Nicola Horlick: Investing for the long term with ISAs
Wealth Management export, Nicola Horlick, explains the need for ISAs to Lexikin.
So it’s really important to save for the long term, I think an awful lot of people are going to find themselves, if they don’t save, working until they’re 80 or 90.
So you know if you want to avoid that, it’s really important to think ahead.
When I was running big unit trusts businesses, we were constantly encouraging people to think about monthly savings plans and I would still urge people to do that. ISA’s are a very good way of saving because it puts money into a tax free environment and in fact the ISA allowance is going up very significantly shortly – £15,000 pounds per person, so a couple will be able to do £30,000 pounds a year into to an ISA, so that’s a very significant amount of money and it allows you to shelter a lot of tax if you have money available to save.
So you don’t necessarily have to do in lump sums, it’s really a very good idea to have some sort of monthly savings plan.