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Fed up of low isa rates
rockingdane
Posts: 34 Forumite
Hi,
I am a dentist and have 42k rotting in my account in a Lloyds cash isa.I am getting v low rates but feel it is time to wake up.
1. I don't think I ll need the money for a while .a few years
2. Risk tolerance is medium
Plan to either open an isa with vanguard and stick with vls60 or a tracker somewhere...
What do you think? Any suggestions
Dane
I am a dentist and have 42k rotting in my account in a Lloyds cash isa.I am getting v low rates but feel it is time to wake up.
1. I don't think I ll need the money for a while .a few years
2. Risk tolerance is medium
Plan to either open an isa with vanguard and stick with vls60 or a tracker somewhere...
What do you think? Any suggestions
Dane
0
Comments
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You can only put £20k into an ISA per financial year so maybe open an unwrapped account in addition for the balance and Bed & ISA every year. A 100% equities tracker is a very different risk profile to VLS 60% equities, you need to pin this down. Does 'a few years' translate to 2 or 3 or more?0
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The money is already in an ISA so it can be transferred.You can only put £20k into an ISA per financial year so maybe open an unwrapped account in addition for the balance and Bed & ISA every year. A 100% equities tracker is a very different risk profile to VLS 60% equities, you need to pin this down. Does 'a few years' translate to 2 or 3 or more?
But as you say, "a few" years doesn't sound like a timeframe sufficient for investing in something like VLS 60, where it would normally be recommended to hold for a minimum of 10 years.0 -
I can leave it for at least 5 years as I have savings if needed...not sure about 10 as the future is uncertain..
Dane0 -
Better interest rates maybe available outside of an ISA. Even allowing for tax.0
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p00hsticks wrote: »The OP's money is already in a cash ISA - can he not simply transfer the whole balance to a S&S ISA ?
Oops, senior momentThe money is already in an ISA so it can be transferred.
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Leave it 10 years. The one thing certain about the future is that it will be uncertain. Always has been. We’ve been in tighter spots than this!rockingdane wrote: »I can leave it for at least 5 years as I have savings if needed...not sure about 10 as the future is uncertain..
DaneIf you will the end, you must will the means.0
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