If I don't need the money, should I definitely Fix?

EnglishTutor

boingy said:

EnglishTutor said:

eskbanker said:

EnglishTutor said:

Thanks for the advice.  I think given that I don't need the money and given the current state of the markets, maybe a Stocks & Shares ISA makes more sense.  Been looking at Vanguard Lifetime 60% Accumulation

That was quite a jump from relative benefits of fixed v variable cash ISAs to deciding that investing is a better fit for your requirements!  Investing does entail a different mindset and risk profile and would generally warrant more research - the product you refer to is actually LifeStrategy for example....

I may be new to investing, but I'm a quick learner 😀

As mentioned, I really don't need the money to fund day to day costs and also have my 6 figure rainy day fund, so I thought, why not dip my toe into the markets, given their current levels, and invest in some ETFs.

6 figures is one heck of a rainy day fund! Everyone has different needs and living standards but you might want to consider locking some of that away in longer term investments like pension and S&S ISAs. 

Yes, you're right I have too much cash, that's why I'm trying to sensibly invest it.  I'm already drawing my private pension that covers my living costs and later this year I'll be eligible for my state pension, as well as having my YT business income.

stulaunch

My thinking this year is, 3 months at 5.6%, 9 months at poossibly 4%, as I see a couple of .25% cuts is probably similar to 12 months at 4.5% on a fix. Plus you have more flexability with easy access ISA