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

innovate

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

Odd dates for all this.

where is the best place for this £15K?

karlie88

karlie88 wrote: »

Nisa should start to offer NISAs.



http://www.nisalocally.co.uk/

http://www.telegraph.co.uk/finance/personalfinance/how-budget-affect-me/10709221/Budget-2014-Martin-Lewis-new-Isas-genuine-boon-for-savers.html

Watch the video.

:rotfl:

jimjames

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?

Archi_Bald

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

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

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.

Archi_Bald

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

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

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 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.