Probably the most common type of tax-free ISA is the Stocks and Shares ISA.
It’s tax free because you don’t have to pay tax on the interest you receive and you can use the money for anything you’d like however you’d like to do so.
It is entirely possible to switch a fund into the index of your choice each year, so it really doesn’t matter which type of product you invest in.
There is a scheme called the Challenge. elimin Quarterly final prize drawing bonds provide you with an interest payment of 10.25% BUT the scheme is only available to 9 year old children.
What’s the best ISA/Pension?
There is no short answer to this question. Everyone has different needs and restrictions therefore you’ll need to consider your own situation and then make a decision.
The best decision you can make though is to not purchase an income and investment fund until you have some plan to invest in where you are investing and have the money for, hopefully, the full term of the fund.
These funds are extremely expensive with high costs and if you don’t have the time or energy to research the fund yourself then it is probably best to find a solicitor to look at it for you.
The priorities are:
There are a number of further funds available to you. Invest in one and see if you don’t become more conservative. There is a reason that 90% of pensions fail. It’s not because the returns are low. Most pensions have extremely high costs and low returns and these funds or pensions are frequently not worth the upfront cash payment.
The priority is to think about your future needs first, because investing in an income fund for the rest of your life is not advisable.
Do you want professional advice?
We work one on one with our clients by helping to uncover the best financial decision that’s right for you. Clients can either call us or send us an email, we can’t guarantee a meeting because we are not a professional agency, but we can assure that our service is totally free.
We meet with our clients on their request; this meeting takes just 30 minutes and it’s at their convenience.
If you need advice about a financial decision, you can write to us, we’ll give you a free first advice meeting to see if you are happy for the advice.
Factors/advice on investing in Stocks and Shares ISA:
Don’t invest your hard-earned cash in an income fund for the rest of your life. Take the opportunity of investing your cash in stable, high-yielding investment product such as an ISA (Individual Savings Account).
Invest in an ISA, it will give you tax-free savings for when you need it.
Cheque and savings accounts
Investment products such as Unit Trusts, Investment Managers varies and it’s our discretion that you invest them. Our team of investment experts will give you the advice you need.
If your company offers a top quality pension, it would be prudent to review the contributions so that you are fully aware of what obligations you have. We know that the value of petrol pensions increasing and to what limits.
Why not review your pension every year-end? You have until the 4th January next year to re- affiliation your pension.
If you’ve changed jobs recently, the time to change could be now or may be 6 months from now
If you’re in the armed forces, it could give you up to 6 months to change your pension.
If you’re divorce or separated, you may want to consider having an “alternative” spousal pension available to you that could give you an income if you were to die first.
If you’re a bankrupt or receiving qualified fees, you may want to reduce or periodically increase the amount you have placed into your pension.
Do we need your leave?
How much money do you have – and should you have any – is often a question I am asked daily.
The clue is in the amount you have in your bank and building society accounts. If it’s not stated then your “icit” is very low.
If you don’t know what you have in your accounts, go to the latest bank statement and list what you have in there.
What can you do about this?
A start is to know exactly what’s in your petrol account at any time you can. Use online banking to check it or just telephone your bank to find out what’s available there.
I said this earlier. In the current climate, this could be the most important advice you’ll read this year, so do it NOW. Once you’ve done this, don’t touch it again.
Paying the best price for your fuel
I’ve lived in crossing since football�.