As of 6 April 2026, UK investors have a fresh chance to supercharge their savings and investments with a new £20,000 Individual Savings Account (ISA) allowance.
To maximize the benefits of the new 2026/27 allowance, there’s a strong case for acting swiftly and using at least part of your £20,000 ISA allowance sooner rather than later. This is due to the power of compounding. By investing early, you give your money more time to grow, benefiting from the potential snowball effect of returns generating further returns. So the sooner you invest that £20,000 (assuming you are fortunate enough to have it) the more opportunity it has to multiply over time.
In addition to the tax-free ISA allowance remaining at a relatively generous £20,000 (for now – see below), the rules surrounding ISAs have undergone a welcome relaxation in recent years. One of the most significant changes is the ability to open more than one ISA of the same type (e.g. a stocks and shares ISA) with different providers in the same tax year. This means investors are no longer limited to a single provider for each type of ISA, giving them greater flexibility and choice in managing their investments.
Previously, investors were restricted to opening one cash ISA, one stocks and shares ISA and one innovative finance ISA (IFISA) per tax year. This restriction could prove frustrating for those seeking to diversify their investments or take advantage of new opportunities as the tax year progressed. Now, with the freedom to open multiple ISAs of the same type, investors can shop around for the best rates, terms and investment options without being limited to a single provider for each ISA type. They can also move some or all of their money from one provider to another without jeopardizing its tax-free status.
It’s important to remember, however, that while the rules have been relaxed, the overall annual ISA allowance remains fixed at £20,000. This means that any contributions made across multiple ISAs of any type will count towards your total allowance for the tax year. You should still therefore take care not to exceed the annual limit, to avoid any potential tax charges.
Note that from April 2027 the Cash ISA allowance has been reduced from £20,000 to £12,000 per year for savers under the age of 65. Until then it remains at £20,000 a year for all savers, though.
Cash ISAs offer a secure and accessible way to save, providing a tax-free environment for your savings with the added benefit of easy access to your funds when needed. Meanwhile, stocks and shares ISAs open the door to potential higher returns by investing in a wide range of assets such as equities, bonds, and funds, albeit with a higher level of risk. With a stocks and shares ISA you will never incur any liability for dividend tax, capital gains tax or income tax, even if your investments perform exceptionally well. Of course, there is no guarantee this will happen, but over a longer period stock market investments have typically outperformed cash savings, often by a substantial margin. IFISAs (e.g. from Housemartin, with whom I invest myself) allow you to invest is property crowdfunding and other forms of peer-to-peer finance. They are more specialized, but may appeal to some investors looking to further diversify their portfolios.
In recent years I have invested much of my own annual ISA allowance in a stocks and shares ISA with JP Morgan Personal Investing (previously Nutmeg), a robo-manager platform that has produced good returns for me. You can read how my Housemartin and JPM investments (and others) are faring in my monthly investment updates such as this one.
Closing Thoughts
The start of a new financial year is a good time for UK investors to review their savings and investment strategies. Whether you’re looking to start a new ISA or maximize your contributions to existing accounts, taking action early can set you on the path to optimizing your returns from this important tax-saving opportunity.
By investing sooner rather than later and taking advantage of the increased flexibility in ISA provider options, savers and investors can make the most of their money while minimizing their tax liabilities. So grasp this opportunity to build your wealth and protect it from the taxman today!
As always, if you have any comments or questions about this post, please do leave them below.
Disclaimer: I am not a qualified financial adviser and nothing in this blog post should be construed as personal financial advice. Everyone should do their own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss.
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I’ll begin as usual with my JP Morgan Personal Investing (previously Nutmeg) Stocks and Shares ISA. This is the largest investment I hold other than my Bestinvest SIPP (personal pension).
As regular readers will know, in June last year I transferred most of the money in my former Nutmeg Fully Managed portfolio (just under £25,000) to a new Nutmeg Income Portfolio. I discussed this in detail in this post, but basically money in this port is invested to generate an income from share dividends and other sources. This is then paid monthly. Capital appreciation is targeted as well, but these portfolios are aimed primarily at older people (and others) who want/need their investment to generate a regular cash income.
In January my JPM Investing income portfolio generated £75.54 of income, which was duly paid in to my bank account on 24 March 2026. That means I have now received tax-free income of £273.68 in 2026 and a total of £745.14 since I opened the account in June last year. That’s about what I would have expected based on JPM’s projected annual return of just under 5% for income ports at my chosen risk level (five).
The less good news is that my income portfolio declined in value in March. It’s now worth £27,320 compared with £28,866 at the start of last month, a fall of £1,546. You don’t need to be an investment expert to know that this is mainly due to events in the Middle East. Nearly all of my share-based investments have been affected by this. Clearly it is disappointing, but as I always say, you do have to expect ups and downs when investing. As the screen capture below shows, my income port is still up by a respectable £1,716.97 (6.71%) after fees since I opened it last June.
I still have a smaller, growth-oriented pot using JPM Investing’s Smart Alpha option. This is now worth £4,606 compared with £4,974 (rounded up) a month ago, a fall of £368. Here is a screen capture showing performance over the last year.
Finally, at the start of December 2023 I invested £500 in one of Nutmeg/JPM’s thematic portfolios (Resource Transformation). In March 2024 I also invested a further £200 from referral bonuses (something I no longer receive). As you can see from the one-year screen capture below, this portfolio is now worth £934 compared with £996 (rounded up) last month, a decrease of £62.
Overall in March the value of my JPM investments fell by £1,976 or 5.55%. Against that I did, of course, receive £75.54 in income from my income portfolio. In total, then, I am £1900.46 down for the month.
On a more positive note, excluding income generated, the overall value of my JPM investments is still up by £3,385 or 11.47% since the start of April 2025. If you add to this figure the £745.14 of income generated by my Income portfolio to date, that gives a total profit for the last 12 months of £4,130.14 – still not a bad return in these uncertain times.
As I said above, some volatility is always to be expected with stock market investments, but in the longer term they tend to even themselves out (and typically outperform bank savings accounts, although that is never guaranteed). In general the worst thing you can do is panic and sell up when downturns occur (as happened last month). You are then crystallizing your losses rather than giving the markets time to recover. This is something I discussed last year in this blog post. Obviously nobody knows what will happen in the Middle East, but hopefully some sort of resolution will occur soon, if only because President Trump desperately needs an exit strategy to pacify his critics back home. Once a bit more stability returns to the region, we will hopefully see world stock markets rise again. Though of course there is no guarantee about this.
You can read my full original Nutmeg/JPM review here. If you are looking for a home for your annual ISA allowance, based on my overall experience over the last nine years, they are certainly worth considering. They offer self-invested personal pensions (SIPPs), Lifetime ISAs and Junior ISAs as well.
Moving on, I also have investments with P2P property investment platform Housemartin. As discussed in this post, the company rebranded last year from Assetz Exchange.
My investments with Housemartin continue to generate steady returns. Housemartin focuses on lower-risk properties (e.g. sheltered housing). I put an initial £100 into this in mid-February 2021 and another £400 in April. In June 2021 I added another £500, bringing my total investment up to £1,000.
Since I opened my account, my HM portfolio has generated a respectable £309.64 in revenue from rental income. I have made a small net loss of £20.25 on property disposals. Capital growth generally has slowed, in line with UK property values generally.
At the time of writing, 17 of ‘my’ properties are showing gains, 3 are breaking even, and the remaining 24 are showing losses. My portfolio of 44 properties is currently showing a net decrease in value of £76.05. That means that overall (rental income minus capital value decrease and loss on disposal) I am up by £213.34. That’s still a respectable return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Housemartin most projects are socially beneficial as well.
A further consideration is that property investments on Housemartin are less likely to be affected by stock market downturns, as happened in March due to the war in the Middle East. This again demonstrates the potential value of such investments for diversifying your portfolio during challenging times.
The net fall in capital value of my Housemartin investments is obviously a little disappointing. But it’s important to remember that until/unless I choose to sell the investments in question, it is largely theoretical, based on the latest price at which shares in the property concerned have changed hands. The rental income, on the other hand, is real money (which in my case I’ve reinvested in other HM projects to further diversify my portfolio).
To control risk with all my property crowdfunding investments nowadays, I invest relatively modest amounts in individual projects. This is a particular attraction of Housemartin as far as i am concerned. You can actually invest from as little as £1 per property if you really want to proceed cautiously.
As I noted in this blog post, Housemartin is particularly good if you want to compound your returns by reinvesting rental income. This effectively boosts the interest rate you are receiving. Personally, once I have accrued a minimum of £10 in rental payments, I usually reinvest this money in either a new HM project or one I have already invested in (thus increasing my holding). Over time, even if I don’t invest any more capital, this will ensure my investment with Housemartin grows at an accelerating rate and becomes more diversified as well.
In 2022 I set up an account with investment and trading platform eToro, using their popular ‘copy trader’ facility. I chose to invest $500 (then about £412) copying an experienced eToro trader called Aukie2008 (real name Mike Moest).
In January 2023 I added to this with another $500 investment in one of their thematic portfolios, Oil Worldwide. I also invested a small amount I had left over in Tesla shares.
In January this year, as Oil Worldwide hadn’t exactly been setting the world alight, I decided to switch my entire investment in this to another smart portfolio, InTheGame. This port, focusing on the computer gaming industry, has been the top performer for some time in my eToro virtual portfolio.
Unfortunately just as I switched away from Oil Worldwide, President Trump decided to invade Venezuela. This gave the oil industry a significant boost, which I would otherwise have benefited from. Meanwhile InTheGame has gone south, partly due to the recent fall in AI stocks along with the war in the Middle East. At the time of writing the value of my investment in this has fallen by nearly 17%. Hey ho! This does of course demonstrate that there are never any guarantees when investing and unexpected events can thwart the best-laid plans…
As you can see from the screen captures below, my original eToro investment (total value £888.36 in pounds sterling) is today worth £1,070.78, an overall increase of £182.42 or 20.53%.
Note: eToro now displays the value of investments in your native currency, although you can change this if you wish.
As mentioned above, my new investment in InTheGame is currently down by nearly 17%. My copy trading investment with Aukie2008 also fell in value in March, but it’s still showing an impressive overall profit of 56.36%. Of course, I have held this investment for quite a bit longer.
My Tesla shares, which I purchased as an afterthought with some spare cash I had in my account, are also down this month, but still showing an overall profit of over 234% since I bought them. If only I had put a bit more money into this!
You might also notice that I have small holdings in Prosus NV, a Dutch internet group, and South Bow, a Canadian energy infrastructure company. To be honest I don’t understand how I acquired these, but I assume they are some sort of bonus I was awarded. In any event, I am happy to have them in my portfolio.
If you would like more information about setting up an eToro account, please click on this no-obligation website link [affiliate]. Don’t forget that you also get a free $100,000 virtual portfolio, which you can use to experiment with trading and investing strategies. I have certainly earned a lot from mine.
As an experiment, at the start of April last year I put £50 into an investment ISA with Trading 212. As mentioned in my blog post about dividend investing, I put it into the (Almost) Daily Dividends Portfolio, a ready-made portfolio or ‘pie’ on Trading 212. As you can see from the screen capture below, my portfolio is now worth £59.87. That’s a decrease of £1.97 since last month but an increase of £9.87 or 19.7% over the eleven-month period since I opened it. It has even accrued a grand total of £1.08 in dividends, most of which has now been (automatically) reinvested.
I am quite impressed with how this investment has been faring, despite the small amount I put in (which means I may be missing out on some smaller dividends). If I increased my investment I would almost certainly become eligible for more dividends, and even more the longer I remain invested. If I had any spare money at the moment, I would consider doing this. Of course, I do now have an income-focused portfolio with JPM Investing as well (see above).
Moving on, I published various posts on Pounds and Sense in March. I have listed below those that are still relevant.
In Beat the Postage Stamp Price Rise, I pointed out that the cost of stamps is rising (again) on Tuesday 7 April 2026. That will be the SEVENTH rise in the price of first class stamps in just four years! Standard and large-letter stamps don’t have values printed on them and will still be valid after the April price rise comes in, so my top tip is to stock up now while stamps are still at the old price.
I also posted an updated version of Get a Free Share Worth up to £100 with Trading 212. Anyone who hasn’t done this before can get a free share worth up to £100 just by signing up for a new Trading 212 investment account via my link. The current offer closes on Tuesday 28th April 2026.
