Invest or save

Leeruddecology1

Good morning all I am investing money on a regular basis although it is a small amount. 

Here is my position. I have £50,000 premium bonds. 

I have £20,000 in cash ISS for this years allowance. 

I have about another £10,000 in chip cash prize account.

I have also been investing £250 in a stocks and shares run by CHIP. I plan to continue to put away £250 on a regular basis and I also want to max out the cash ISA again in April. 

Would you bother with the stocks and shares with such a small amount? 

Emmia

Leeruddecology1 said:

Good morning all I am investing money on a regular basis although it is a small amount. 

Here is my position. I have £50,000 premium bonds. 

I have £20,000 in cash ISS for this years allowance. 

I have about another £10,000 in chip cash prize account.

I have also been investing £250 in a stocks and shares run by CHIP. I plan to continue to put away £250 on a regular basis and I also want to max out the cash ISA again in April. 

Would you bother with the stocks and shares with such a small amount? 

With the premium bonds and the chip prize account I'd be diversifying and investing my ISA money in an S&S ISA rather than a cash ISA. I might switch round the approaches and put the £250 into the cash ISA.

Leeruddecology1

Thanks for that. I guess I have a lot of my savings in cash (premium bonds and cash isa and chip prize fund. 

Perhaps from April I could invest £20,000 into stock and shares isa. Would you drag the other £20,000 already in the cash isa into the S&S ISA? 

For some reason I wasn’t able to gain access to my account/old email address. 

Emmia

Leeruddecology1 said:

Thanks for that. I guess I have a lot of my savings in cash (premium bonds and cash isa and chip prize fund. 

Perhaps from April I could invest £20,000 into stock and shares isa. Would you drag the other £20,000 already in the cash isa into the S&S ISA? 

For some reason I wasn’t able to gain access to my account/old email address. 

It's up to you, perhaps leave the cash ISA and start funnelling the money into S&S from this year onward

Leeruddecology1

I have a flexible cash ISA…So I have just withdrawn £2,000 from my chip cash isa and re-invested that into the chip stocks and shares ISA…

Leeruddecology1

I guess what I am wondering is, where do I put my money once I have fully utilised the £20,000 in any given year. Reckon I might have an extra £5,000- £10,000 to put away each year. 

Emmia

Leeruddecology1 said:

I guess what I am wondering is, where do I put my money once I have fully utilised the £20,000 in any given year. Reckon I might have an extra £5,000- £10,000 to put away each year. 

General Investment Account (GIC) is one option (but obviously you've maxed out the tax free options).

Alternatively 

What does your pension look like? Can you do salary sacrifice at work? Or invest in a SIPP separately - you'll need to be mindful of the contribution limit of £60k 

Lord_Mattenly

Perhaps you may get more responses in the Savings and Investments section of the forum?