money-hacks on Nostr: Any person looking to #invest in the 🇬🇧 has to understand what ISA accounts are ...

Any person looking to #invest in the 🇬🇧 has to understand what ISA accounts are and the power these give you


1. ISAs are tax efficient

All the returns from your #investments is tax free for life - this includes capital appreciation, #dividend income, etc.


2. ISAs have £20k annual allowance

Each year you can add up to £20k into your ISAs. This allows you to accumulate #assets in a #tax efficient way for many years to come. #Compounding will become your biggest friend on this journey


3. ISAs offer flexibility

You can choose to #invest in stocks and share, indexes, hold cash assets. You can also have accounts with multiple providers to diversify even further


4. ISAs allow to access your money whenever you need it

There is no time or age restrictions as to when you can access your #money. The only exception to this is LISA which can only be used for your first home or after 60 years of age


5. ISAs are easy to manage

You can easily manage these. Most providers have easy to use apps. There are also ready made products for you to #invest into in order to reduce the complexity linked to you becoming fully in charge of your personal #finance