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Thread: ISA's

  1. #1
    jojo's Avatar
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    ISA's

    With interest rates at rock bottom, is it still worth putting a lump of money into your ISA's at this moment in time?
    It's still tax free interest at the end of the day right?



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  3. #2
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    Still tax free.

    Makes sense longer term because if and when interest rates go up the money that you put away now will earn that increased rate of interest without the taxman getting his hands on it.
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    or over pay the morgage
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    Quote Originally Posted by fingermouse View Post
    or over pay the morgage
    I'm in the fortunate position of not having a morgage on my house, but I do have a business loan on flexible interest rate, so the lower rates are saving me loads at the moment.
    I also don't have a pension fund neither, which is why I've invested in an ISA as a sort of pension for my futures sake. So I guess I will be topping the ISA up then with any spare cash... some interest is better than no interest huh?



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    I've opened a Barclays Golden ISA and put the full 3600. It is 3.61% at the moment, all tax free as you say Joe. If you've already got a Barclays account you can open one on-line.

    Overpaying the mortgage is also good if your mortgage rate is still high.
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    Quote Originally Posted by jcs356 View Post
    I've opened a Barclays Golden ISA and put the full 3600. It is 3.61% at the moment, all tax free as you say Joe. If you've already got a Barclays account you can open one on-line.
    I already have an ISA a/c, just wondering if there are better options than to lump it all in my ISA with the lower interest rates, I don't think the rate I'm getting is far off your with Coventry Building Society.(or just 'Coventry' as it's know these days)



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    I moved all my money out of my isa and put it in a self select shares isa. picked a few shares that I had been watching and I am already up over 1000. not bad for a 3k investment in 2 months. its earned me more that than my isa earned me since setting it up

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    We have just transfered 10k from our normal ISA to our investment ISA, as the way i see it the market is as low as it will be for a few years and it should out prefrom the normal ones.
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    My PEP untouched from 1996 which had 6k back then was doing splendid (~12k) until last year. Now it's back down to 7k.

    Always the risk with anything stocks based rather than guaranteed rate...

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    It's high risk, but my opinion is that this is the best time to be buying shares - rock bottom prices.
    [/sarcasm]

  12. #11
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    Quote Originally Posted by ChriS3 View Post
    It's high risk, but my opinion is that this is the best time to be buying shares - rock bottom prices.
    Spot on! When it comes to buying shares like this, its always long term. Bank shares are probably the ones to get now.

    I opened up an ISA just before things went sour. I fixed it for 2 years at 6.0% gross. No more than a week or 2 later, they were offering about half that. It's all about the timing. And the time is right to buy shares (as long as the company doesn't go under!)
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    Quote Originally Posted by lil_coz View Post
    Spot on! When it comes to buying shares like this, its always long term. Bank shares are probably the ones to get now.

    I opened up an ISA just before things went sour. I fixed it for 2 years at 6.0% gross. No more than a week or 2 later, they were offering about half that. It's all about the timing. And the time is right to buy shares (as long as the company doesn't go under!)
    Yes agree with this - RBS still around 40 pence a share and govt. backed, could be a good time to step in, can only start going up, surely?!!!
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    Quote Originally Posted by Igdos View Post
    Yes agree with this - RBS still around 40 pence a share and govt. backed, could be a good time to step in, can only start going up, surely?!!!
    Exactly. Their shares used to be up to about 45 weren't they? As has been said. It is risky... but I can't see RBS going under.
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  15. #14
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    RBS five year share price: scary stuff!

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  16. #15
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    Now thats a nose dive and a half! I bet the ones that were right at the top and found themselves rock bottom were sick as parrots!
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