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5 reasons to open a Stocks & Shares ISA
Whatever you’re putting money aside for, there’s likely to be a role for Individual Saving Accounts (or ‘ISAs’). Low interest rates on cash savings since the financial crisis have meant that many savers have turned to the markets in the hope of achieving a better return. Although investing means taking risks with your money, this is not necessarily a bad thing – more risk could mean better returns. But if you are going to invest, you need to be prepared for the fact that you could lose some, or even all, of your savings. If you’re looking to grow your money over many years – perhaps to fund a dream purchase or help you in retirement – cash might not be the right option. If you are able to accept some level of risk, investing in the markets through a Stocks & Shares ISA might offer you exposure to higher returns than cash alone can deliver.
If you invest your money, you have much greater potential for growth than you do if you leave your money in a savings account. In the current economic climate, with interest rates still around record lows, you could be losing out by keeping your money in a savings account because inflation will eat into your returns, meaning you could lose money in real terms. To find out more about your investment options, please contact us. Read more