S+S ISA for a newbie

Crag30

I've got a cash ISA, but I keep reading about S+S ISA's.

I'm in full time employment, with little time on my hands. I've got £1000 to put into a S+S ISA and will want to add maybe £50 a month, at the same time I will be adding to the cash ISA too.

I do not have any plans for the S+S Isa, only to let it grow. If I need to make any withdrawals then I could do that with the cash ISA

Just looking for suggestions

AlanP_2

S&S savings are best for time horizons of 10+ years so as long as you aren't going to need the money at the drop of a hat then sounds sensible.

It doesn't sound like you want to spend hours trawling through stuff to make a decision on what to invest in but do some basic research first.

Monevator website is worth looking at, particularly the Passive / Tracker approach that they discuss a lot (choose a few funds, put money in, check once/twice a year to rebalance to original chosen percentage allocations).

Various portfolio / fund type choices are discussed on there and they run a pretend "lazy fund portfolio" that will give you some ideas.

Given £1k and £50 pm I would suggest you limit it to 1 or 2 funds as spreading £50 across 6 or so funds is pretty pointless.

If you want one "fire & forget" option look at the Vanguard LifeStrategy and L&G Multi options where you invest in a single fund and they allocate it across a number of geographic areas and investment types via a set of underlying investment funds.

xylophone

at the same time I will be adding to the cash ISA too.

Might not be the best idea with rates so low at the moment.

had you thought of using current accounts, even if you switched to ISA at the end of the year?

For the stocks and shares ISA, Cavendish might suit.

http://www.cavendishonline.co.uk/investments/

You might start with a Tracker.

http://www.thisismoney.co.uk/money/investing/article-1583915/A-guide-cheapest-index-tracker-funds.html

Crag30

Thanks for the replies. I Don't mind some research, but it's knowing where to start researching, and your answers have helped a lot with this.
I could do without too much maintenance once I've invested, although I know I'll need to spend some time to keep tabs on things.
I was just wanting something to invest in that I don't intend dipping into