The annual Individual Savings Account (ISA) deadline is fast approaching, and once again if you don’t sort out your ISA before 6th April, you will lose your allowance for this tax year.
Whilst this might not be of interest to the vast majority of us who are struggling to save anything, if you are one of those lucky people who can afford to worry about maximising their annual ISA allowance, even though there is only a couple of weeks left, that’s still plenty of time to choose and invest in an ISA.
With interest rates at all-time lows, most cash ISAs are only paying low rates, which is tempting some people to consider stocks & shares ISAs once again. The stock markets are obviously still very unsettled, but the thought is that over 5 to 7 years (and maybe more), which is the sort of timescale you should be looking at for investing in an ISA, then the current low level of the FTSE should allow for plenty of growth over that period. Of course, this is not guaranteed, but that’s what past evidence should suggest.
If you’ve decided to take the plunge but are unsure where to invest, you may wish to find out where the experts are investing their money in this Independent article.
photo credit: quinn.anya
- Moneybox: Save & Invest With As Little As £1 (September 2, 2016)
- Munnypot Digital Financial Advice Service Launches (January 12, 2017)
- Plum, AI Facebook Chatbot For Saving & Investment (February 22, 2017)
- NatWest Invest: NatWest Launching Online Investment Service (February 9, 2017)
- 10 Simple Money Savers You Shouldn’t Ignore (June 18, 2016)