What do you recommend to a first time ISA investor?
23 March 2022
Question by David
First time investor in an ISA, what do you recommend?
Answered by Boring Money
Thank you for your message. Although we cannot provide a personal recommendation here, you might find the information below useful.
On the Boring Money website, you can compare ISAs and even enter the amounts you're looking to invest. This will produce a list of the best-rated ISAs.
When investing, have a good think about why you're investing and your long-term financial goals. Once you have found your preferred provider, you'll need to think about how you're going to invest and how things ties-in with your long-term plans. Investing should be a long-term plan (5 years+).
Diversifying your investments is normally a good idea - spreading your funds globally and through different industries. Some providers will offer a process for finding the most appropriate funds for you, based on your risk tolerance and objectives.
Alternatively, a financial planner could help arranging an ISA and provide advice on the best investments.
I hope that helps for now.
Have a great day!