💸 For many under 30s, saving for the future can get relegated behind the immediate demands on your cash.
📈In the first part of our new series, our finance experts look at how young savers with £10k can hope to grow that pot to £50k.
Thread 👇 telegraph.co.uk/investing/fund…
📈In the first part of our new series, our finance experts look at how young savers with £10k can hope to grow that pot to £50k.
Thread 👇 telegraph.co.uk/investing/fund…
💰 Investing 💰
With rates on savings accounts paltry, young savers who won't need to use the money for five years should look to invest it in shares or funds.
➡️A stocks and shares Isa will make any gains tax-free
Find the best low cost Isas here 👇
telegraph.co.uk/investing/fund…
With rates on savings accounts paltry, young savers who won't need to use the money for five years should look to invest it in shares or funds.
➡️A stocks and shares Isa will make any gains tax-free
Find the best low cost Isas here 👇
telegraph.co.uk/investing/fund…
➡️ Investors with a £10,000 starting pot can also expect to dramatically shorten the time taken to reach their £50,000 target by supplementing the pot with regular savings.
Investing a further £500 each month can double the value of your portfolio
Investing a further £500 each month can double the value of your portfolio
📈For investors under 30 looking to grow their money as quickly as possible, Adrian Lowcock, a finance expert suggested funds investing in:
💵Smaller companies
📱Technology stocks
💵Smaller companies
📱Technology stocks
🏡 Saving for a house 🏡
For many under 30, buying a first home will be a focus.
💰For these savers, a Lifetime Isa will be the best option as it includes a 25% Government bonus on top of your own cash.
Investors can put a maximum of £4,000 per year into the scheme
For many under 30, buying a first home will be a focus.
💰For these savers, a Lifetime Isa will be the best option as it includes a 25% Government bonus on top of your own cash.
Investors can put a maximum of £4,000 per year into the scheme
📅 Thinking long term
Adding money to a pension is a sensible long-term option, as it comes with a big tax benefit, even if retirement feels some way off.
➡️Basic-rate taxpayers who invest via a pension will receive 20% tax relief from the government
Adding money to a pension is a sensible long-term option, as it comes with a big tax benefit, even if retirement feels some way off.
➡️Basic-rate taxpayers who invest via a pension will receive 20% tax relief from the government
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