We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Best place(s) to stick £35-40k
rathernot
Posts: 339 Forumite
I have a lump sum that's sitting in an account earning 4.4%.
I want to have instant access should I need it.
I don't envisage dipping into it frequently so would be prepared to consider having a penalty for access.
Also I don't currently have an ISA and it's that time of year where I should open one to take advantage of the 2006-2007 allowance.
If I understand correctly I could dump £3k into a cash ISA and it's safe. The best deal appears to be ING direct who offer 6%, though I've never heard of them?
I could dump £7k into a "maxi stocks and shares ISA" but where the hell do you begin?!
When I look on Moneyextra they don't quote interest rates on Stocks and Shares ISA's they simply state "% performance over 3 years" and I'm not clear what that means?
Because I want instant access I believe it's not the sort of amount that an IFA will be interested in, my understanding is that the best bet is going to be a combination of a high interest savings account (Alliance and Leicester at 5.8%?) and some sort of ISA?
TIA.
I want to have instant access should I need it.
I don't envisage dipping into it frequently so would be prepared to consider having a penalty for access.
Also I don't currently have an ISA and it's that time of year where I should open one to take advantage of the 2006-2007 allowance.
If I understand correctly I could dump £3k into a cash ISA and it's safe. The best deal appears to be ING direct who offer 6%, though I've never heard of them?
I could dump £7k into a "maxi stocks and shares ISA" but where the hell do you begin?!
When I look on Moneyextra they don't quote interest rates on Stocks and Shares ISA's they simply state "% performance over 3 years" and I'm not clear what that means?
Because I want instant access I believe it's not the sort of amount that an IFA will be interested in, my understanding is that the best bet is going to be a combination of a high interest savings account (Alliance and Leicester at 5.8%?) and some sort of ISA?
TIA.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards