Restrictive ISA rules for those with over £85k

Albermarle

Both my wife and I have built up our ISA pots over quite a few years. Currently we have circa £350,000 cash each in a Stocks and Shares ISA. Ideally we would now like to switch all of those funds into a fixed Cash ISA and get a circa 5% risk free return

I would say this is a pretty major financial decision ( £700K ) , which could well impact negatively on your future finances.

Do you really feel experienced enough in this area and have done enough research, to be sure that what you are planning to do is in your best interest?

lskywalker

Thanks for the responses. Much appreciated. I completely misunderstood what I’d read then. Good news!

Stocks and Shares ISA has been superb for us over the last 10 years but market feels risky to me now so the certainty of a 5% return for a year will do me nicely whilst I see how the stock market plays out. 

Thanks again all. 

dunstonh

Stocks and Shares ISA has been superb for us over the last 10 years but market feels risky to me now so the certainty of a 5% return for a year will do me nicely whilst I see how the stock market plays out. 

The last 5 years of the 10 haven't been that good.  Its been the volatile part of the cycle.    You may wish to look back at what historically happens after a bad period in the markets.

If your investments are multi-asset then you most of the recent negativity hasn't been with equities but with gilts and bonds.  hence the earlier comment about replacing that part of your portfolio with cash (whilst interest rates are higher) but leaving the equities in place.   i.e. creating an effecitve multi-asset portfolio but using cash and equities instead of gilts/bonds and equities..