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Budget: £15000 ISA Limit from 01/07 for Cash OR S&S

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Comments

  • innovate
    innovate Posts: 16,217 Forumite
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    You would get away with just keeping the cash in your S&S ISA until July if you are certain you want to transfer it to a cash ISA then. Investing for just 3 months could be costly. Though of course you could strike lucky and make a profit......
  • kazwookie
    kazwookie Posts: 14,341 Forumite
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    Odd dates for all this.

    where is the best place for this £15K?
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  • karlie88
    karlie88 Posts: 9,114 Forumite
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    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • jimjames
    jimjames Posts: 18,905 Forumite
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    abarthman wrote: »
    I appreciate that the S&S ISAs could end up being worth less then I deposit, but that's a risk I would be willing to take for about 3 months.

    I don't understand why you'd be prepared to take the very high risk that your money in a S&S ISA might have dropped in 3 months but not take the much lower risk that your money is there after 5 years or more.

    Surely keeping it in a S&S ISA long term would make much more sense?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    kazwookie wrote: »
    where is the best place for this £15K?
    For all basic rate tax payers, it's in current accounts until early April 2015.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    jimjames wrote: »
    I don't understand why you'd be prepared to take the very high risk that your money in a S&S ISA might have dropped in 3 months but not take the much lower risk that your money is there after 5 years or more.

    Surely keeping it in a S&S ISA long term would make much more sense?

    Not if you need the cash in the next 12-18 months, or sometime this side of 5 years.
  • jimjames
    jimjames Posts: 18,905 Forumite
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    Archi_Bald wrote: »
    Not if you need the cash in the next 12-18 months, or sometime this side of 5 years.

    Indeed. But in that case why would you risk it for 3 months. You could lose 30% or more in that time.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    You and I wouldn't. We would just deposit the cash and let it sit there until July, then transfer it. If indeed we thought the cash ISA would be the best place for the money.
  • bob_100
    bob_100 Posts: 33 Forumite
    I'm in a similar position to abarthman in that i have maxed out my cash isa and was wondering which is the best S&S ISA to put my money in, without any fees when i come to convert this into a cash isa in July. I have read the Telegraph article which states to put it in a deposit account. I'd appreciate any help or suggestions on where to keep my money in a S&S ISA.

    Thanks
  • badger09
    badger09 Posts: 11,696 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    bob_100 wrote: »
    I'm in a similar position to abarthman in that i have maxed out my cash isa and was wondering which is the best S&S ISA to put my money in, without any fees when i come to convert this into a cash isa in July. I have read the Telegraph article which states to put it in a deposit account. I'd appreciate any help or suggestions on where to keep my money in a S&S ISA.

    Thanks

    Sorry if I'm missing something, but why would you want to put money into an S&S ISA for 3 or 4 months :o What if the market drops 20% or so between now and July :eek:

    Just keep your cash -if that's what you want to save in -in a current or savings account until July & pay into your cash ISA then.
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