Despite the fact that interest rates have remained the lowest that they have been in the last two decades, with the base rate sitting at 0.5%, it is still never a bad time to save money for the future and one of the best ways to do so is with an Individual Savings Account, referred to as an ISA.
Essentially an ISA is a savings account that is tax free, allowing a customer access to their funds whenever they are needed without tax penalties, although there is a limit to how much can be placed into the fund every year.
In order to start a stock or share ISA the only requirements are that you are a UK citizen and over the age of 18. A stock and share ISA is designed to let an investor play with the stock market and speculate with where the best investments lay with the savings in their fund.
Within the wide product range for those who want to start trading ISA funds there are a variety of different choices including unit trusts, investment trusts, shares, government bonds, and any cash that is being held for future investment, although these funds are usually best held in a cash ISA.
There are also a few other investment opportunities but it is best to sort through these additional options with the help of a financial advisor. Some ISA providers can also offer different specialised investment opportunities that a direct investor will not be able to take advantage off on their own.
This wide array of options allow most investors the chance to choose their own type of investment strategy that can be either aggressive or low risk depending on what they are most comfortable with when it comes to their own funds.