How to save or invest in an Isa and why it's worth doing

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 19 March 2021

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What’s the point in an Isa? This is a regular grumble as savings rates are now so low that earning 1 per cent would be a big deal.

But wouldn’t you rather have all of a small amount instead of a small amount minus tax?

And if you are investing, an Isa makes a lot of sense – embracing your gains and dividends in a nice tax-free wrapper.

On this week’s podcast, Georgie Frost, Lee Boyce and Simon Lambert talk Isas: from the classics, cash and stocks and shares, to the upstarts the lifetime and junior strands.

The team discuss why an Isa is worth having, even a cash one when the personal savings allowance exists and rates are rubbish.

And Simon gives his quick guide to investing easily in an Isa, with a whistle-stop tour through the ‘why, how and what’ that could help you grow your wealth long-term.

The team also discuss whether a lifetime Isa is worth having and whether a junior Isa or a slice of your own is the best place to save for children.

And finally, if you’d like to both turn a profit and make your money do some good, what about ethical investing?

Is the ESG label (environmental, social and governance) just a marketing ruse and how ethical are these funds? We run through the spectrum of investments that try to be ethical and give some ideas on what might fit the bill

Transcript

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0:00.0	Welcome to This Is Money Podcast. I'm Georgie Frost and alongside me and editor Simon Lambert. Today is assistant editor Lee Boyce. And coming up, it's the time of the year that used to get Lee all of a fluster. But is there much about Isis season anymore to turn his little cheeks rubby again? Yes, say the team. So we'll be discussing falling back in love with the ICER, the different
0:21.6	types, where you can get the best rates and some tips for investing whatever your level of
0:26.8	confidence. Don't forget to up to date with all the latest breaking money news, just go to this ismoney.com.
0:31.3	UK or download the app. But firstly, Lee, I'm unsurprisingly going to go to you first on this. Because regular listeners,
0:39.0	and when I say regular listeners, I mean those who've been with us for the full seven years plus.
0:45.7	I used to joke, Lou, in the early days, that you would get so excited. Your cheeks did go a little
0:51.5	bit rouge when you started talking about ISIS.
1:00.2	Why? Why do personal finance journalists get so excited at this time of the year,
1:03.8	especially when you think about things like the personal savings allowance, rubbish rates, etc?
1:07.9	Are they worth getting excited about anymore?
1:11.8	Well, Georgie, I would say that over those seven years I've mellowed somewhat over IACs, I'm afraid. Yeah, I used to do the sort of, I used to do like a top five
1:16.3	countdown of like the best rates. In between March and May, we used to have banks, building societies
1:21.2	all clamber over each other to offer Best Buy cash rise rates and raking some some money.
1:29.9	And reason why personal finance journalists, you get so excited about this is a twofold thing really firstly it's actually a good product
1:34.9	you know it's a rare thing i would say it's great to be able to save tax free it's great to be
1:39.6	able to shelter your money from the tax man but secondly our readers I readers care. You know, people wanted to read
1:45.0	about what the best rates were, where money should go and all that kind of thing. Now, we can say
1:48.9	cash-reiser season is definitely a dead dark. It's done. And actually, in the last six months
1:54.4	of last year, there was a record exodus of cash-izer money, almost five billion quid,
2:00.8	according to Bank of England stats.
2:02.1	So it shows you that there's cash rises.
2:04.3	Where was that money going?
	...

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