Disclaimer: No information on this page can be taken as financial advice. This is what I have done based on personal research. Please undertake your personal research and seek financial advice if required to inform your decisions. All information here is my opinion hence do not expect me to repeat the phrase, ‘opinion and/or personal opinion’ throughout. This blanket statement covers it all. I am not sponsored by any of the investment platforms or products mentioned in my blog post.
This is the first of a 2-part series focused on how I have invested. As usual, it records what I am doing and to teach my future daughter the ways of the UK Personal Finance Scene.
Before I start, I will tell you a little bit of my knowledge of taxes in the UK. I have mentioned taxes because tax efficiency savings are a massive wealth building tool. A few of the ways to build wealth through tax efficient savings are:
- Part 1 – Employer Pensions
- Part 2 – ISA – Individual Savings Allowance
- LISA – Lifetime ISA
- HTB ISA
- Part 3 – SIPPs
- Part 4 – Charitable Giving
- Personal Tax Allowance
A bonus post – ‘How Would I Use a LISA’ can be found here.
My hope is you now have the knowledge you need to make utmost use of the many incentives out there for people keen on maximising their tax efficient savings and reducing taxes.
There are other schemes out there however at this stage of my financial journey, these are the ones I am employing