I've just put a wodge into a Virgin Money Savings Account. As we might need it in the next 12 months I couldn't go for any fixed term deals. The VM one is 0.5% but that goes down to 0.35% towards the end of April. Not likely to get any champagne corks popping but (marginally) better than nowt
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Alternative to savings account?
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Originally posted by Lance View Post
don't sell your loans. Bad idea.
Just let the income drip out.
Similar with any form of non-cash investment though. Stocks and shares still need to be sold. If you need to withdraw the cash at any time, then 1% is very good rate. Better off drawing down equity in your house if you need cash than selling investments.
I've had a ropey S&S ISA for 15 years and it's just about broken even, and if I do anything with it I'll lose even more money.
Stocks and shares just seems like 'jam tomorrow' to me."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Originally posted by HoofHearted View PostI've just put a wodge into a Virgin Money Savings Account. As we might need it in the next 12 months I couldn't go for any fixed term deals. The VM one is 0.5% but that goes down to 0.35% towards the end of April. Not likely to get any champagne corks popping but (marginally) better than nowtComment
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Originally posted by cojak View Post
I've researched S&S ISAs and know where and how I'm going to invest my money but this is the bit I still don't understand. You put money into S&S, but how the hell do you get it out?
I've had a ropey S&S ISA for 15 years and it's just about broken even, and if I do anything with it I'll lose even more money.
Stocks and shares just seems like 'jam tomorrow' to me.
Stocks and shares are almost by definition, jam tomorrow.
I'm of the firm belief that for most financial advisors, when a client comes to them with an average risk appetite with some money they don't need for at least 5 years, they would be discharging their fiduciary duty best by writing the following on a post-it note then showing them the door...- Vanguard.co.uk
- lifestrategy funds
- auto invest
- keep your password safe
- look again in 20 years
I just wish someone had written that to me 20 years ago, or I just wish I'd found Morgan Housel:
https://www.collaborativefund.com/bl...show-on-earth/
Regarding getting your money out - you just sell the underlying holdings through the providers website then either keep as cash within the ISA wrapper should you wish to invest it in something else, or take it out completely (and forgo the tax advantages)Comment
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And bizarrely, that's exactly what I've done (and for 5 years as well).
I figured out that I will have learned how to get it out by 2026..."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Premium bonds.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
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Originally posted by LondonManc View PostPremium bonds.
Will probably buy a bit of gold too just in case post-covid everything turns to shyte.Last edited by DealorNoDeal; 23 March 2021, 12:32.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by DealorNoDeal View PostWill probably buy a bit of gold too just in case post-covid everything turns to shyte.
Well, based on that definition, there's quite a few alternatives to a savings account... scootie can run through them for you.
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Originally posted by jamesbrown View Post
Because there's no risk to your capital when purchasing gold?
Well, based on that definition, there's quite a few alternatives to a savings account... scootie can run through them for you.See You Next TuesdayComment
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Originally posted by jamesbrown View Post
Because there's no risk to your capital when purchasing gold?
Well, based on that definition, there's quite a few alternatives to a savings account... scootie can run through them for you.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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