Your Investment Options - ISAs

Everyone in the UK has a Β£20,000 annual ISA allowance, which you can use to invest in stocks and shares or to save in a cash ISA (or a mix of the two) πŸ™ŒπŸΌπŸ™ŒπŸΏπŸ™ŒπŸ»πŸ™ŒπŸΎ

Investing or saving into an ISA product means that it is protected from tax so you will not have to pay tax on the profit you make.

Investing doesn’t have to be just for those with lots of money. There are many free websites with fund and stock market information to get you started.

For example, Interactive Investor has beginner’s guides on different investments and shows the top 10 funds, bottom 10 funds and the 10 most traded funds on its website monthly.

Do be aware of the fees with stocks and shares investments in general. This may include platform charges, fund manager charges, costs to buy or sell a fund on a platform and in some cases, transfer platform fees.

Fees tend to be higher for funds that look to actively invest and manage money on your behalf, while those that invest in ways that passively track the market tend to be cheaper.

If you’d like a professional to make investment decisions for you based on your preferences, platforms like Evestor might be an option. It has one of the lowest investment charges at a max of 0.13% on top of a platform fee of 0.35%.

For those looking to make investment decisions with the option of having some help, Cavendish Online offers 12 different portfolios with three risk options of low, medium and high and is one of the cheapest on the market.

If you already know which funds you want to invest in, it’s probably cheaper to go direct, eg Vanguard have lots of funds and it’s almost always cheaper to buy direct with them.