Stock ISAs

LeftBehind
LeftBehind Community Member Posts: 32 Connected
in Money and bills

I've heard about stock ISAs and I had a look at them. I like the interest rate however I don't want to lose any money. I've seen people with good stock ISAs but I don't know where to start or know much about it.

Is there a way where I can have someone who knows about stocks and tell me which stocks to invest in?

Comments

  • OverlyAnxious
    OverlyAnxious Community Member Posts: 6,405 Championing
    edited January 2025

    Hi,

    Stocks & shares are always risky. It's a volatile market. That's why you can make huge gains…but also huge losses.

    You can have a 'managed' account, where someone else chooses what to invest in each time. Or you can have a DIY account where you make the decisions, but have access to a financial advisor who tells you what looks like the best option at the time. You may have to pay for the advice each time, depending on which provider you choose.

    As above though, there is no certainty in this, even the experts can get it wrong, so think carefully about whether that's a risk you're willing to take.

    Also question whether you need an ISA at all. The only benefit of them is being tax free, but most of us on here will be below the savings threshold for paying tax anyway. If you get any means tested benefits, ISA's are not disregarded as capital.

  • LeftBehind
    LeftBehind Community Member Posts: 32 Connected
    https://forum.scope.org.uk/discussion/comment/977382#Comment_977382

    Thank you for that. I'll think about stock isas differently now

  • damine222
    damine222 Community Member Posts: 28 Connected

    Stumbled across this old thread while digging through the forum archives from last year and honestly, it felt so relatable because I had the exact same panic about stocks back then. Nobody really wants a stranger telling them what to buy blindly, but having some structure helps massively when you're clueless. If it helps anyone, I ended up putting some funds through The Investors Centre to figure out my stock ISA options without getting overwhelmed by jargon. It’s not magic, but it keeps things simple enough for a beginner.

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