Oh to be rich. If you were then you’d have people doing things for you like deciding what to do with your money to make it ‘efficient’. By that they mean it’s hidden from the tax man as much as possible and (hopefully) in legal ways. There’s a lot of people out there that will be able to tell you what’s best, so there’s no need for us to go into that territory.
However, with that said, we know from our subscribers list there’s a mix of investors looking at our writing, and we’re proud of that. We know there’s some very well respected Investors that regularly peruse our newsletter, rubbing phones with novices and DIY investors that are just trying to do the best they can with limited investment capital and time.
Every one of our newsletter readers might well have seen the thirsty work over the last few weeks whereby everyone who provides an ISA is out to get your attention. ISA’s run yearly and you’re allowed to squirrel away £20K a year - for some they will never hit that amount, for others it’s not enough. But a start is a start, I’d be amazed if everyone of our subscribers doesn’t have an ISA of some sort, and if they don’t, I’d be even more surprised if it wouldn’t do something good for them if they did.
ISA providers are falling over themselves to get you to deposit your allowance asap as it’s good for them and you, if you can top up to the yearly amount. They don’t want you to miss out (or them to miss out on fees). So at this time of the year, best to see what you can do as when you don’t use the allowance, it’s lost, and will then move on to the next year’s allowance.
We have a mix of writers here at HindeSight Towers and some have full ISA’s for them and their partners, other’s have JISA’s for children and some have accounts with Freetrade that they’re busy throwing every share purchase under to eek out the very best they can for their savings, hoping one day to hit the hallowed £20K by growing their portfolio. Rotating purchases through that account will save you a lot of taxes - buy in your ISA, sell into your ISA and keep the cash in that wrapper ready to purchase again. If you’re under the £20K that’s a good way to build and a methodology we’re fans of.
Partnered with our education, there’s opportunity for sure. We make nothing extra if you have an ISA, but we’d certainly suggest you look at them. Imagine the below table being set to revolve shares in and out of an ISA, yearly. This is the scenario we imagine a lot of our readers will be thinking of, so this post is just to make sure we’re on the same track. Oh and don’t forget your ISA allowance runs out today… (5th April) DOH. Next year will be our £20K year for sure…
ISA season starts tomorrow, so let’s get a movement to get to their £20K allowance. Share our subscription out to as many as possible and let’s grow together.
Oh and here’s a quick post that we enjoyed. Need a bit of light relief…
Happy Investing.
The Team at HindeSight.
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