If you can find a way of putting your money into an account that gives you a return above the inflation rate, then you have growth on your savings. The
challenge is to find these accounts. Do you invest in the volitilities of the stock markets or in safer deposit accounts? Each investment has its own level of risk. There is no guarantee that you
will make money. In general:
- The greater the risk, the greater the potential for reward or loss.
- The greater the ease of access, normally the lower the reward.
We take several factors into consideration when discussing your savings, investments, pension or annuity. Your Attitude to Risk is important, what would your reaction be if your investment went down in
value?, can you afford to lose any of your investment? Everybody is different, so we start the process by completing a detailed Factfind which is unique to you, this is done to find what your
affordability, aspirations and financial goals are.
As a starting point, you should be taking advantage of tax-efficient investments such as the New Individual Savings Accounts (NISA). Your NISA
limits for tax year 2015/2016 are:
- Overall limit £15240
- Cash ISA £15240
- Stocks & Shares ISA £15240
- Junior ISA £ 4080
From 6th April 2015, savers have an annual allowance of £15240 and can put as much of it as you like into any combination of cash and/or stocks and
shares.
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