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What would you do?
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ljcpdc
Posts: 35 Forumite
I need some advice please....
I did have over £30k in savings but have lost most of this in an attempt to make a baby unsuccessfully through necessary fertility treatments.
As a result I have now only got £6k which is currently tied up with no easy access but no penalties for withdrawing. I am happy to withdraw these funds so I can have it for emergencies only & do have the willpower not to spend it but don't know where to put it.
Am I right in assuming an ISA is the best way forward initally but I should not put into shares as I can't afford to lose the funds? I currently have a 1st Direct Reg Saver account @ 8% plus a minimal amount in Icesave.
Any advice would be very much appreciated.
I did have over £30k in savings but have lost most of this in an attempt to make a baby unsuccessfully through necessary fertility treatments.
As a result I have now only got £6k which is currently tied up with no easy access but no penalties for withdrawing. I am happy to withdraw these funds so I can have it for emergencies only & do have the willpower not to spend it but don't know where to put it.
Am I right in assuming an ISA is the best way forward initally but I should not put into shares as I can't afford to lose the funds? I currently have a 1st Direct Reg Saver account @ 8% plus a minimal amount in Icesave.
Any advice would be very much appreciated.
0
Comments
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My vote would go with the ISA, it's tax free so what ever rate you get on it is equivalent to 20% more in a regular savings account as a basic taxpayer. You could have it all in an ISA by April if you wanted, using this years £3000 allowance before April 6th, and next years £3600 after April 6th.Hope for the best.....Plan for the worst!
"Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown0 -
ISA too.. tax free.. x
BSC Member 155 :cool:0
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