How to avoid the seven deadly ISA sins
By Kirsten Hastings, 10 Feb 16
With two months to go before the end of the current tax year, Maike Currie, investment director for personal investing at Fidelity International highlights seven ISA sins that investors should avoid.
With interest rates languishing at rock-bottom levels for almost seven years and counting, you need your savings to work even harder to generate a decent level of income.
Holding your money in cash can result in very limited returns over time. Our calculations show that if you had invested £15,000 ($21,652, €19,276) into the FTSE 250 index over the 10 year period from 31 January 2006 to 31 January 2016 you would now be left with £35,455.49.
If, however, you had invested £15,000 into the average UK savings account over the same period, you would be left with a paltry £16,076.25.
That’s a difference of £19,379.24 – too big for anyone to ignore.
Tags: Fidelity
