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ISA or not?
Mrs_Moneywalker
Posts: 1 Newbie
My employment finished end July 2007 and I shall reach retirement age (60) at end April 2008. I would like to know if it would be worthwhile for me to put £3000 into a mini ISA.
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Comments
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The immediate tax benefits of an ISA are most noticed if you are above the current tax threshold, as you'd avoid tax on the interest then. However, I am below that threshold and still find ISAs to be a valid way of saving.
It depends what else you'd do with the cash, and what your other income is?Debbie0 -
From what I've seen on here, most of the best ISAs are at a higher AER than the best savings accounts even before you take away the tax, so yes, I'd say they're worth it even outside the income tax threshold.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0
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