Are cash Isas a good long-term investment?
Cash Isas can be a good long-term investment in providing stability in retirement, especially during an economic dip, one comparison website has claimed.
Pierre Williams, spokesperson for MoneyExpert.com, said: "The real concern with pensions is the lack of certainty of how much of an income they will provide on retirement.
"Isas - and particularly cash Isas - provide much more clarity of their worth at any one time. People look for security in times of economic turmoil and cash Isas deliver on this."
His comments come after a report from the Office of Fair Trading said that it has made arrangements for banks and financial institutions to offer greater transparency over the interest rates offered with Isas.
Despite some complaints of banks not offering the best rates on cash Isas, sales were up to their highest level in April, according to the Investment Management Association.
Consumers can receive personal finance advice on where best to put away their money for long periods.
Posted by Christopher Evans
Published on: July 2, 2010
Did you like this article? Share it!