Looking after your ISA

looking after your isa


MoneyPlus Features Team

10th March 2015 at 2:55pm

Looking after your ISA

1. To infinity or beyond?

Are you new to investing or a seasoned campaigner who now can’t find the time?

Why not climb aboard and relax with our ‘Easy ISA’. As part of our in-flight service, our award-winning experts will manage your funds for you.

Or are you someone who prefers more control?

If so, then our ‘DIY ISA’ could be the vehicle for you. You can man the controls and choose from over 2,500 funds from leading fund managers.

2. Pre-launch checks

Remember – check your attitude to risk. When travelling through the stock market belt, the rewards might rocket but there’s always the chance of some turbulence and you might get back less than you paid in.

Our online risk questionnaire will help you determine your attitude to risk and indicate which funds might be more suitable for you.

3. Fuelling your mission

Figure out what you can afford to put in the tank and keep it topped up.  Small, regular payments are great ways of making a difference and you can always fuel inject your finances with a single payment of £500 minimum. The more fuel in the tank, the quicker you could achieve your mission.

** Over a 3 year period, £10,000 invested in the SLI MyFolio Managed III Fund grew to be worth £13,488.


4. Up and away

Now you’ve launched, you need to keep in touch with mission control. Online servicing should provide you with all the in-flight checks you need to help your mission run smoothly.

5. Check your trajectory

During your mission, you should continue to check your ISA value regularly to make sure you’re still on track. Make sure you regularly review your goals and risk appetite.

6. Dipping in and out of orbit

What if you need to dip into your savings?We’ve made it easy for you to withdraw money should you need it – just give us a call. You can keep your money with us for as long or as short as you like.

7. Use your boosters

See if you can afford to increase your regular payments.  Ad hoc top ups from as little as £50 a month might make the difference. And if you find you’ve some money in reserve, popping it into your ISA could give you a boost and make your savings work harder.

8. The docking station

If you’ve other ISAs in orbit, it’s always worth thinking about bringing them on board too. This can give you increased control of your mission as it makes your finances easier to manage and monitor.

9. Preparing for touchdown

Keep an eye on your gauges through online services and select the best time to take your cash. If you’re enjoying the journey, there’s no need to return to base – you can save into your ISA for as long or as short as you like.

* 4.5 million people are cash and stocks & shares ISA holders (Source – HMRC – April 2014)


10. Your next mission

As you’re now an accomplished ISA astronaut, why stop? Start programming your next mission!

*Average value of a Stocks and Shares ISA is £6,163. (Source – HMRC, August 2014)


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