💰Cash ISAs - Are they a waste of a Tax Break?
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- Опубліковано 18 жов 2024
- Drop any comments or questions below! 👇
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IMPORTANT DISCLAIMER
This video is not financial advice, it is for education and entertainment purposes only. Any opinions or assessments expressed are Hilary’s own opinions or assessments, which are not affiliated with any third party. Any representations stated as facts or views based on such facts are relevant to circumstances applicable at the time of publication. This information should never be relied solely upon to make decisions, and Hilary accepts no liability for any actions undertaken by viewers. Please seek regulated financial advice if you require assistance. The value of an investment and the income from it can go down as well as up, and investors may not get back the amount invested.
Risk free interest for my retired parents only cash made 5% cash isas a no brainer really. Especially with 3 withdrawals penalty free over 3 years.
Stocks and shares would have been great but no risk appetite made this clear cut for me.
Great video.
Thank you, glad you liked the video :)
You're absolutely right, there are definitely situations where cash ISAs are the better choice, its about working it through like you obviously did rather than just defaulting to a cash ISA.
I'm fairly new to all of this ... but it seems to me that having a stocks and shares Isa kind of defeats the point: if you're holding most of your pension pot in long-term funds, with a portion held in cash in case of a market crash ... then your 'cash' is also going to take a hit when the market dips, isn't it? (ps Hilary: thanks for the vid, but can I say: I find the switching from one camera angle to the black-and-white side-shot a bit irritating ... just distracts from what you're saying?)
Hi, good point and I agree that everyone should hold cash for emergencies and short term spending, which also acts as a hedge against inevitable market downturns. A cash ISA might be a good place for this as long as the money is accessible, but if you're using a cash ISA for surplus funds as a longer term investment I just feel it's a waste of the ISA tax incentives. Obviously risk is a personal thing and it also depends on your time frame, so it won't suit everyone! Thanks for the feedback on the video style by the way, I'm still a newbie on this so appreciate your comments! :)
Good video Hilary
Thank you! 😃