Fed up of low isa rates

rockingdane

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

ColdIron

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?

p00hsticks

ColdIron wrote: »

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.

The OP's money is already in a cash ISA - can he not simply transfer the whole balance to a S&S ISA ?

masonic

ColdIron wrote: »

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?

The money is already in an ISA so it can be transferred.

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.

rockingdane

I can leave it for at least 5 years as I have savings if needed...not sure about 10 as the future is uncertain..
Dane

Thrugelmir

Better interest rates maybe available outside of an ISA. Even allowing for tax.

ColdIron

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 ?

masonic wrote: »

The money is already in an ISA so it can be transferred.

Oops, senior moment

staffie1

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..
Dane

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!