Prepare for life’s most precious moments with an ISA
From having a baby to helping your kids onto the property ladder, a little planning will enable you to be there for them financially.
Important information - The value of investments can go down as well as up, so you may get back less than you invest.
From the joy of finding out you’re having a baby, to hearing their first words and seeing them take their first steps, parenthood is a magical journey. All too soon though - as any parent will tell you - they’ll be off to ‘big school’. And it will probably feel as though no sooner have they brought home their first papier mache ‘work of art’, then they’re off, getting married and starting a family of their own. So enjoying every precious moment is important.
And it’s never too soon to start thinking ahead. Whether you’ve just found out you’re expecting, you’re getting ready to wave Junior off to nursery, or your 18-year-old has just headed off to college or university, after the inevitable tears, tantrums and teen angst, the last thing you want is a meltdown when it comes to your finances. While every parent wants to give their child the best start in life and be there to help them along the path to adulthood and beyond, knowing you can be there to support them financially - as well as emotionally - is the ultimate way to get peace of mind.
Kids cost and, as any parent will tell you, that starts even before they’re born. And as these new costs typically come just as you take time off work to care for your new arrival, having savings to rely on will give you peace of mind at a time when you’ve got better things to worry about than paying unexpected bills and expenses.
It pays to think longer term too. Because if you’re considering private education, then you’ll have to be prepared to dig deep. Not only do you have school fees to consider, you also need to factor in the cost of uniform, music and other extra-curricular lessons, books, trips and other incidentals. All in all, your child’s education is probably going to be the second-largest expense, after your mortgage.
Speaking of which, the Bank of Mum and Dad still plays an important role when it comes to helping first-time buyers get on the property ladder. By regularly saving into an ISA you can plan ahead and know you could be financially able to support your children’s needs. Whatever they may be. And for however long you’re prepared to help them. Whether that is to pay school fees, give them a helping hand with college or uni costs, help them get a foot on the property ladder, contribute to their ‘big day’ or put your grandchildren on the path to financial security, an ISA helps you save and invest in the most tax-efficient way.
Opting to invest a regular monthly sum makes saving achievable for even the most cash-strapped of parents. You can save as little as £50 into a Stocks and Shares ISA and choose where the money is invested, while still being able to add lump sums, where possible, up to a maximum total of £20,000 in the current tax year. With a Junior ISA you can also get your child or grandchild into the investing habit early. And with the current yearly Junior ISA allowance of £4,368, who knows, one day they may even thank you for it.
Investors should note that the views expressed may no longer be current and may have already been acted upon. Tax treatment depends on individual circumstances and all tax rules may change in the future. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser. Withdrawals from a Junior ISA will not be possible until the child reaches age 18.
What you could do next
Start saving in an ISA
Invest in our Stocks and Shares ISA and pay no income or capital gains tax on your returns.
Explore regular savings and get started from £50
Making regular monthly contributions to your investments as part of a savings plan could help them grow into a sizeable sum over the long term.
Get help choosing investments
Whether you need a lot of help or a little we have the right tool to help you find an investment
Double your money with our ISA prize draw
Invest a lump sum in an ISA online by 31 March 2020, and we’ll give you the chance to win back your initial investment - up to £20,000.
Win back the value of your ISA investment in cash- up to £20,000, (the “Prize Draw”).
Terms and Conditions
- The promoter of this offer is Financial Administration Services Limited, 130 Tonbridge Road, Hildenborough, Tonbridge, Kent TN11 9DZ (“Fidelity”).
- To be eligible to enter the prize draw you must be 18 years of age or older and a UK resident. Fidelity employees and its contracted staff are not eligible to enter.
- Entry into the Prize Draw will constitute your acceptance of these terms and conditions. Entry will be automatic when you make a Qualifying Investment (see below).
- If you do not wish to be entered into the prize draw, please call our contact centre on 0333 300 3350 and request to be removed from the draw, after you have made a Qualifying Investment. The contact centre is available between 8am and 6pm, Monday to Friday, and 9am and 2pm on Saturday.
- The prize draw period is from 17 January 2020 to 31 March 2020 (the “Prize Draw Period”). Entries close 31 March at midnight (GMT). The Prize Draw amount will match the lump sum amount invested into a Fidelity 2019/20 ISA during the Prize Draw Period and the prize money will be paid in cash into your bank account.
- Qualifying Investment
* Any lump sum investment made into a 2019/2020 Fidelity ISA during the Prize Draw Period through the Fidelity Personal Investing website: fidelity.co.uk
The following examples, without limitation, will not be Qualifying Investments:
* ISA transfers or re-registrations from other providers
* Investments made through an adviser;
* Investments in the Fidelity Junior ISA;
* Investments via a regular savings plan;
* Investments via Bed and ISA;
* Investments made over the telephone or through a paper application (investments must be made online through the fidelity.co.uk website in order to qualify).
- After the Prize Draw Period, the winners will be selected at random. All winners will be drawn after 1 April 2020 and will be notified via post, secure message via their Fidelity online account, or phone, before 30 April 2020. Payment of the prize money will be made within 90 days of the notification. There will be four winners in total.
- Only one entry per person is available. If multiple ISA investments are made during the Prize Draw Period, the first investment in time will qualify for entry to the Prize Draw, and the amount invested at that point will be the prize amount payable.
- The winner's prize money will be paid by BACS to your bank account. If we do not hold a bank mandate on the account, you will need to provide those details to receive the prize. Cheques will not be sent in place of providing bank details.
- Fidelity reserves the right to cancel or amend the prize draw or the rules without notice during the Prize Draw Period. Any cancellation of or changes to the prize draw will be notified to you on the Fidelity website.
- If you withdraw your qualifying investment from your Fidelity ISA, or add an adviser to your account, within a 12-month period from the date of investment, Fidelity reserves the right to reclaim the prize money awarded.
- Fidelity shall not be liable for any loss or damage suffered from entry into the prize draw, acceptance of the prize, any defects, delays or inadequacies in the prize or the arrangements surrounding the prize, or from any event beyond the reasonable control of Fidelity. Fidelity shall not be liable in contract, tort, negligence or otherwise for any direct or indirect consequential loss suffered by an entrant in relation to participation in the prize draw. Nothing in these terms and conditions shall operate to exclude or restrict liability of Fidelity from time to time for death or personal injury resulting from negligence.
- Where relevant, reference in these terms and conditions to the winner includes any person with whom the winner shares the prize.
- In the event of any dispute regarding the rules, conduct, results and all other matters relating to a prize draw, the decision of Fidelity shall be final and no correspondence or discussion shall be entered into.
Any personal information you submit to Fidelity will be maintained in accordance with the UK Data Protection Act 2018 and used in accordance with the Fidelity Privacy Statement. Your personal information will never be disclosed to a third party without your prior consent, however, should you be a winner, your full name and county can be disclosed to anyone who requests this information, unless you inform us that you would like this information to be withheld. Your contact details will only be used to contact you and notify you if you have won a prize.
Your ISA checklist
Make sure you have the following information with you:
- Your National Insurance number
- Debit card details (for a single payment)
- Bank or building society details (if you’re planning on setting up a regular savings plan)