isa accounts?

[ilovemarkb]

completly confused!! mother in law says you can only invest £5000 in them but my sister says £10,000. what is the best way to invest £47.000 ? (not locked away long term though??

[VHG]

You can only put in about £5,640 a YEAR in an ISA (actually you can put that amount in a CASH ISA and the same amount in a stocks and share ISA in one year).

And of course if you put your £5,000 in a cach ISA each year you will have £10,000 or so after 2 years, £15,000 after 3 years and so on.

If you have £47,000 to invest you can only put part of it in an ISA in any one year.

[factor-fiction]

http://www.moneysuper...es-explained/0006456/

[ilovemarkb]

thanks guys xxx