ISAs - are they worth it ?

[Andr3w]

I have 5k in one cash ISA, I am really tempted to open a S&S ISA after this thread as people mentioned they are better?

 

[Mercenary Keyboard Warrior]

S&S ISAs have risks.
Generally risk = reward
So the more risk you take the bigger the possible reward you will gain, but also the bigger the possible loss.
You realise a S&S ISA can be worth less at the end of the year than at the start?

 

[El Pew]

You realise a S&S ISA can be worth less at the end of the year than at the start?

This is true but nobody should be investing in an S&S ISA for terms as short as a year. They should be invested regularly with a horizon of at minimum 5 years, more comfortably 10-20 years.

 

[davestar_delux]

I get 4% on my current account with Lloyds.

It's the best rate I could find around when I set it up.

I don't know what the rate is after tax but it pays me about £20 per month and I have instant access as it is a current account.

 

[carlazai]

They are worth it if you get a stocks and shares ISA over a huge time period (imagine it as a second pension) that is being run by Bob Diamond himself i.e. a return of 7%. Otherwise its totally pointless with interest rates like they are.