Investing £17k

Eggbertyone

Over the passed 15 yrs, I've invested 17k in an ISA...I now have £17k (I've actually swapped the ISA once and made no money at all.
I am going to cash in.
What is the best thing to do with the £17k to make more money
I know its not that much but it's what I have and I can invest £130 ish per month
I need to be able to access this money at a few weeks notice for emergencies etc

Bring on the suggestions please
Thanks in anticipation
Steve

Linton

If it's to cover emergencies it would be best held in cash. At the moment the best cash rates are from the various deals available on current accounts. If you want to invest in shares or funds you should hold such investments for the long term separate from the money you may need for immediate access. Only in this way can you ensure the long timescales needed for investments to work with some level of security.

Not making any money over the past 15 years is not very good - how did you manage it?

bowlhead99

Are you likely to have many emergencies, periods of unemployment etc that need all of the £17k to be available? Of just dipping into the last £7k of it while the first £10k could be invested for ten years or more? What about the new £130 per month going in - does that all need to be instantly accessible as well?

For instant access, put the whole £17k in a Santander 1-2-3 current account and earn 3% a year on all of it. That is certainly better than earning nothing at all for fifteen years, if your story is somehow true.

If you don't need instant access on more than £17k of it, put the £17k into the Santander account for short term safekeeping and put the spare £130 each month into an ISA investment plan with a fund manager (e.g. http://www.invtrusts.co.uk/aam.nsf/investmenttrusts/investoverview) or a direct debit regular investment ISA with a fund supermarket or stockbroker (e.g. https://www.charles-stanley-direct.co.uk/Products_And_Services/Range_of_Accounts/ISA)

Problem solved

Eggbertyone

I invested as advised by financial advisers
Would have been better in a box under the bed

Eggbertyone

From jan 2000 I invested £80 pm for 8yrs it was unsatisfactory so I changed isas then £125pm for 7yrs total 17,5k invested ISAS value 17.5k

Thanks financial advisers

InsertWittyName

Eggbertyone wrote: »

From jan 2000 I invested 125 per month in an high risk ISA to pay off my mortgage
It was unsatisfactory so I moved to a similar ISA through sterling and I now have £17
It's worse than keeping it in a box!!
Thanks financial advisers

Emphasis mine.

ktk

Don't cash in the ISA if you don't need the money right now. Transfer it to a better rate ( there is an up to date list in the ISA sub forum ). If you are happy to tie it up for a longer time, transfer it to a S&S ISA and purchase managed funds. If you cash it in now you will lose the tax free status that the money has and you can't then put it all in a new ISA.

Eggbertyone

Indeed, I take your point and realise entirely the risks involved etc however I still feel entitled to be disgruntled!!! Having invested for "so long" with no gain im not sure about leaving it there longer...I know it's long term investment but seems really bad...I'm not great at mortgages n money etc but what I do know I do well!!

ktk

I'm not saying leave it where it is, transfer it to another ISA. If you would like to invest it, as per your title, you could open an account with someone like Charles Stanley Direct, then get them to transfer your ISA to them. You could then buy something like Vangard Lifestrategy or Legal and General multi, which are managed funds so you don't have to do anything. However, you do need to leave it alone for ten years or more.

badger09

Eggbertyone wrote: »

Indeed, I take your point and realise entirely the risks involved etc however I still feel entitled to be disgruntled!!! Having invested for "so long" with no gain im not sure about leaving it there longer...I know it's long term investment but seems really bad...I'm not great at mortgages n money etc but what I do know I do well!!

I would be genuinely interested to know precisely what you invested in between 2000 and 2007, and between 2007 and 2014 which have performed so badly.

You do realise there was a global financial crisis which began in 2007:cool:

System

badger09 wrote: »

I would be genuinely interested to know precisely what you invested in between 2000 and 2007, and between 2007 and 2014 which have performed so badly.

You do realise there was a global financial crisis which began in 2007:cool:

Manek Growth??