Savings - ISA - Nutmeg

[aarond]

OMO,

I was hoping to open a cash ISA before the end of this tax year but with the pitiful rates I started looking around to see if I could get a better investment.

I am considering Nutmeg which is a discretionary investment service, I don't have the time to faff about and this seems to be relatively good service. (All be it a tad expensive)

Any experience of Nutmeg, or similar fund management services?



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[Trev B]

At the moment your better off putting it under the mattress!!!

[aarond]

Nah the other half will erode it then 😂


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[TamSV]

Don't know anything about Nutmeg specifically but I suspect there's no comparison between the two options you're looking at. With a cash ISA your capital is safe whereas with an investment, it isn't. Cash ISA also doesn't erode either your growth or your capital with fees.

The question for you to deal with first is how happy are you to risk your capital?

[aarond]

I agree there is no comparison, I also accept there is a risk if loosing money in the investment.
Although cash ISA doesn't erode capital with fees interest rates being so low (although inflation is threatening to go negative) if inflation does rise I will in effect be "loosing money".

If I go for an option such as Nutmeg I will be about middle on the "risk scale". I have some smaller investments I manage myself but for this I would prefer this sort of service as these guys should know more than me.


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[TamSV]

Fair do's. Sounds like you know what you're doing and you're not going all in.

As I know nowt about Nutmeg, the only other thing I would say is also have a look at Index Trackers. Lower fees and, over time, managed funds don't usually do much better (and sometimes worse). Bernie Madoff was the last guy that could beat the index every year....

Check carefully for any hidden fees that don't make the headlines. Do your research and ignore people on the internet. ;)

[aarond]

Fair do's. Sounds like you know what you're doing



Ha ha ha 😂


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[Specialone]

ISA's are tax free up to £15k per year, is the nutmeg the same deal?

[aarond]

Yep if you you open the ISA account


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[Heorot]

I looked at and owned cash ISA's from quite early on but the returns were pitiful. While on a year break between contracts I got interested in shares and found that I could invest in a self select stocks & shares ISA. You put the money in and then choose the shares to buy. If you are cautious in your choice of shares, the returns from the dividends alone can easily beat cash Isa returns. Of course. there is more risk with shares but I believe it is worth it. The last 3 years my dividends alone came out at 5%, 4.6% and 4.6%. And the value of the shares themselves have also doubled in the last 10 years as well.

[Heorot]

This is a useful link to help you decide.

http://www.dailymail.co.uk/money/diyinvesting/article-1718291/Pick-best-cheapest-investment-Isa-platform.html

[aarond]

Thanks, Nutmeg is like them but it makes the decisions. You set the risk then it adjusts your portfolio as necessary


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[L3nny]

Buy an SP1 or NC30 much better investment and way more fun :)

[aarond]

I think I would be killed


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