Investing within tax efficient wrappers such as ISAs and SIPPS is an absolute must for everyone.
But which account you prioritize depends on your savings goals and what level of flexibility you want it terms on accessing funds.
In this video I run through some numbers to see how the current tax rules and account rules effect the size of your pot and how withdrawing from them works.
Further Information:
What is a SIPP : [ Ссылка ]
ISA guide: [ Ссылка ]
An article from the Investors chronicle with similar information in written format: [ Ссылка ]
Information on the rules around recycling your pension lump sum: [ Ссылка ]
ISA statistics:
[ Ссылка ]
💡 I'm Jake a 3rd Year Economics Student and I try to break down some of big financial issues facing us, so we can take this knowledge into positive, actionable change to build better financial habits. So make sure you subscribe so you never miss out on an opportunity to learn something new.
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Timestamps:
Stocks and shares ISA vs SIPP Overview 0:00
How the accounts differ in terms of Taxation 2:23
What this means for your money 4:00
Why the accounts aren't a fair comparison 7:40
Summary 8:56
❌ DISCLAIMER: Just Jake's Money is not a financial/investment advisor. I am solely sharing their personal experience and opinions; therefore, all strategies and suggestions, and recommendations shared are solely for entertainment purposes. There are financial risks associated with investing; therefore, do not act or refrain from acting based on any information conveyed in this video or webpage. For independent financial advice please seek the counsel of a suitable qualified advisor and conduct your own due diligence.
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