Reply to: ISA's

[Money Money Money]

Cheers everyone,

Still young and no property yet, so will just leave it where it is and wait for the market to bottom out, nice BTL me thinks!

[pmeswani]

Ladies and gentleman of the richer variety, and the financial geniuses.

I have been filling up an ISA for the last 4 years.

Interest over the last 4 months has gone £52, £43, £34, £20!

I'm not really looking forward to seeing it next month

Is it best to leave it in an ISA as it will go back up in the long run and can obviously only but £3k odd a year in, or is there a better option?

Won't need to access it for over a year maybe 2 depending on when the market bottoms out.

Thanks

As already suggested, take the money out and put it into a SIPP. Either that or look at puting it into a ISA Stocks and Funds and put it into a Fund that has a yield of 6% or above. However, as always, consult a IFA that works on both Commission and Fee based income, that way you should get an impartial advice.

[Cyberman]

Don't bother... that's a bigger ripoff than the ISA...

A personal pension is a FAR BIGGER rip-off than an ISA, but a SIPP(Self Invested Personal Pension) is the best of the bunch and is highly advantageous if you are a top-rate taxpayer.

[Cyberman]

Which given the current market conditions may or may not have been just bad luck. Why did you sink another 10k into the rights issue though?

.. because I trusted the directors and the bank. In retrospect I should have sold before the rights issue. I will never ever trust what auditors etc say against my better instincts, and hence my total cynicism with Barclays early statement last week.

Buy property and you will not be worrying about court-cases, lies and deceit, unless you are extremely unlucky or completely stupid.

[Ravello]

I had 90K of that invested before the rights issue !!

Which given the current market conditions may or may not have been just bad luck. Why did you sink another 10k into the rights issue though?

[Cyberman]

To be honest, that doesn't look like greed, just poor decision making. Why on earth would anyone invest 100k in a company who's rights issue was at best "supposed to keep them going for another year or so"?

I had 90K of that invested before the rights issue !!

[Ravello]

If I get no compo for the Rock, that is 10K, and Equitable Life cost me at least another 10K and HMG have admitted to culpability and compo. Then, a company I had invested approx 100K in went bust, when the bank RBS foreclosed six months after a rights issue which was supposed to keep them going for another year or so. Very dodgy and a court case is ongoing.

As I say, property is far more secure !!

To be honest, that doesn't look like greed, just poor decision making. Why on earth would anyone invest 100k in a company who's rights issue was at best "supposed to keep them going for another year or so"?

[Cyberman]

That wasn't Nieu Lie's fault through some tenuous link by any chance was it?

If I get no compo for the Rock, that is 10K, and Equitable Life cost me at least another 10K and HMG have admitted to culpability and compo. Then, a company I had invested approx 100K in went bust, when the bank RBS foreclosed six months after a rights issue which was supposed to keep them going for another year or so. Very dodgy and a court case is ongoing.

As I say, property is far more secure !!

[oracleslave]

whereby you could later lose a fortune, as I did.

That wasn't Nieu Lie's fault through some tenuous link by any chance was it?

[Mustang]

Who Gives A S....

Thanks!!

[Cyberman]

Depends on your attitude to risk then really. Personally if I'd paid off the mortgage I'd be tempted to try and pick out some shares for the long term (in a maxi ISA), but evidently that could go horribly awry. Currency trading is even more risky unless you really know what you're doing, or, are incredibly lucky!

You could chuck the money in a Personal Pension which would give you the tax efficiencies, but again that's more long term since most funds won't start to appreciate until the conditions improve - by which time the interest rate on your ISA will likely start to grow again.

So all-in-all it's probably just as wise to keep it where it is and not read your next interest statement Either that or take it all out and spank it on some trader's Porsche that he's trying to get rid of on the cheap..

Forget shares. Once you buy them and make a bit of money you will get greedy and start trading, whereby you could later lose a fortune, as I did. Property is pretty stable despite current woes and long-term you will not lose. Get a mortgage and a cheapy buy-to-let and in a few years you will have a nice nest-egg.

[expat]

You could chuck the money in a Personal Pension which would give you the tax efficiencies, but again that's more long term since most funds won't start to appreciate until the conditions improve - by which time the interest rate on your ISA will likely start to grow again.

Depends how old you are. For me in my 50s, no interest rate on the planet can compare to grossing-up 40% tax, I just don't have time for compounding to build up.

[Ravello]

No morgage.

Depends on your attitude to risk then really. Personally if I'd paid off the mortgage I'd be tempted to try and pick out some shares for the long term (in a maxi ISA), but evidently that could go horribly awry. Currency trading is even more risky unless you really know what you're doing, or, are incredibly lucky!

You could chuck the money in a Personal Pension which would give you the tax efficiencies, but again that's more long term since most funds won't start to appreciate until the conditions improve - by which time the interest rate on your ISA will likely start to grow again.

So all-in-all it's probably just as wise to keep it where it is and not read your next interest statement Either that or take it all out and spank it on some trader's Porsche that he's trying to get rid of on the cheap..

[cailin maith]

Who Gives A S....

Thanks Rav... I don't know what that was either

[Ravello]

We need to start a thread just for abbreviations!!

Who Gives A S....