Contact Us

 

Whittaker Financial Solutions Limited


Tel: 01254 66 46 00
Email: info@whittakerfs.co.uk


Address​​​​​​: Suite 32/33 Manor Court

Salesbury Hall Road

Ribchester

PR3 3XR

 

 

SAVINGS & INVESTMENTS

What is the difference between Saving and Investing?

 

  • Saving is putting money aside bit by bit, to make a lump sum. You usually save for a particular goal, like having the money for a holiday, a deposit on a house, or any emergencies that might crop up. Often saving is taken to mean putting your money into cash products, like bank and building society deposit accounts.
  • Investing is taking some of your money and putting somewhere with the aim of making it grow, by buying things that might increase in value, like stocks, property or shares in a fund.
NISA - New Investment Savings Account

 

As it says on the tin, a New ISA (individual savings account) is the same as an ISA - just new, and better. A NISA is essentially a tax-free wrapper with a given annual limit that you can invest. 

 

Just like regular savings accounts, you can choose from a fixed rate NISA, which pays a set rate of interest for a certain period of time with restrictions on withdrawals, or a variable rate NISA where the rate of interest can go up or down, but you retain access to your savings.

 

The only major difference between cash ISAs/NISAs and other cash savings accounts is that returns paid are tax-free.

Stock and Shares ISA
 
Stocks and shares ISAs are a tax-efficient home for your savings. It’s worth bearing in mind that any investment in the stock market, whether managed on your behalf or otherwise, should be seen as a long-term proposition. 
 
Unlike a Cash ISA, a Stocks and Shares ISA lets you choose how your money is invested – giving you access to a wide range of investment opportunities. At Whittaker Financial Solutions our Advisers will guide you through the various options and find the best product for your investment.

 

Bonds
 

A savings bond is basically a more restrictive type of savings account which, because of this restrictiveness, generally pays more interest in comparison.

 

Be careful not to confuse a savings bond with an investment bond. With a savings bond, your money is safe from decreasing in value due to a poorly performing investment; this may not be the case with an investment bond which is connected to the stock market, which of course can go down in value as well as up.

 

 

SIPP - Self Invested Personal Pension

 

A SIPP is a DIY pension. Traditional personal pensions limit your investment choice to a shorter list of funds normally run by the pension company's own fund managers. With a SIPP you can invest almost anywhere you like and choose your own investments.

 

But with that flexibility comes responsibility. A SIPP is for someone who understands investing, does the research and is happy to spend some time working at it. If you make the wrong investment choices, you've only got yourself to blame, so you must feel comfortable managing your own investment portfolio and picking your own investments.

 

Whittaker Financial Solutions will help you find a SIPP that best suits your needs for the future. 

© 2014 by  Whittaker Financial Solutions Ltd

Whittaker Financial Solutions Limited is authorised and regulated by the Financial Conduct Authority and are entered on the register under FCA Firm Number: 409239

 

Registered in England and Wales with Company Number: 5090793