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Yeah ISA cap probably isn't the most critical part, but if it's too rate if not in the ISA I could see the advantage...
It's the same concern I had though, what if this is the top! Valuations look huge at the moment. But @dt thanks for the article - weirdly it seems to conclude that the single punt is more likely to be successful but steers towards the drip feed anyway
Unless you are using an ISA as the equiv of a pension and need to max it out every year I wouldn't let that sway the decision too far. Tax free advantages on smallish amounts aren't too compelling.
I have a similar 'problem' - big wodge of cash but don't want to lump it all in at the top. So thinking at the moment of dripping a chunk every month.