Also in March I published Are River Cruises Suitable for Solo Travellers. This was a follow-up to my earlier posts about how to save money on cruise holidays and the pros and cons of river cruises (for older travellers in particular). In this post I addressed a question asked by several readers as to whether river cruises are a good choice for solo travellers. The article sets out the pros and cons as I see them. My view, as expressed in the article, is that they can be, but it does depend on your travel style and budget.
What Is An Annuity – And Who Should Consider Buying One? discusses a subject that confuses many people. In simple terms, an annuity is a financial product that converts a lump sum of money – typically from your pension pot – into a guaranteed regular income for life (or for a fixed period). You buy an annuity from an insurance company. In return for handing over some or all of your pension savings, they promise to pay you a regular income, usually monthly, for the rest of your life. In the article I look at the pros and cons of annuities, and whom they are (and aren’t) likely to be suitable for.
How to Save Money on Travel Insurance covers a subject on many people’s minds at this time of year. Travel insurance is one of those expenses that can feel like a grudge purchase – until you need it. For UK travellers, especially older holidaymakers, having adequate cover is essential. In this article I set out some ways you may be able to save on travel insurance without compromising your safety or security. I also discuss saving money on travel insurance as an older person, and the issues that can be caused by war and civil unrest (especially relevant for destinations in or near the Middle East at the moment).
Finally, in March I published Don’t Miss Out – Use Your £20,000 ISA Allowance Before It’s Too Late! As I say in the article, the end of the tax year on 5 April 2026 is fast approaching and so is the deadline to utilize the annual tax-free Individual Savings Account (ISA) allowance. Unless you take action in the next few days, this opportunity to maximize your tax-free savings for the 2025/26 financial year will be gone for ever.
And speaking of deadlines, time is also running out to take advantage of EDF Energy‘s enhanced switching offer. Until 6 April 2026 you can get a FREE £75 (increased from £50) credited to your energy account when you switch to EDF via my link at https://edfenergy.com/quote/refer-a-friend/sunny-koala-9462. Terms and conditions apply.
I’ll close with my customary reminder that you can also follow Pounds and Sense on Facebook or Twitter (or X as it is now). Twitter/X is my number one social media platform and I post regularly there. I share the latest news and information on financial matters, and other things that interest, amuse or concern me. So if you aren’t following my PAS account on Twitter/X, you are definitely missing out!
I am also on the BlueSky social media network under the username poundsandsense.bsky.social. Twitter/X remains my primary social media platform, but I also post details of my latest blog posts, third-party articles and other financial news and resources on BlueSky for those who prefer to follow me there.
As always, if you have any comments or questions, feel free to leave them below. I am always delighted to hear from PAS readers
Disclaimer: I am not a qualified financial adviser and nothing in this blog post should be construed as personal financial advice. Everyone should do their own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss.
Note also that posts on PAS may include affiliate links. If you click through and perform a qualifying transaction, I may receive a commission for introducing you. This will not affect the product or service you receive or the terms you are offered, but it does help support me in publishing PAS and paying my bills. Thank you!
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Today I’m featuring a way you can get a free fractional share worth up to £100 by signing up (for the first time) with an online share trading platform called Trading 212.
Trading 212 is unusual in that it offers commission-free and fee-free share trading. As a special offer, until Tuesday 28th April 2026 they are offering people new to the platform a free fractional share just for signing up via a referral link (such as the links in this post). The share you will get is chosen at random, but could be worth up to £100. You can either keep this share or sell it.
How to Sign Up
Signing up with Trading 212 is pretty straightforward. Just visit the Trading 212 website via any of the (referral) links in this post and follow the on-screen instructions to register. Note that you will be required to provide various items of information, including your date of birth, National Insurance number, annual income, employment status, and contact details. I understand that this is to meet their legal ‘Know Your Customer’ duty.
You will also need to indicate the type of account you want from the options available (see screen capture below).
As you will see, the four account types on Trading 212 are Invest, CFD, Stocks ISA and Cash ISA. You can apply for any or all of these if you like.
CFD stands for Contract for Difference. CFDs are quite complex financial instruments and unless you know what you’re doing I recommend giving them a miss.
