Ignore Isas at your peril, says JEFF PRESTRIDGE
Ignore Isas at your peril, says JEFF PRESTRIDGE: The Tax-Free Savings Account is your secret weapon to paying for that dream vacation
We live in difficult times financially. Bills and taxes continue to rise, while higher interest rates are a double-edged sword, providing financial comfort for savers but discomfort for homeowners with mortgages.
At In times like these, it may seem appropriate to set aside long-term savings. Indeed, for some it is the only course of action available.
But, if you can, I urge you to keep an eye out for future and keep saving through thick and thin.
Fortunately, as the nation's finances and ours remain strained, we have a government that encourages us to save. It does this by giving us generous tax breaks on the money we put into our business or personal pension. It also allows us to build wealth in an individual savings account, a form of tax-free packaging.
While most 'between us are automatically enrolled by our employer in a pension plan, the same grip does not apply to Isa.
No one will you push into an Isa. You can create them, fund them, and at some point access them when needed, whether it's to pay for the vacation of your lifetime, a new car, or to supplement our retirement income. It's up to you.
> The incon...
We live in difficult times financially. Bills and taxes continue to rise, while higher interest rates are a double-edged sword, providing financial comfort for savers but discomfort for homeowners with mortgages.
At In times like these, it may seem appropriate to set aside long-term savings. Indeed, for some it is the only course of action available.
But, if you can, I urge you to keep an eye out for future and keep saving through thick and thin.
Fortunately, as the nation's finances and ours remain strained, we have a government that encourages us to save. It does this by giving us generous tax breaks on the money we put into our business or personal pension. It also allows us to build wealth in an individual savings account, a form of tax-free packaging.
While most 'between us are automatically enrolled by our employer in a pension plan, the same grip does not apply to Isa.
No one will you push into an Isa. You can create them, fund them, and at some point access them when needed, whether it's to pay for the vacation of your lifetime, a new car, or to supplement our retirement income. It's up to you.
> The incon...
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