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Cash ISAs still worth doing.??


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If you can't afford to lose the money or have an impending purchase then why not?

The worst you will do is lose a steady 1% real terms per year whereas in the stock markets you can lose 20% in a year.

It depends what is your timeframe.

If you lost that 20% then would you be happy to leave it there for several years to recover?

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Democorruptcy

If you have nothing else in mind for the money at the moment, it's worth doing while you decide. Once it's in the ISA you could later decide to switch it to a shares ISA and benefit from it being tax sheltered, no CGT etc. Another consideration depending on age/circumstances/don't need the money etc is to top up your pension.

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Cheers! No real need for the money right now, but nervous of stock markets with this going on. You are right, can easily transfer later.

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I'm thinking of moving some out of premium bonds and into a s&s ISA before April as I've not used up this year's allowance yet. Then hold it in cash in the s&s ISA ready to distribute into investments as the downturn progresses, drip in while waiting for it to bottom out so don't need to try to time the bottom.

Was going to do this with a private pension by transferring it to a SIPP (potentially Vanguard's now it's available) but not sure now is a good time to be cashing in (it would be converted to cash for the transfer) as things fall, especially when it can take many weeks to complete so no idea what the state of the value would be during that phase.

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"Cash ISAs still worth doing.??"

Whatever, a cash ISA will end up a stocks and shares ISA when the bank goes bust and you bail them in!

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I don't think cash ISAs are a good deal currently. I did a stock market based one that made me just 15 in 3 years, which wasn't good. The next stock one I did made a fair amount in 5 years.

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