If you just want the free share my suggestion would be to tick the Stocks ISA box. An ISA is, of course, a tax-exempt Individual Savings Account. As from April 2024 you can open any number of ISA accounts in a year as long as you don’t exceed your annual £20,000 allowance.
If you have already used up your entire £20,000 this year, you should choose Invest instead to open a general investment account without any tax benefits. Obviously if you don’t want a Stocks ISA with Trading 212 for any reason, you can choose this option as well.
For more information about the Trading 212 Cash ISA, see my review here. Be aware that you must open either an Invest account or a Stocks ISA account to qualify for a free share. Of course, there is nothing to stop you opening a Cash ISA account as well, but my recommendation would be to open an Invest or Stocks ISA account first.
Getting Your Free Share
There is one more step you will need to take in order to get your free share. You will need to deposit a minimum of £1 into your account. There are various ways you can do this, but i just used my debit card. There is no obligation to invest the £1 (or whatever you choose to deposit) and if you wish you can withdraw it once your free share has been credited.
The next business day you should receive an email confirming that a free fractional share has been added to your account. As mentioned above, this is allotted at random. If you’re lucky you might get one worth up to £100. Even if you get a less valuable one, though, it’s still a share for free. If you choose to keep it, it may rise in value. There may also be dividends payable in future (and credited to your account).
Selling Your Share
You can’t sell your share immediately. You have to wait three business days before doing so, but it is then just a matter of clicking the Sell button on your member’s dashboard.
The money will be credited to your Trading 212 account but you will have to wait 30 days before withdrawing it. So there may be a case for waiting to see if your share’s value goes up in that time. Of course, it could also go down!
In my case, I received a free share in the Ford Motor Company worth just under £8 at the time. Obviously this wasn’t as exciting as I might have hoped, but it was still – in effect – free money for almost no time or effort 😀
How Safe Is Trading 212?
Trading 212 is registered in England and Wales and authorized and regulated by the Financial Conduct Authority. In addition, all clients’ funds are kept separately in segregated bank accounts which are covered by the Financial Services Compensation Scheme. So even if the company itself were to go broke, any cash in your account would be protected up to a value of £120,000.
Of course, the FSCS guarantee doesn’t apply to the value of your stocks and shares, which can go down as well as up. All investments carry a risk of loss, although in the case of your free share you can never lose any more than the original cost, which was of course zero!
Referral Scheme
Any Trading 212 member can also refer new members while this offer is on. In that case, both you and the person concerned will receive one free fractional share worth up to £100. Obviously, the links in this blog post include my referral code – so if you register and get a free share, I will receive one also. Under the terms of the current offer you can get up to five free shares in this way. Five is the limit per person. Although you can still refer new members who will get a free share after this, as a referrer you won’t receive one as well. If and when the offer reopens in future, you will be able to refer more new members and get free shares again.
Final Thoughts
I first heard about Trading 212 a while ago, but wasn’t initially sure whether it was legit and here for the long term. And I thought the free share offer was, frankly, too good to be true. However, my own experiences have been entirely positive. My original free share in the Ford Motor Company was credited the next business day as promised and I received an email notifying me about it.
I can log in to my Trading 212 account any time to see how my Ford share is doing. I have also collected a few other shares from referrals. These include a share in AMD (the semiconductor company), which is currently worth an impressive £152.69, and one in Nike, which is worth £72.48. I still have my original Ford Motor Company share and it has risen in value to £8.75. I have also received several dividend payments from them. I haven’t sold any of my free shares yet but could of course do so any time I choose. I am not in any rush, as Trading 212 do not impose any platform or inactivity fees.
Although in this post I have focused on the free share offer, Trading 212 is worth considering as a share-dealing platform too. In particular, the fact that it’s fee-free and commission-free means it is well suited for people who are dipping a toe in stocks and shares investment for the first time. By contrast, the dealing fees and commissions charged by some other share-trading platforms can make small share purchases prohibitively expensive. This review by Money Savvy Daddy looks at the pros and cons of Trading 212 as a share-dealing platform in a bit more detail.
It’s also worth bearing in mind that Trading 212 pays interest on any uninvested funds in your ISA or Invest account, currently at a rate of 3.80% AER. You can also make money allowing your shares to be lent out. Rates on offer for this vary according to investor demand, with the process handled automatically by Trading 212 once authorized. You can read more about share lending on Trading 212, including the risks and safeguards provided, here.
