Be An ISA Millionaire

Be A Millionaire

Do you want to be an ISA millionaire ? How long will it take you to be an ISA millionaire ? Here in the UK we have a fantastic tax free savings scheme called an ISA (Individual Savings Account) which allows people to save up t0 £15,000 per year in a tax free account. No tax on interest earnt, no tax on capital growth or dividends The only tax on these accounts Inheritance tax when you die Prior to July 2014 you could save a maximum of £5,640 in a cash ISA - which enabled you to save in a deposit style account And a maximum of £11,280 in a stocks and shares or investment ISA which enabled you to save in Unit or Investment Trusts, stocks and bonds. Yesterday the rules changed, … [Read more...]

Saving Or Investing ?

Saving Or Investing

I've read quite a few articles and blogs recently which seem to confuse the two separate principles of saving or investing. In my opinion Savings and Investing are two different things. Saving can mean reducing the amount of money or time you spend on something but when comparing saving to investing I think that saving can be described as putting money aside in cash, or deposit style account. These savings accounts carry little to no investment risk (eg you won't make a lot, but you won't lose much either). You can either make a nil return - by stashing your savings under the bed or a safe but low return from a bank or deposit account. Investment involves risk and chance - plus … [Read more...]