ISA's

jojo

jojo

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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?
 
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.
 
fingermouse said:
or over pay the morgage
Click to expand...

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?
 
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.
 
jcs356 said:
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.
Click to expand...

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)
 
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
 
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.
 
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...

Cheers,
 
ChriS3 said:
It's high risk, but my opinion is that this is the best time to be buying shares - rock bottom prices.
Click to expand...

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!)
 
lil_coz said:
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!)
Click to expand...

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?!!!
 
Igdos said:
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?!!!
Click to expand...

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.
 
RBS five year share price: scary stuff! :scared2:

GetGraph.asp
 
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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