Advertising feature: When it comes to saving for the future, is your money in the best place? Investing some of your money over the longer term, gives more options.
Spreading across different time frames for different objectives is a sensible approach. The same can be said about where to invest. The well-known saying “don’t put all your eggs in one basket”, is certainly true. Investing in tax efficient areas is also a key consideration.
What type of ISA (Individual Savings Account) is best for your needs?
• Up to £20,000 each tax year can be invested in either a Cash or Stocks & Shares ISA, or a mixture of both (tax year 2020/2021)
• ISAs accept lump sums and/or regular contributions
• Stocks & Shares ISAs are recommended for 5 years plus, but are accessible without penalties
• Stocks & Shares ISAs with different providers can be transferred into one pot
• Cash ISAs can be transferred into Stocks & Shares ISAs, providing higher growth potential
• Stocks & Shares ISAs can provide tax free income
• Parents/Grandparents can invest up to £9000 in a Junior ISA (JISA) for a child
Viewing your Cash ISAs as longer-term savings?
Potentially they could be in the wrong ISA. Advice is therefore vital. Cash ISAs are designed for shorter term needs. Stocks and shares ISAs are longer term, offering more growth potential and a better hedge against inflation.
Is your Cash ISA paying a typical interest rate of 0.10%? (*Bank of England Base rate)
For advice, contact me to arrange a face to face or virtual meeting.
For more details please contact me on 07946 183512
sherald.waterhouse-trew@sjpp.co.uk
The value of an investment with a St. James’s Place Wealth can fall as well as rise. You may get back less than you put in. An investment in a Stocks & Shares ISA will not provide the same security of capital that is associated with a Cash ISA. The favourable tax treatment of ISAs may not be maintained in the future and is subject to changes in legislation. ‘The Partner Practice is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products. The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.