Axa Investments
What is the best investment plan out there?
I am 24 years old and interested in using an investment plan or fund to save some money for the future. I already have an ISA account, but that does not allow me to actually save money as I am still able to dip into it when I need to. I have heard of companies such as AXA and was just wondering what the best/ reliable company or investment plan to use is if I want to save money every month. I only want to save about £20 or £30 every month if I can. Please provide websites if possible.
Thanks
actually an ISA should ALWAYS be the 1st tool in any savers or investors arsenal. the reason is because ISA’s are tax free therefore any other investment vehicle will have to give a considerably higher rate of interest to match the ACTUAL savings in an ISA. Also if you are “dipping” into your ISA you are really not using it to its potential as any money you take out is still taken into consideration for the total you can put in an ISA per year eg. if you put £3600 in an ISA then took out £600 the following month you cant then top up the ISA with a further £600 until the next tax year therefore losing interest on £600
If you want something which wont allow you access to your capital for a set period consider N&SI as these are government backed bonds that lock away your capital fo a set period
hope that helps
Chris Manser, Global Head of Hedge Funds, AXA IM: Why institutions invest in hedge funds (1)