Forget a Cash ISA! I’d buy the best UK shares to make a million from the stock market crash

first_img Matthew Dumigan has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your free copy of this special investing report now! Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. When the FTSE 100 tumbled 32% in the depths of the sell-off, many investors got cold feet. The mass exodus away from the stock market and into alternative assets and savings accounts was prompted by plunging share prices and economic uncertainty. But while accounts such as a Cash ISA offer certainty and safety, they certainly won’t enable you to effectively grow your wealth. Instead, I’d invest in the best UK shares on the market to build a tidy retirement pot.Abysmal Cash ISA ratesDon’t get me wrong. A Cash ISA can come in extremely handy when saving for short-term goals such as a house deposit. But for anything above and beyond that, they are practically useless.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…The atrocious interest rates on most of these savings accounts means that, in real terms, your hard-earned money is actually losing its purchasing power. Over time, this can have a seriously damaging effect on your savings. Moreover, expect a far smaller retirement pot than if you directed your cash elsewhere.What’s more, the UK bank rate looks set to remain at rock-bottom in order to bolster economic recovery. So, it doesn’t look like the rates on the majority of Cash ISAs will be improving any time soon. With that in mind, I urge those saving for the long term to consider investing in a Stocks and Shares ISA. But why?Buying the best UK shares in a S&S ISAHistorically, the stock market has delivered a far superior return than a Cash ISA over lengthy periods. For example, over the last 30 years, the FTSE 100 Index has averaged an 8% annualised return.While investing in shares is almost guaranteed to be more volatile, those who stomached the additional risk in the past have always been rewarded handsomely in the long run. For example, let’s say you invest £500 a month for exactly 30 years. Assuming an annual return of 8%, your investment pot will have grown in value to £708,821.To make a million, however, you’re going to have to beat the average return of the FTSE 100, which is easier said than done. To illustrate though, after 34 years of investing £350 a month, with an annual return of 10%, your investment would be worth £1,086,038.Although remember, you should only invest in shares if you’re willing to hold for the long term. That’s at least five years, but ideally even longer. The larger your investment horizon, the more time you have to ride out temporary market downswings. Additionally, a longer time frame aids the process of compounding, which has a huge impact on returns, as illustrated above.As such, buying some of the UK’s best shares and holding them in an investment ISA is a far superior way to build long-term wealth, in my view. Money in a Cash ISA seems wasted when it could work much harder for you in the stock market. Matthew Dumigan | Saturday, 4th July, 2020 | More on: ^FTSE I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images. Enter Your Email Addresscenter_img Forget a Cash ISA! I’d buy the best UK shares to make a million from the stock market crash See all posts by Matthew Dumigan Simply click below to discover how you can take advantage of this. Markets around the world are reeling from the coronavirus pandemic…And with so many great companies trading at what look to be ‘discount-bin’ prices, now could be the time for savvy investors to snap up some potential bargains.But whether you’re a newbie investor or a seasoned pro, deciding which stocks to add to your shopping list can be daunting prospect during such unprecedented times.Fortunately, The Motley Fool is here to help: our UK Chief Investment Officer and his analyst team have short-listed five companies that they believe STILL boast significant long-term growth prospects despite the global lock-down…You see, here at The Motley Fool we don’t believe “over-trading” is the right path to financial freedom in retirement; instead, we advocate buying and holding (for AT LEAST three to five years) 15 or more quality companies, with shareholder-focused management teams at the helm.That’s why we’re sharing the names of all five of these companies in a special investing report that you can download today for FREE. If you’re 50 or over, we believe these stocks could be a great fit for any well-diversified portfolio, and that you can consider building a position in all five right away. Our 6 ‘Best Buys Now’ Shares 5 Stocks For Trying To Build Wealth After 50last_img

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