In conclusion, I hope this post has inspired you to consider registering with Trading 212 to claim your free share. If you do, I hope you get a valuable one! Please let me know what share you receive in a comment below. And, as always, any other comments or questions are very welcome too.
Don’t forget, the current free share offer ends on Tuesday 28th April 2026.
Disclosure: The links in this post include my referral code. If you click through and register as described above, I will receive a free share (as will you). Please note also that I am not a qualified financial adviser and nothing in this post should be construed as individual financial advice. Everyone should do their own ‘due diligence’ before investing and seek advice from a qualified financial adviser if in any doubt how best to proceed. All investment carries a risk of loss (although not in the case of free shares, obviously).
This is an update of my original post about this special offer.
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As the end of the tax year on 5 April 2026 approaches, so too does the deadline to utilize the annual tax-free Individual Savings Account (ISA) allowance.
The clock is ticking, and unless you take action in the next few weeks, this opportunity to maximize your tax-free savings for the 2025/26 financial year will be gone.
ISAs are a popular choice for savers and investors alike, offering a tax-efficient way to grow your wealth. With a diverse range of options available, from cash ISAs to stocks and shares ISAs and innovative finance ISAs, individuals have the flexibility to tailor their savings strategy to suit their financial goals and risk appetite.
The current ISA allowance stands at £20,000, providing a significant opportunity to shield your savings and investments from tax. This allowance represents a generous sum that, if left unused, cannot be carried forward to future years. In essence, any portion of the £20,000 allowance that remains untapped by the upcoming deadline will be lost, representing a missed opportunity for tax-free growth.
For those who have yet to fully utilize their annual ISA allowance, now is the time to take action. Whether you’re looking to bolster your rainy-day fund with a cash ISA, seeking to invest in the stock market through a stocks and shares ISA, or diversify your investment portfolio with an IFISA, there’s no shortage of options available.
Cash ISAs offer a secure and accessible way to save, providing a tax-free environment for your savings with the added benefit of easy access to your funds when needed. Meanwhile, stocks and shares ISAs open the door to potentially higher returns by investing in a wide range of assets such as equities, bonds and funds, albeit with a higher level of risk. And an Innovative Finance ISA, or IFISA for short, allows you to invest via P2P/crowdfunding platforms, further diversifying your portfolio (though again with a higher level of risk).
With an ISA you will never incur any liability for dividend tax, capital gains tax or income tax, even if your investments perform exceptionally well. Of course, there is no guarantee this will happen, but over a longer period stock market investments have typically outperformed cash savings, often by a substantial margin.
In recent years I have invested much of my own annual ISA allowance in a stocks and shares ISA with JP Morgan Personal Investing (formerly Nutmeg). I have also invested some money in a property IFISA from Housemartin (previously Assetz Exchange). Check out the Housemartin website here [affiliate link].
Finally, for shorter-term savings, I am using the Trading 212 Cash ISA. This currently pays me an interest rate of 3.60% AER. Higher rates are typically on offer to new Trading 212 clients for their first 12 months.
Note that from April 2027 the Cash ISA allowance has been reduced from £20,000 to £12,000 per year for savers under the age of 65. Until then it remains at £20,000 a year for all savers, though.
With just a few weeks left to take advantage of this valuable tax benefit, delaying now could prove costly. By acting swiftly you can ensure that your savings and investments are positioned to grow tax-free, setting yourself up for a better financial future.
In summary, the £20,000 annual ISA allowance for the 2025/26 tax year presents a golden opportunity to maximize your tax-free savings and investments. Time is of the essence, though. Unless you act before the looming deadline of 5th April 2026, this valuable allowance will be lost forever. If you have the money available, therefore, seize the opportunity now to help secure your financial future.
As always, if you have any comments or questions about this article, please feel free to leave them below.
Disclaimer: I am not a qualified financial adviser and nothing in this blog post should be construed as personal financial advice. Everyone should do their own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss.
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If you’re approaching retirement (or have retired already), you’ve probably come across the term annuity. For some people it represents security and peace of mind. For others it feels restrictive and poor value.
So what exactly is an annuity – and who should consider buying one?
