Most of us know that ISAs are an excellent and tax efficient way of accumulating wealth.
During retirement, ISAs are also very useful for providing a tax efficient income to supplement your pension income. Approaching retirement, growth funds can be switched to income yielding funds, which could also be lower risk funds. Your accumulated ISA investments can therefore be used to provide an income, entirely free of income tax!
From 6th April 2010, the ISA allowance is £10200 for everyone.
With the new annual allowance of £10200 (That’s £20400 for a couple), there is now an excellent opportunity to accumulate significant ISA assets to improve your wealth in later life.
For more information on this and other tax efficient investments, please contact Barry Sears at Professional Wealthcare.
This article is intended for guidance only and is not advice.
Remember, it is important that you seek a personal recommendation before choosing a plan that is suitable for your needs.
Investment returns may go down as well as up.