Investments & savings 

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Investment and savings, Yorkshire

CHFP investments and savings guide

There are many different types of investment and savings options within the UK.
The product that is right for you depends on the amount that you have available to invest and how much risk you are prepared to take.

Our financial advisers can help you decide which savings and investment products best suit your needs. You can contact us to discuss your saving and investment needs further.

An ISA is an Individual Savings Account that enables you to save or invest money without paying tax on the interest or on the investment returns you receive. To open an ISA, you need to be a UK resident for tax purposes and aged 16 or over. For some ISAs, you may need to be 18 or over.

For each tax year, there is a limit to the amount you can deposit into your ISA which is your annual allowance. The ISA allowance for the 2017/2018 tax year is £20,000, which you can invest in a cash ISA, an investment ISA, an innovative finance ISA, or a combination of the three.

Cash ISAs are often more suitable for short term investing, typically less than five years, whereas a stocks and shares ISA is usually regarded as more suitable for longer term investing, typically for more than five years.

Stock market investments can fall in value as well as rise so you could get back less than you invest. Over the longer term, they can deliver significantly higher returns but they are higher risk. Please remember past performance is not a guide to the future.

None of us likes to gamble with our hard-earned savings but the truth is there is no such thing as a no risk investment. Money you place in secure deposits such as savings accounts risk losing value in real terms (buying power) over time. This is because the interest rate paid will not always keep up with rising prices (inflation).

Whole of life cover pays out an agreed sum whenever you die whereas term insurance pays out a lump sum if you die within the specified term of the policy.

However, index-linked investments that follow the rate of inflation do not always follow market interest rates. This means that if inflation falls, you could earn less in interest than you expected.

Stock market investments may beat inflation and interest rates over time, but you run the risk that prices may be low at the time you need to sell. This could result in a poor return or, if prices are lower than when you bought, losing money.

For those people who have maximised their ISA allowances already or who wish to invest additional funds, we can recommend different types of investments. For example, we have access to general investment accounts which can invest in a variety of funds and also be switched into ISAs in the future to maximise their tax efficiency.

We also have access to other investments such as investment bonds and through the advice we provide at Cricket Hill Financial Planning, we can help identify the best solution for your needs.

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