The Cautious Investor

Thanks, it's just the rates are so un-appealing, but then, that's risk vs reward I suppose.

Mark