Stocks and shares ISA

[Vergus]

I have some funds (approx £65k) sitting in a high interest savings account. I'd like to make it work for itself so in about 13 - 15 years, when I retire, I can have a pot of money to help my sons out with, and for me to maybe do the house up a bit, or go on a once-in-a-lifetime trip with DH.

I was looking at opening a S&S ISA though Fidelity. I've also looked at some of the products on offer through Vanguard - LifeStrategy Fund and/or a Retirement Fund. I'll be totally, honest I've no experience in investing so I would probably look for a managed portfolio or managed product which I understand incur fees - but because I really don't know the first thing about S&S I'd rather have it taken care of.

I'm not happy keeping the money in a savings account because, I pay tax on the interest and long-term I understand it will depreciate in value as it won't keep in line with inflation or grow.

Has anyone had experience with investing, through any of the products above? Are S&S ISA's a good option? Is there any other product that might work better for me?

Thank-you!

I have been lucky with S&S ISA the current balance is double what I put 3 years ago even though I only buy popular blue chip stocks and some 'pies' that generate dividends. But I'm aware I can still lose money in the future if I don't cash out which I don't plan to do yet. I put half my allowance in Cash ISA now so it's less risky.

I’d recommend AJ Bell. I buy tracker funds and also buy individual stocks using advice from Motley Fool.

The HSBC global strategy funds are quite good and have low charges. Similar in a way to the vanguard life strategy funds. Hargreaves Lansdown are quite expensive so try and find a lower cost way to invest. iWeb are cheap if you don't want advice.

@calmandcollected101

If you are 29 and not planning to take the money until you are retired rather than just 60... you're probably better off increasing any workplace pension contributions than using a LISA.

I've got stocks and shares isa with plum app which is 5.5%

Historically, managed funds rarely beat their index tracker. Only about 1 in 10 fund managers manage to beat a similar passive fund over time. Fees depress returns and this can have a significant impact on your investment.

S&P 500 index is up 82% over the last 5 years. Historically on average it will make about 46% over a 5-year period.

A simple global tracker fund such as Vanguard FTSE Global All Cap returned 72% in the past 5 years.
Very few investment managers can beat these returns - and those that beat it over one 5 yr period often don't maintain it in the next.

I have been lucky with S&S ISA the current balance is double what I put 3 years ago even though I only buy popular blue chip stocks and some 'pies' that generate dividends.

100% return in 3 yrs is pretty wild!