Nisa help

philb0y

I have got a lump some that I was thinking of put I to an nisa but I have no idea which is best nisa HELP

jimjames

Shares? Or cash?
If cash then isa might not be best option depending how much you have.

philb0y

£7000 in cash. really not sure what to do

jimjames

philb0y wrote: »

£7000 in cash. really not sure what to do

Do you want best return or least hassle?

You can get 5% taxed on £6500 of that using current accounts. Or 1.5% tax free in an ISA, the choice is yours.

Archi_Bald

What plans do you have for the £7,000?

Do you have debts?
Do you have an emergency cash fund?
Do you have a pension?
Do you have a mortgage, if so what rate, and what are the terms for overpayment?
What is your tax rate?

Archi_Bald

philb0y wrote: »

What plans do you have for the £7,000?

Do you have debts?
Do you have an emergency cash fund?
Do you have a pension?
Do you have a mortgage, if so what rate, and what are the terms for overpayment?
What is your tax rate?


I don't have anything like that

Everybody has a tax rate, from the day they get born to the day they die. So what is yours?

If you have no plans for your money, may be you could just give it to charity? Or perhaps make some plans - even if they are long term ones?

It is recommended that you have an emergency fund, so you can fund any unforeseen expenses, or the sudden loss of a job. Are you saying you haven't any of these either?

If you have no pension, now might be the time to start one. Even if you don't work, which you seem to be implying.

EDIT: oops, seems you deleted your post whilst I was replying to it.