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Stocks & Shares Isa-worth it or not?
busy_b
Posts: 126 Forumite
Both myself and partner use up our Cash Isa Allowance every year and then have approx 20k in a basic savings account.
It has just occurred to me that we're not using up the other allocation of 4k in shares Isa's. (We used to add to a stocks and shares Isa monthly but it lost money and so we cancelled it).
We would not want to risk our savings and would like a very cautious fund that would perform better than our basic savings account (that is earning a mere 4% interest!)
As we require easy access to our savings, is it worth moving some accross into a stocks and shares Isa or would they be too risky?
Thank in advance for any responses..
It has just occurred to me that we're not using up the other allocation of 4k in shares Isa's. (We used to add to a stocks and shares Isa monthly but it lost money and so we cancelled it).
We would not want to risk our savings and would like a very cautious fund that would perform better than our basic savings account (that is earning a mere 4% interest!)
As we require easy access to our savings, is it worth moving some accross into a stocks and shares Isa or would they be too risky?
Thank in advance for any responses..
0
Comments
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If you need to have access to your money, then no, it's not worth it. Investments are generally for 5 years or more. If you can't effectively wave goodbye to your capital for that long, then investing is probably not for you.
Is the 4% you're getting before or after tax?I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0
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