Individual Savings Accounts (ISAs)
Choosing an ISA that Suits Your Needs
Perhaps the first consideration when choosing an ISA is what you are saving for. Do you have a short-term goal, such as home improvements and holidays, or are you planning to save for retirement or your children’s education? At Approachable Finance we help clients understand the risks and returns of both cash and fund ISAs, and we have a great track record of high-performing TAX-FREE returns for our clients.
How Much Can You Invest?
As of April 2015 you are able to invest up to £15,240 per annum. You can also choose whether to invest wholly in cash or fund ISAs, or spread your money across each.
How Collective Investments Work?
Collective investments enable individual investors to pool resources with other investors and retain a wide range of stocks and shares that are managed by a professional fund manager. For investors starting out, unit trusts and Open-Ended Investment Companies (OEICs) represent a good way of spreading the investment risk, providing the opportunity to invest relatively small amounts in the beginning.
Choosing Unit Trusts and OEICS
While the risk to your money is spread, the value of Unit Trusts and OEICS can down as well as up. At Approachable Finance we help clients understand the potential benefits and risks with tailored investment strategies.
A More Stable Investment?
Bonds are seen as a less risky investment than stocks and shares as they are effectively a loan to a company, organisation or government on which interest is repayable. For the most part bonds provide a more stable and reliable investment, and in some cases, can be purchased with a guarantee that the return will at least match the original investment. Most investment bonds are whole of life, with minimum investment levels of between £5,000 and £10,000.
Help Choosing Bonds
Like stocks and shares, the value of Bonds can down as well as up. At Approachable Finance we help clients understand the potential benefits, risks and tax implications before advising on an appropriate bond strategy.