How to move money from cash ISA into the stock market

Swipe

I have a large amount, and more ISA transfers in progress. I'm drip feeding £1000 or £500 a day and then, if there's a significant drop over a couple of days, such as last week, I'll bump it up to £15k a day or so until it rises again. Looking back, if I'd just put it all in when my first ISA transfer completed I'd be up much more than I am at the moment with the last month's rises, but who knows what will happen over the next 6 months?

HappyHarry

FinancialIdiot sai

The objective for the money would be growth over maybe 10-15 years to help fund retirement.

Have you considered moving some of it to a pension to get additional tax relief?

FinancialIdiot

HappyHarry said:

FinancialIdiot sai

The objective for the money would be growth over maybe 10-15 years to help fund retirement.

Have you considered moving some of it to a pension to get additional tax relief?

Yes, I am planning to put money into a personal pension as well. I've no pensionable pay at present and am planning to put in only as much as I'll get tax relief on so it's only a limited amount I can put into a pension.

FinancialIdiot

Sorry - I've got a further question following on from earlier replies.

I'm now thinking of putting about half the money into a Vanguard S&S ISA (VLS60 ?) and then (in a month or two?) the other half into a similar low-cost S&S ISA with a different provider, maybe one with less of a UK bias (so maybe £16000 with each provider). Does this sound sensible or would there be benefits to putting it all into the same ISA? Could anyone suggest suitable S&S ISAs to use for the second one? Thanks.

Swipe

FinancialIdiot said:

Sorry - I've got a further question following on from earlier replies.

I'm now thinking of putting about half the money into a Vanguard S&S ISA (VLS60 ?) and then (in a month or two?) the other half into a similar low-cost S&S ISA with a different provider, maybe one with less of a UK bias (so maybe £16000 with each provider). Does this sound sensible or would there be benefits to putting it all into the same ISA? Could anyone suggest suitable S&S ISAs to use for the second one? Thanks.

You don't need to necessarily add another provider, you could choose a different less UK weighted fund and a bond fund (in the correct proportions to match your risk level) to accompany it.

FinancialIdiot

Swipe said:

You don't need to necessarily add another provider, you could choose a different less UK weighted fund and a bond fund (in the correct proportions to match your risk level) to accompany it.

Might be slightly difficult for me as I'm a complete beginner. Would this involve me having to make a judgement about specific indices to track? I might need something equivalent to one of the LifeStrategy funds - i.e. designed to make any difficult decisions for me (so I just choose risk level/ proportion of stocks to bonds). Was assuming that other providers would have their own equivalents of the VLS funds.

moneyfoolish

From the Cash ISA frying pan into the S&S ISA fire!

eskbanker

moneyfoolish said:

From the Cash ISA frying pan into the S&S ISA fire!

Someone calling themselves foolish making a nonsensical observation to someone calling themselves an idiot, let's hear it for the blind leading the blind....

moneyfoolish

eskbanker said:

moneyfoolish said:

From the Cash ISA frying pan into the S&S ISA fire!

Someone calling themselves foolish making a nonsensical observation to someone calling themselves an idiot, let's hear it for the blind leading the blind....

A mere quip but there's absolutely no doubt that puttiung money in a cash ISA at this time returns a pittance and my belief is that the stock market is headed for a very large fall so I don't see anything too nonsensical in those observations.

Swipe

moneyfoolish said:

eskbanker said:

moneyfoolish said:

From the Cash ISA frying pan into the S&S ISA fire!

Someone calling themselves foolish making a nonsensical observation to someone calling themselves an idiot, let's hear it for the blind leading the blind....

my belief is that the stock market is headed for a very large fall so I don't see anything too nonsensical in those observations.

In other words, a perfect buying opportunity if/when it happens.