ISA

If you’re wondering which ISA might be right for you, here’s a quick breakdown of the different options:Cash ISA – The simplest type, this works like a regular savings account but with the benefit of tax-free interest. It’s ideal if you want to keep your money safe while earning some extra interest.Stocks & Shares ISA – A great option if you’re looking for long-term growth. It lets you invest in shares, bonds, and funds, with any gains protected from tax. While returns can be much higher than a Cash ISA, there’s also more risk involved.Lifetime ISA (LISA) – Designed to help people save for their first home or retirement, the government adds a 25% bonus to your contributions. Just keep in mind that withdrawing money early for reasons other than buying a house or retirement comes with penalties.Innovative Finance ISA – This one is quite niche and lets you invest in things like peer-to-peer lending. The potential returns are higher, but it also carries more risk, as your money isn’t protected in the same way as other ISAs.Junior ISA – Created for under-18s, this allows parents or guardians to save up to £9,000 per year tax-free. The money stays locked until the child turns 18, when they get full control.More information on ISAs can be found in our blog. The link is below;https://www.talisifa.com/celebrating-25-years-of-isas…/