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ISA - What to do
klew356
Posts: 1,130 Forumite
Hello everyone,
I have just successfully used a HTB ISA to buy my first home, I now have a bog standard savings account and no ISA, I have a work based pension. I am now keen to start saving again for the future, I don’t think I am keen to use an LISA, what if I need the money and I loose 25%.
I was just hoping if there were kind people out there that could give me an idea of what to go for next?
:money:
I have just successfully used a HTB ISA to buy my first home, I now have a bog standard savings account and no ISA, I have a work based pension. I am now keen to start saving again for the future, I don’t think I am keen to use an LISA, what if I need the money and I loose 25%.
I was just hoping if there were kind people out there that could give me an idea of what to go for next?
:money:
0
Comments
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How far in the future are you saving for?
It may make sense to increase pension contributions for example.
If you're happy to lock up the money for 5-10 years or more, consider investing, via a S&S ISA.
For shorter periods, or if you do want to keep your options open (as implied) then stick to saving: https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/
Cash ISAs may be part of the answer but probably not worth seeing them as automatically the right thing to do....0 -
Thank you for your reply, i have increased the contribution already and I was looking to increase it again in April but because I have only just purchased the house I want to see how its going with payments etc before I committed to anymore.How far in the future are you saving for?
It may make sense to increase pension contributions for example.
If you're happy to lock up the money for 5-10 years or more, consider investing, via a S&S ISA.
For shorter periods, or if you do want to keep your options open (as implied) then stick to saving: https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/
Cash ISAs may be part of the answer but probably not worth seeing them as automatically the right thing to do....
I will check out that link to the savings account as I like to keep my options open0
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