There used to be two types of ISA available, now there is an abundance of different options for all situations and it can be difficult to work out which one is best for you.
The premise of any ISA remains the same, in that it is a tax-efficient environment for your savings to grow, which will be free of tax when withdrawn.
Before you decide on which ISA to invest in, make sure you have a clear objective for the funds, including how long they will be invested for and how much you will invest, either monthly or as a lump sum and how much risk you are willing to take with your investment.
Choosing where to hold the ISA is also important, it should be reputable and offer all the functionality and access that you need, as well as having reasonable charges.
The choice of investments is very important and the only advice we can give without knowing your circumstances is to ensure you diversify your investments to minimise risk.
Our best advice would be to seek the help of a professional. As Financial Advisors, Redwood Family Wealth & Estate Planners are well versed in investment accounts as well as seeing how they fit your circumstances, objectives and other investments. Having the knowledge and expertise of a Financial Planner behind an investment really does make a big difference to you achieving your financial planning goals.
Redwood is one of the Souths’ leading Pensions, Investments, Wills, Trusts & Estate Planning providers and we are dedicated to helping families to grow, protect and enjoy their wealth. With our unrivalled knowledge of Estate Planning and Probate, we can advise on any situation. Join us at one of our Free Public Information Seminars: Book online Book Me A Place!, Call us on 01489877 547 or Email info@redwoodfinancial.co.uk to book a no-obligation Initial Meeting with us to review your financial planning needs.
