ISA what should I do with my money??

Bigguy201_2

Hello everyone, long term follower, first time poster. I currently have just over £33,000 in a cash ISA earning 3.25% on a 13 month fixed term with Kent Reliance BS. I have build my ISA up since 2004, what I am wondering is should I leave it in an ISA or would there be a more effective way of making my money work for me??

Currently earning £13k pa, no debts, living at home.

Any advice would be really useful, thanks

redmalc

Hi 3,25% is a good rate,the main issue you have to decide is whether you want to enter the Stocks and shares isa, which is somewhat risky at the moment,i can tell you at one stage last year i was down 17k on a 100K pot.
Another alternative is to look at three/four or a five year tie in cash Isa,again the risk is the interest rate goes up,but this is the crystal ball or hindsight industry and if we knew what was going to happen we would all be very rich,it may be prudent to split cash and shares
I am sorry but no one can give you any guides,it is your decision

Elton

Spend it on hot chicks and fast livin'. You only live once.

Alternatively you might consider putting a small part of it in high yielding shares such as Vodafone.

innovate

I would think long and hard whether I'd give up the tax-free wrapper that you have now. Shop about for another cash ISA - check out Martin's writeup about best cash ISAs.

atush

What is the money for? Somthing in the next 5 years? Something in 10 yrs+? Emergencies?

I would keep anything you need in the nest 3-5 yrs in cash, and put the rest into equities. Times like now can actually be good ones to invest in, as buying when prices fall is better than buying at the top.

Not sure about moving any of it though, I might suggest that future savings be drip fed into an S&S ISA. Esp if you think you will need the 33K sooner rather than later for a deposit for example.

ermine

think long and hard whether I'd give up the tax-free wrapper that you have now.

You can transfer a cash ISA to fund a S&S ISA without losing tax-free status, though not the other way round, in case you were thinking of going the S&S route for some of it