sunny

iTrader: (1)

I think I am going to invest some money in an ISA next week. Anyone on here work in the financial market that maybe able to advise or recommend what good deals are out there?

Thanks - Sunny.

M Brian

still limited to 3k in a cash one and 7k in a maxi arent you?


i've been fooked with mine... its only just about broken even after 5-6 years!! september 11th knocked huge chunks out of mine...

put me off them now!


im interested aswell if there are any guarrantted return ones available

SS1

iTrader: (3)

Poom

I am new to financial stuff but I got an ISA (Standard one) when I opened a bank account...how do you lose money?

Are the banks not insured for loss?

RANJ

ill put you intouch with somebody that my family deal with

M Brian

there are a few types of ISA.

there is a cash type which is basically a high interest savings account that the government dont tax you on. and most are currently running at around 4.5% interest....

but there are MAXI Isas which are basically stocks and shares and managed funds etc... where you either put in a lump sum or regular savings etc and you buy 'shares' in the fund...

some are protected so you can never lose your money (just potentially never gain any extra) but you get no where near as a good a gain.


with marconi going down the pan and 9/11 id halfed what money id got in stocks shares ISA etc - it wasnt alot but enough to annoy me! lol
back up to a minimal loss at the moment now.

gus

iTrader: (1)

im thinking about doing them bonds


good enough for alan sugar

i need to find out more about it thou

Dragon

ING are currently offering 4.75% AER but all non-taxed ISA are capped - see www.ingdirect.co.uk

Be careful with managed funds etc. as you can lose your investment as already pointed out, however depending on the portfolio this can yield a much higher return.

sunny

iTrader: (1)

Dragon - whats max you can pay into that ING a year?

Thanks - Sunny.

Porkie

iTrader: (1)

Sunny, its just a high interest savings account so no limit at all. Roman Ambramovich maybe able to start getting them to sweat a bit, but I doubt you are going to have them panicking

Andy-R

Sunny any ISA that quotes a % growth will be a (mini)Cash ISA the max investment is £3000 per Uk resident over the age of 18, in any given tax year.

If you were selecting a (mini)Cash ISA, you can use the remainder of the £7000 ISA limit (per tax year) in 2 other (mini)ISA's ie £3000 in a stocks and shares ISA & £1000 in an insurance ISA.

Alternativly you could fund upto £7000 in a Maxi ISA(Stocks & Shares)

Porkie

iTrader: (1)

Sunny, I Just looked to make sure. £2,000,000 is the maximum account size.

Andy-R

I get ya!

sunny

iTrader: (1)

Porkie, £2,000,000 - Should be ok then.

I've setup a few accounts this morning and will have funds going in every month from this months salary and onwards. Damn....doesnt help funding my car too much.

Thanks guys.

Anonymous

Sunny
Are you losing the plot, money is for spending get that car finished & get back to having fun. You can start doing these old man things at a later date
Rod

M Brian

pmsl... when the hell is later for you then Rod?!!


this thread has reminded me to check my maxi ISA today... wooofookinhooo it's £3 off breaking even after 5 years as I previously guessed!!! Hopefully it go up to make some money now!

annoying thing now is.. I stopped investing in it when it was plummeting as I hadn't got enough money to keep chucking it in.
i'd of made 50% on the money if i'd carried on lol

don't suppose 1 marconi share is worth anything to anyone is it? sell it ya for £500?

gurnE

There is no such thing as a Life Insurance ISA any longer.

From this tax year the £1000 ISA allowance was almagamated into the Stock & Shares Elements. You can however still invest into the With Profits fund if you choose to, which was all the L/A ISA was.

Limits are:

Maxi ISA: £7000 Can be made up of stocks & shares and/or Cash components (Maximum 3k cash element, it can all go into S&S though)

Mini Stock & Shares: £4000 limit, as mentioned L/A ISA now forms part of this so technically you could sink all 4k into With Profits if your provider is still offering them. Most bonus rates are shit though.

Mini Cash: £3000, offered by most banks/building societies. Nice and safe and good steady performers.

If it's a true ISA, rather than a savings account it must fall within these contributions limits. Remember an ISA is tax free so does not get hit with the 20% savings tax a high interest account would do (more if you are a higher rate tax payer.)

Ask if their ISA is CAT standard too (lower charges)

Look @ National Saving products too (go to the post office) as they has several tax efficent products worth considering.

andy_st200

their a waste of fookin time mate, i had 7k in premium bonds and won fook all over 3yrs

andy_st200

if you work for a big company see if they do share save schemes.. these are more than worth using..

i had one where i put 3.5k in over 5 years and at the end of it ended up with a 7k in a maxi isa and still 160 shares left over (at current value of RBS shares worth over 2.5k) so almost trebled my value over the 5 yrs

just had another one finish this year put in 5k over 5 yrs and now worth over 11.5k

M Brian

the interest earned on the cash ISAs doesnt count against the 3k input for the next year either...

so if youve been putting away 3k since they started and not taking anything out then you'd be seeing about a 1100 a year in interest on top of the 3k for 2006.

gutted I stopped! (put mine towards a house and made 120% though not all bad)

Sexy-RS

Sunny i'll look after some money for you