Cash ISA - What's your thoughts?

family4tunes

Hi guys,

Thanks for all the heads-up and info. Just for clarity on one of my questions (Q3) I was just wondering if there was any other way to invest money similar to a Cash ISA or the likes that would be pay reasonable interest without having too much running costs or having a risk factor that may be low. The Cash ISA I have is great for my £20k as it gives 5.17%. To be honest I was just looking if there are other ways to invest or save that I might do better or equal that I am not aware of, but you guys & dolls are. TIA

eskbanker

family4tunes said:

Just for clarity on one of my questions (Q3) I was just wondering if there was any other way to invest money similar to a Cash ISA or the likes that would be pay reasonable interest without having too much running costs or having a risk factor that may be low. The Cash ISA I have is great for my £20k as it gives 5.17%. To be honest I was just looking if there are other ways to invest or save that I might do better or equal that I am not aware of, but you guys & dolls are.

As mentioned earlier, it depends on what you're trying to achieve, i.e. what's the money for, in terms of when it's likely to be needed?

If you're likely to need access within, say, five years, then saving in cash deposit accounts, such as cash ISAs, is likely to be best.

If it's retirement money (we don't know how far off that is!), then pension contributions are probably worth considering.

In between those extremes, investing, e.g. in a S&S ISA, would be an avenue warranting further examination....

Eyeful

PixelPound said:

low risk or no risk? Cash ISA is no risk, but there will be some S&S ISAs that use trackers and considered low risk.

With money there is always risk involved, It's the type and size of risk that may be different & can change.

jimjames

family4tunes said:

Hi guys,

Thanks for all the heads-up and info. Just for clarity on one of my questions (Q3) I was just wondering if there was any other way to invest money similar to a Cash ISA or the likes that would be pay reasonable interest without having too much running costs or having a risk factor that may be low. The Cash ISA I have is great for my £20k as it gives 5.17%. To be honest I was just looking if there are other ways to invest or save that I might do better or equal that I am not aware of, but you guys & dolls are. TIA

Savings accounts, best rates here https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/