isas

[Alixw]

I'm 20 years old and woudl like to open an ISA. I dont have loads to pay in every month, just �50, something like that. Which is the best type to go for, any ideas?

[Ward-Minter]

�50 quid a month a 20 years old? My dear boy put it into a low risk pension instead. You are not going to see a state pension and if you start now you will be retired young in life to enjoy golf or sailing as opposed to spending hours on the internet looking at Answer Bank and porn.

[WendyS]

I'm not a financial advisor so am not qualified to give you professional advice.  But if I wanted to make my ISA a really long term investment (5 years minimum and probably much longer into the future) I'd opt for an equity ISA in the form of a unit trust as history has shown that long term investments in equities (shares) are more profitable than cash.   Research on the internet for Growth Unit Trust ISA's will provide plenty of options.

On the other hand, if you're likely to want the money in two or three years' time for a deposit when buying a property, I'd go for a CASH ISA.  Again, Googling best Cash ISAs will give you plenty of choice.