There are many different ways to save for your future. The
product you choose depends on your individual attitude towards
risk, saving for a particular event, your life plan and when you
need to gain access to your money.
product you choose depends on your individual attitude towards
risk, saving for a particular event, your life plan and when you
need to gain access to your money.
Different investments carry different levels of risk and potential
returns. M3 can search the market for the perfect product for you.
- For most UK taxpayers, their first choice for savings should be a cash ISA.
This is a savings account that pays interest tax-free. Once you've paid in
your ISA allowance, you can't add any more even if you take money out.
- Some private individuals or companies have large cash funds on deposit and there
can be favourable offers available, whilst still giving access.
- It is now possible to transfer money held in a Cash ISA to Stocks & Shares ISAs
without affecting your annual allowance or the tax status of the investment
- Investments differ from savings in that you don’t usually know what return you will
get. With this extra risk comes the opportunity of potentially making more money.
Some, but not all, investments guarantee that you’ll get your original investment back.
- Investments should be made either as a lump sum or on a regular basis, ensuring that
you can afford to tie up your money for the medium to long term, ideally five years
or more. M3 can ascertain your level of risk using a personal risk profiler and then
advise you on where in the market place you should invest your assets.
- One of the simplest ways of investing in stocks and shares is to get a Mutual Fund.
This is where a fund manager makes the decisions for investors, such as the most
suitable stocks and shares to invest in. There are lots of types of Mutual Fund but
the most popular are Unit Trusts and OEICS (Open Ended Investment Companies).
- You will also hear terms like Cautious, Ethical or Balanced; these describe the style
or approach that the fund manager will take when managing the Mutual Fund.
The funds that you invest in will depend upon your attitude to risk.