An ISA is a way to store away money to earn interest or dividends without getting taxed on your earnings. According to most financial experts in the UK, an ISA is an absolute must for nearly every Brit today.
12. If your children’s thoughts are beginning to turn to ivy-covered campuses, you can be ready to pay the bill with the right ISA investment.
13. If you can afford to save for a longer period of time, try purchasing shares ISAs that offer a greater return potential.
14. If your children are nearer to college age, a cash ISA with a competitive rate may be just the ticket for saving for those years of higher education.
15. In addition to the ability to stash money away for tuition, you enjoy the tax break on your earnings that will make college just a little more affordable.
17. Many investors are moving from the traditional pensions to ISAs for a number of reasons.
18. First, ISAs offer more flexibility and options than pensions, providing a greater potential for earnings and the ability to customize your savings to your specific needs.
19. You can save money in an ISA until you get closer to retirement age and then determine whether it makes more sense financially to leave your money where it is or move it to a pension to receive a pension credit.
20. The other advantage to an ISA over a pension is that money can be withdrawn prior to retirement age without penalty if necessary.
21. Of course, less money in the ISA at retirement affects your quality of life during this stage; withdraw with utmost care and only for very compelling reasons, if the purpose of your ISA is to support your retirement years.
23. When you purchase a stocks and shares ISA, you can include life assurance in the mix.
24. This provides you with the opportunity to earn tax-free returns on your initial investment, as well as taking out a life assurance policy that protects your family in the event the unthinkable happens to you.
25. To find a shares ISA that incorporates life assurance, talk to your financial advisor.
26. There are many ways to use your ISA funds, whether you invest for the short term or over the long term.
27. With so many options for your ISA money, it is no wonder this product is so widely recommended by financial experts today.