Stop Putting Money Into A Cash ISA (Here's Why!)

Comments · 25

• UK

  @UKFinanceSimplified · 13 days ago · pinned

  A higher-rate taxpayer would need a savings account paying about 7.2% to match one low-coupon gilt.<br>No savings account in Britain pays that.<br>So which team are you on: Cash ISA, gilts, or stocks and shares?

  2

• KA

  @Karlm01 · 13 days ago

  you can get nearly 5 percent if you shop around and dont mind get a fixed time

  5

• SC

  @scillyrob7056 · 13 days ago

  Really enjoying your video animations, very informative and good to see what I&apos;ve been doing right and wrong all these years, backed up by real world maths.<br>I personally have a stocks and shares ISA, a few volatile stocks but I watch them very closely.

  1

• WA

  @wayne7195 · 13 days ago

  Not everyone wants to lock their money away in gilts or stock and shares.

  6

• SH

  @Shino88 · 13 days ago

  You&apos;re doing Gods work with these videos. Waking up the sheep. 😁

  1

• ST

  @steventaberham · 8 days ago

  Stocks and shares (ISA or pension) essential for long-term growth so withdraw from this when the markets are doing well and keep three years of income required in a cash ISA for a market downturn. <br><br>Bonds / guilts for your third bucket is ok but not necessary if you can get a good rate within your cash ISA

• MI

  @michaelgrant1160 · 12 days ago

  I suspect that the average cash ISA pays 2.71% because people aren&apos;t moving them. I got 4.6% a couple of months ago and can still get it today.

  1

• MI

  @michaelgrant1160 · 12 days ago

  Chloe&apos;s £15,000 could be added to and the interest could then be more than £1k. You&apos;ve got to start somewhere and if she were to &nbsp;start next year it would only be £12,000. Admittedly with another £12,000, perhaps, in the following year the tax saving might be small but it&apos;s in her pocket and it will be more when she adds more money..

• SC

  @ScottEastwood-x2c · 3 days ago (edited)

  Cash ISA , I’ve put 20000 each year in the best fixed rate that year then I will move it the following year on the best rate and transfer it again…currently at 4.5 %

• RM

  @rmw7536 · 12 days ago

  If you are a low earner you get a starter rate on savings of £5,000. I earn £12,570 on my pensions and can earn £5,000 interest, tax free as well as my ISA income also tax free. If I earned £13,570 then my tax free starter would be £4,000.

• MU

  @musicman5532 · 12 days ago

  If you cannot find an easy access cash ISA paying 4% plus then you are not looking hard enough. For my 92 yr old mother the ISA is the go to product.

  1

• MY

  @MyTablet-z9u · 12 days ago

  Outdated info. Fixed rate ISA&apos;s are now averaging 4.9%..