NISA query

kuepper

thanks trickydicky14, confirmed that with them tonight on the phone but it contradicts what i was told monday on the phone and today by secure message!

its just a balancing act now between keeping the £9060 in my 123 a/c at 2.4% net or putting it in isa at 2.3%

bigfreddiel

kuepper wrote: »

I've been burnt before with stocks and shares so won't touch them, it just seems wrong i can't pay £9060 into a new NISA

How did you get burnt - did you panic when your portfolio dropped in value? That is where people go wrong - a drop in value is a buying opportunity. It's like the market is having a sale sometimes a 20% sale for you to fill your booted. But that's when people get scared and sell thus crystallising a loss. Stocks and shares will always beat savings in the long term ie 5+yrs min

And don't try to beat the market - no one can - not even the 'experts' so stick with low cost trackers preferably etf's

Say hello to your first £100k in just a few years

Cheers

fj

jimjames

bigfreddiel wrote: »

How did you get burnt - did you panic when your portfolio dropped in value? That is where people go wrong - a drop in value is a buying opportunity. It's like the market is having a sale sometimes a 20% sale for you to fill your booted. But that's when people get scared and sell thus crystallising a loss. Stocks and shares will always beat savings in the long term ie 5+yrs min

And don't try to beat the market - no one can - not even the 'experts' so stick with low cost trackers preferably etf's

Say hello to your first £100k in just a few years

Cheers

fj

It does puzzle me when I hear "got burnt with shares" quotes. Maybe someone bought shares in a single company that went bust - but that isn't sensible investing and as they've found is very high risk. Surely that is how you learn and then don't make the same mistakes again. If it was panicking and selling when the market had dropped then again it's a learning experience.

Buy and long term hold and you can end up with money like this - all for someone with a very ordinary job.

http://www.dailymail.co.uk/news/article-2677999/Pensioner-lived-70-000-council-house-leaves-1-2MILLION-charity-carefully-saving-40-years-Merchant-Navy.html

jimjames

kuepper wrote: »

thanks trickydicky14, confirmed that with them tonight on the phone but it contradicts what i was told monday on the phone and today by secure message!

its just a balancing act now between keeping the £9060 in my 123 a/c at 2.4% net or putting it in isa at 2.3%

Have you already filled the 5% accounts?