Share ISA

lou-28_2

I invested £2,500 in a shares ISA back in 2001 and it is now worth £5,277. I'm thinking perhaps to move it out of there now into a risk free normal ISA as at one point it was only worth £1,900.

I'm no expert in the stock market but I can't see the worth of it going much higher than what it is now unless there happens to be a big boom!

I don't NEED to access the money now but while its good I'd like to keep it that way especially as I'll want to use some of it in the summer towards a garage conversion.

Does anyone have any advice as to whether I should take it out of shares.

Thanks

grizzly1911

How much are you dependant on for your garage conversion?

No one has got a crystal ball and only you can decide if you need to crystallise those gains and put them into cash. If this investment were to dip before the summer do you have other funds you could use?

You can't transfer from a s&s ISA directly into a cash ISA. You would need to sell then open a cash ISA, providing you haven't already done so, for this tax year.

jimjames

lou-28 wrote: »

I'm no expert in the stock market but I can't see the worth of it going much higher than what it is now unless there happens to be a big boom!

Yes that's right. It won't go higher unless there is a boom but no-one knows that. Or it could just go higher gradually over time. Again no-one knows. But the chances are it will go higher over time - I assume you are referring to the FTSE by "it" by the way - different markets do react differently.

An ISA isn't an investment in itself - it is a wrapper that you buy investments inside to keep them tax free. So it would help to know what investments you actually have?

kidmugsy

Shares are the wrong way to store money for an expenditure that's only months away. As a compromise, you could sell the shares but leave the money within the S&S ISA pro tem, just in case you change your mind.