February is ISA Spotlight month, where we are bringing you everything you need to know about the different types of ISAs, what they mean and more. We have tips for ISA beginners and valuable advice for long term ISA account holders.
Here’s a roundup of all the articles you need to become an ISA expert!
Are you a total ISA newbie? Perhaps you have a vague idea of the different types of ISA but want to learn more. You may even have an ISA, but you are not quite sure what it all means. Whatever your situation, here’s our ISA comparison guide to help you get familiar with the five main ISAs.
These long-term savings accounts mean you can put together some tax-free cash for your child. Whether it be for university fees, travelling or a down payment on a house – you’ll be setting them up well. They are also a great learning opportunity for children. You can teach them money management from a young age and help to develop their savings skills. Check it out here.
Whether pensions or ISAs are better for retirement planning is greatly debated. Whilst they both have long-term benefits, there are different rules around allowances, tax, and investments for both of them. However, for retirement savers, weighing up the options of a pension vs ISA is a big decision, and one that needs to be carefully considered.
Read the article here.
Preparing for your retirement funds may feel odd if it’s a long way off – or worrying, if you’re close to retiring. Arming yourself with info about investment options helps take away the worry. One consideration is whether you should invest in a SIPP vs ISA. What are they, what’s the difference, and which is better?
Find out here.
The latest research shows that, on average, 21% of men have a stocks and shares ISA compared to only 13% of women. Perhaps more significant is the average amount in these accounts: men have £36,000 in their equities ISA – while women have £23,000. That means that even women who already invest in equities aren’t investing as much as their male counterparts – and could be losing on significant returns.
Read more here.
If you want more control over your investments, it’s time to think about a self-select ISA product instead.
Read more here.
A Lifetime ISA (LISA) can help you buy your first home or save for retirement. A whopping 25% Government bonus gets paid on your savings – who can say no to free money?! Here, we break down the LISA rules and whether you should consider opening one.
The Junior ISA allows you to save tax-free for your kids, and you get an allowance each year of how much you can put in. Even if the amount you can put in stays the same for the next 18 years (which it won’t – it will go up gradually), by the time your child is 18, you could put in £78,624.
Find out more here.
Yes, it sounds like a pipe dream… but according to the experts, savvy investment in your ISA really could see you become an ISA millionaire by the time you hit retirement age. It might not feel like it at the moment, with the threat of negative interest rates looming – but we’re looking at the long-term goals here.
Check it out here.
Innovative Finance ISAs (IFISA) quietly hit the market a few years ago – but what are they, and could they beat the returns you get in your cash ISA?
Find out here.
As we always say, don’t be scared of stocks and shares ISAs! With a little knowledge and a willingness to take (even small) risks, an equities ISA can easily out-perform your cash ISA over the long-term.
Find out more here.
It is the tax treatment of pensions that makes them both an attractive long-term savings option, and a complicated one. Here Adrian Lowery, personal finance expert at Isa and Sipp platform Bestinvest, delves into ten of the tax benefits and dangers pension savers need to know about along with Louise Higham, a chartered financial planner at Tilney, Smith & Williamson.
Read the full article here.
We all get scared of losing our hard-earned money. But you can make your money work hard for you, so that it grows and leaves you with a lovely savings pot for the future!
Rich people don’t get scared the way most of us do – and that’s where the financial difference lies. They’re willing to take a bit of a risk for higher rewards. So, do you want to be rich? Think rich!
Here’s why equities ISAs are where you should put your savings – and how to transfer money into them.
Wondering whether to get a pension or a LISA? We recently collaborated with leading pension provider PensionBee to bring you six podcasts all about pensions.
In this episode of the How To Be A Money Magpie podcast, founder Jasmine Birtles is joined by Clare Barret, Personal Finance Editor at the Financial Times and financial advisor David Braithwaite to look at private pensions and their step-sister, LISAs (Lifetime ISAs). They discuss the pros and cons of both, which is better and whether you should consider having one of each.
For first timers investing your money yourself can feel scary! The word investing conjures up images of suited men shouting into telephones in their plush offices on Wall Street. Thankfully, the reality is much simpler thanks to the internet and the number of stockbrokers offering online trading to those starting out – just like you!
This guide will hold your hand through the process and you’ll be feeling like a market mover in no time.