What Isa are you investing in this tax year?

[King Biscuit Time]

ISA? Investing? Spare Money?

Ha ha ha ha ha!, Ha ha ha ha ha ha (has coughing fit).

 

[gentlegreen]

It's the one consolation of extreme old age.

 

[rubbershoes]

ernesto would have loved this thread

 

[gentlegreen]

Maybe we need a new financial sub-forum in suburban.

 

[Choc]

the ISA i have now, i only got 9 months ago. basically you have to be prepared to change your account every year to keep the best rates.

the thought has never crossed my mind

i always thought once it's tucked away i forget about it.

i should really do sth with my low rate barclays isas this tax year then...!!

 

[sleaterkinney]

the granuiad has a good guide here http://www.guardian.co.uk/money/2008/feb/23/isas.savings

I just stick it in a internet savings account though, can't be bothered with an isa.

 

[marty21]

i have a triodos one, the interest rates aren't as high, but they invest in stuff i don't feel bad about

 

[jbob]

My, how this place has changed.

 

[chriswill]

How long does the 10% rate last for?

June 09

*whistles*

 

[sleaterkinney]

June 09

*whistles*

Yeah but stuff like that always has the small print of you can only put in 5 pounds a month with a maximum of 100.

 

[chriswill]

T&C's

Its not a bad deal really.

 

[Mikey77]

I'm gone with Icesave. I think it was 6.1%, but I didn't qualify for the Barclays Tax Haven as they would not let me transfer from my previous year's tax beater.

 

[sleaterkinney]

T&C's

Its not a bad deal really.

There's always a catch somewhere if you look hard enough, the banks are there to make money from you.

 

[chriswill]

They make enough from me, I work for them

 

[Gavin Bl]

Has anyone here dabbled with something a bit more risky ?

I'm 17 years off retirement and I'm not sure cash is a sensible long term option...

Instead of investing cash you can put it all in a stocks and shares ISA up to £7k a year (or thereabouts) - the market is rocky right now - but if you are going to sit tight, it almost always outperforms cash savings. It might even be a good time to start investing in this way.

I have a stocks and shares with M&G, a FTSE tracker that has a gaggle of shares combined, and while its probably taking a bit of a kicking right now, thats how the cookie crumbles, over the long term, should be oK (I;m only paying a few hundred a year into it at the mo). It has a very low management fee too.

I wouldn't give up entirely on cash savings though - they're a bit of bedrock thing.

 

[Choc]

i have decided to apply to abbey national and also transfer my existing cahs isa's there. i hope their admin process doesn't take forever and that it will work.

i am really tired of barclays bank. so hope that this was a good descision!

i didn't do the stock and share allowance thing...yet!

 

[gentlegreen]

ethical stocks and shares ISA ?

A colleague who publishes papers on international business tells me I ought to invest in shares in dreadful companies like Tesco and the like if I'm ever to retire early ....

How does one actually do this ?

( I've subscribed to Motley Fool but it makes my head hurt)

 

[gentlegreen]

I'm in the process of moving my savings to Egg - who are offering me 2.8 percent nett, and considering who to buy an ISA from this year, and I realise that my ISAs are earning significantly less.

I will probably be losing £170 in interest over the course of the year compared with cashing them all in and putting it all in the Egg account.

I wonder if it's time to give up on ISAs ?
Seems like a way for banks to trap your funds.

 

[Choc]

I'm in the process of moving my savings to Egg - who are offering me 2.8 percent nett, and considering who to buy an ISA from this year, and I realise that my ISAs are earning significantly less.

I will probably be losing £170 in interest over the course of the year compared with cashing them all in and putting it all in the Egg account.

I wonder if it's time to give up on ISAs ?
Seems like a way for banks to trap your funds.

what do you mean? some isas used to pay over 5% a year. but then of course that rate goes down the moment they are allowed to.

last years transfer to abbey took about 2 month btw.

are the new rates out for next years isa's yet (not that i expect them to be attractive at all)? because if one would want to do and isa transfer then better start with the process now.

peculiar situation the banks and us are in atm looking at the interest rates i would almost rather have no savings.

 

[gentlegreen]

I think I got 10 percent on my two Alliance and Leicester ISAs by switching to their current account back in the spring.

They're now offering 3.00 percent gross on this year's ISA - but I can't transfer over last year's. (which I have a horrible feeling is now offering sub-2 percent)

Correction - currently 6.8 nett of tax. (I'll be keeping my eye on that figure ).

 

[Choc]

its all a bit duller this year, isn't it?

last years rates (ie 10% as mentioned above) seem a long distance away.

i just transferred last year isa from abbey to abbey national direct isa which will give me 3%. i chose them simply because i did last years isa with them and it all took quite a while to set up ie until all transfers were in from other banks.

for this year if i can find some more savings somewhere, i would do the golden isa from barclays which gives 3.61% and it would be easy for me as i am with barclays. but need to see if i have the money for it.

hsbc pays a good ish rate if you have over 9k but i can't be asked with opening a bank account with them etc. it s not really worth it anyway...

what are you guys doing.

 

[gentlegreen]

After moving all my spare cash from Alliance And Leicester into an egg savings account, it looks like A&L now offer a similar or better rate.

A&L have a "reward" ISA that looks OK (bonus if you don't touch it for the 12 months) , but I have two shitty NatWest ISAs and still have a current account there - so I'll arrange to see the manager next week - see if they'll offer me a deal ...

Such a lot of effort for a few quid ...

 

[Idaho]

I'm gone with Icesave. I think it was 6.1%, but I didn't qualify for the Barclays Tax Haven as they would not let me transfer from my previous year's tax beater.

Ouch!