New ISA allowance - what are you doing with it?
I'll have to wait until next April before I receive the increased allowance as I'm not yet 50 years old.
However, I have placed this year's entire allowance into a Stocks and Shares ISA and will be continuing to do so in the future.
I helped my Father choose a Stocks and Shares ISA a fortnight ago and it's up by over five percent already - which is more than most providers are paying for an entire year on Cash ISAs.
Over the long term, Cash ISAs simply keep up with inflation. They're not low risk for nothing.
Sat, 10/10/2009 - 16:42
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I cannot find a cash ISA which will give me more than 2.60% net and as I get 3.25% gross on building society savings there is no point in buying a cash ISA at the moment. Fortunately, however, I already have a wad of stocks and shares where the dividends are taxed so I am moving £5,200 worth into a stocks and shares ISA. This gives savings not only on income tax but also capital gains.
Tue, 27/10/2009 - 20:27
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Vote now on our poll
From 6 October 2009, everyone born on or before 5 April 1960 will be able to save an additional £3,000 in an ISA.
A recent Moneywise poll found that 55% of users will be investing their additional allowance in a cash ISA, while 17% will invest it in a stocks and shares ISA and a further 12% will invest in a mixture of both.
The remaining 16% will not invest their new allowance at all.
In this forum, Moneywise wants to hear from you on exactly what you'll be doing with your allowance - is there a particular cash ISA rate you've got your eye on, or a stocks and shares opportunity you want to take advantage of?