Look at your finances

A good starting point is to look at your current Cash ISA holdings and ask yourself whether you have had them for more than five years.

If you answer yes, then cash may have unwittingly become part of your long – term investment strategy.  Holding your wealth in cash is the right thing to do if it’s money you might need in the short term.  But over the longer term, if your Cash ISA savings aren’t keeping up with inflation then your future spending power is reducing.

Benefits of a Stocks and Shares ISA

A Stocks and Shares ISA gives your money more potential to keep up with inflation. From September 2022 you will generally find it hard to find a rate on an instant access cash ISA that exceeds 1%. While you’re balance might be growing on paper, with inflation reaching 8.2%¹ the spending power of your money will actually be reducing with each year that passes.

We are here for you

Increasing your exposure to the stock market can be daunting. But this is where advice can really help.

So, before the end of this tax year, have a discussion with a financial adviser at Vibrant Wealth Management about whether or not Stocks & Shares ISAs might be more suitable to play a bigger role in your financial planning. It might mean investing in one for the first time or diverting some of your current Cash ISA savings into stocks and shares.

The value of an ISA with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than you invested.

An investment in a Stocks and Shares ISA will not provide the same security of capital associated with a Cash ISA.

The favourable tax treatment of ISAs may not be maintained in the future and is subject to changes in legislation.

Cash ISAs are not available through St. James's Place.

1. Office for National Statistics September 2022