Holly Mckay
Holly MackayFounder and CEO
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    • Home • Investing for beginners
    11 Dec 2020

    Lesson 6: Why ISAs are the no-brainer for most of us

    The below 8 minute audio file will tell you everything you need to know about an ISA to get started with confidence.

    ISAs are lovely! They keep your savings tax-free. We can all put from £1 (in some) to £20,000 a year into a cash and/or stocks and shares ISA each year.

    Don’t forget the pension too

    If you want easy access to your money, and have no material investments elsewhere, ISAs are the no brainer account for beginners. Although do consider the benefits of a pension alongside the ISA – sure your money is locked away till you are 55+ BUT you get nice freebie top-ups from the Government in a pension. For example, a basic rate taxpayer will get 20p from the Government added to their pension account for every 80p they pay in. There are Ts and Cs attached so read up on this but pensions are a compelling saving vehicle for those with longer timeframes – especially higher or additional rate payers who get even more generous tax relief.

    ISA – your flexible friend

    The ISA versus a pension is not an either or decision. Any money you can set aside until you are 55+ could go to a pension. And ISAs give you that access and flexibility for money you might need sooner.

    Listen in for details, facts and some cunning tips.

    1. What’s available - Cash vs stocks and shares ISAs

    2. Why it matters how long you are saving for

    3. How much you can put in and the deadlines

    4. The tax benefits

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    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
    Risk warningAs is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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