When thinking about savings & investments it is first good to know your level of disposable income. This is the income left over once you’ve paid all of your bills and essential items.
Once established this money can then be used to achieve short, medium or longer term financial goals. You’ll probably want to keep some of it accessible for short term uncertainties, whilst the remainder can be ‘locked away’ for varying periods of time to achieve your medium and longer term goals.
Many other considerations also come into helping you plan including your lifestage, attitude to risk and the goals you have.
At Imperial Financial we help you think all of this through both emotionally and logically and provide access to the following savings and investments plans:
- Saving plans – Individual Saving Accounts (ISAs). An ISA enables you to accumulate savings in a tax efficient manner as gains are virtually tax free, making this particularly attractive to higher rate taxpayers. An ISA can contain cash deposits, investments in equities, bonds and collectives. Currently, the maximum investment into ISAs is £20,000. An individual can invest in two separate ISAs covering cash, and stocks and shares, so long as the total remains with the overall limit. Withdrawals from an ISA can be made at any time without loss of tax relief. Information regards taxation levels and basis of reliefs are dependent on current legislation, individual circumstances are not guaranteed and may be subject to change.
- Investments bonds – The Investment Bond is a lump sum investment providing an element of life cover and the potential for capital growth, whilst still allowing you to make withdrawals from your investment. There’s no set investment period for the bond. It’s been designed as a medium to long-term investment (at least five to ten years), though you can keep it for as long as you want. You can choose from a wide range of funds. The funds can invest in a range of stocks and shares, government stocks and commercial property in the UK and overseas. Each fund is made up of units and we use your investment to buy units in the fund(s) you choose. The range of investment funds that you can invest in carry different types and levels of risk which we can advise you on.
Request your free initial consultation now, get in touch via our contact page.
