Timing pays off for the early bird ISA investor.
Early tax year ISA investors could be thousands of pounds better off, according to research by Fidelity International looking at the investing habits of hypothetical ISA investors over the last 10 and 20 years.
The study concludes that if you were an ‘Early Shirley’ and invested your full ISA allowance on 6 April for the past 20 tax years, you would be nearly £12,000 better off now than ‘Last Minute Lara’ – someone who had waited to invest on the last day of each tax year.
With not everyone able to afford the full ISA investment in one lump sum, investing like ‘Monthly Monty’, who drip-feeds money into an ISA with a monthly savings plan, would achieve better returns than investing it all at the last minute. By splitting your annual ISA allowance into 12 monthly investments your investment would have grown to £296,247 – still £7,496 more than if you had waited until the last minute.
Whether you’re ‘Shirley’ or ‘Lara’ or ‘Monty’ or whoever you are, trust us to help you come up with the most suitable plan for your investments.
Contact us through www.marklandhill.co.uk to book a free initial consultation.
The information in this article should not be regarded as financial advice.