UK Inflation just reached a 40-year high of 9%, which means any money saved in your bank account, will buy a staggering 9% less than a year ago.
One way to tackle this is a stocks and shares ISA (Individual Savings Account). They offer a long-term, tax-free way of investing up to £20,000 per year, (£9,000 if you want to gift money to a child/grandchild), while allowing you to access your money when you need it. And unlike cash ISAs, with current rates less than 1% (well below the 9% needed to tackle inflation), stocks and shares ISAs offer a more diversified way to protect your money against inflation, while providing the flexibility to choose the level of risk you feel comfortable with. Watch the video for more.
All investment views are presented for information only, are not a personal recommendation to buy or sell and are based on our understanding of HMRC rules in April 2022, which are subject to change. Seek personalised advice before taking action or conducting estate planning. Investing involves risk and the value of your investments, and the income from them, may fall as well as rise and you may get back less than you invested. Past performance is not a reliable indicator of future results.