ISA Savings advice

[Hairybaker]

I have some money ready to put into an ISA. I expect the stock exchange is about to crash again with brexit/tier 4 etc. Should I be ready to pounce and open the account the morning of any crash? (Maybe today!) Does it work like that?!

Sorry if this is insensitive at the mo but this is inheritance money that I want to put away.

You can open a stocks and shares ISA and keep the money in cash until the time you are ready to invest.
I would suggest looking at Moneysavingexpert for advice on which platform is best for you and suggestions on what to actually invest in - putting all your eggs into FTSE100 shares is unlikely to be the best call.
Bear in mind timing the market is very difficult and you should only invest money that you don't need immediately and don't just assume you will make money, you could just as easily lose it.

Do you already have sufficient cash savings for unexpected expenses, large purchases like home improvement or car replacement and to cover loss of income?

Do you have any debt, or a mortgage that you could pay off?

Have you fully covered your anticipated pension needs?

If the answer to all the above questions is yes, then an ISA or other stock market investment could be a good idea, but a lot of the covid/Brexit fallout will already be priced in, so any drops might have already been taken care of.

But there could be a drop when the markets open, but then who knows how the ups and downs will play out and whether you are able to time these as an inexperienced private investor?

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