ISA - What to do

klew356 · 15 October 2019 at 1:12PM

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:

eskbanker · 15 October 2019 at 1:17PM

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....

klew356 · 15 October 2019 at 2:46PM

eskbanker wrote: »

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....

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.
I will check out that link to the savings account as I like to keep my options open

ISA - What to do

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