Let’s take a closer look.
What Is an Annuity?
In simple terms, an annuity is a financial product that converts a lump sum of money – typically from your pension pot – into a guaranteed regular income for life or for a fixed period.
You buy an annuity from an insurance company. In return for handing over some or all of your pension savings, they promise to pay you a regular income, usually monthly, for the rest of your life.
This is most commonly done using funds built up in a defined contribution pension such as a personal pension or SIPP.
In the UK, buying an annuity used to be the default retirement option before the pension freedoms introduced by the Pension Schemes Act 2015. Today, it’s just one option among several.
How Does an Annuity Work?
Here’s a simple example:
You retire at 67.
You have £100,000 in your pension.
You use that £100,000 to buy an annuity.
The insurance company pays you, say, £6,000 a year for life.
The exact amount you receive depends on:
Your age
Your health
Current interest rates
Whether the income rises with inflation
Whether it continues to a spouse after your death
Once purchased, most annuities cannot be changed or cancelled. That’s a crucial point. You’re effectively swapping flexibility for certainty.
Different Types of Annuity
There isn’t just one type. The main options include:
1. Lifetime Annuity
Pays you a guaranteed income for the rest of your life, no matter how long you live.
2. Fixed-Term Annuity
Pays income for a set number of years (e.g. 5 or 10).
3. Level Annuity
Pays the same income every year. Starts higher, but inflation erodes its value over time.
4. Inflation-Linked Annuity
Income rises each year, often in line with inflation. Starts lower but protects purchasing power.
5. Joint-Life Annuity
Continues paying income to a spouse or partner after your death.
6. Enhanced Annuity
If you have certain medical conditions or lifestyle factors (e.g. smoking), insurers may offer a higher income because of reduced life expectancy.
The Advantages of Buying an Annuity
1. Guaranteed Income for Life
You cannot outlive your money. This removes longevity risk entirely.
2. Simplicity
Once set up, there’s nothing to manage. No investment decisions. No worrying about stock market falls.
3. Peace of Mind
For many retirees, knowing the bills are covered every month is invaluable.
The Disadvantages
1. Irreversible Decision
Once you buy most annuities, you can’t change your mind.
2. Inflation Risk
A level annuity can lose real value over time.
3. Potentially Poor Value If You Die Early
If you die shortly after purchase (and haven’t chosen guarantees or joint-life options), the insurer keeps the remaining capital.
4. Less Flexibility
You lose access to your capital.
How Do Annuities Compare With Drawdown?
Since pension freedoms were introduced, many retirees instead choose flexible-access drawdown, keeping their money invested and withdrawing income as needed.
Drawdown offers:
Flexibility
Potential for investment growth
Ability to pass on unused funds
But it also carries:
Investment risk
The possibility of running out of money
Ongoing management and decision-making
An annuity, by contrast, provides certainty but little flexibility. Of course, there is nothing to stop you dividing your pension pot between both. You can also start off using drawdown and switch some or all of your pot to an annuity later, e.g once you reach your mid-70s.
Who Should Consider Buying an Annuity?
An annuity isn’t right for everyone. But it may be suitable if:
You Want Certainty
If you value guaranteed income over flexibility, an annuity may suit you.
You Don’t Want Investment Risk
If market ups and downs worry you, locking in income could help you sleep better at night.
You Have No Other Guaranteed Income
If you don’t have a defined benefit (final salary) pension, an annuity can provide similar security.
You’re in Poor Health
An enhanced annuity may offer an attractive income rate.
You Want to Cover Essential Expenses
Some retirees use part of their pension to buy an annuity that covers core bills, leaving the rest invested for flexibility.
Who Might Not Benefit?
You may want to think carefully if:
You have a strong desire to leave a financial legacy
You are comfortable managing investments
You have significant other guaranteed income already
You are relatively young and rates are less attractive
One Important Tip: Shop Around
You are not obliged to buy an annuity from your existing pension provider.
Using the “open market option” can significantly increase your income. Different insurers offer different rates, and enhanced terms are not always automatically applied.
This is one area where independent financial advice can genuinely add value.
How Much Income Could a £100,000 Annuity Buy You?
Example: 70-Year-Old Single Man (Standard Lifetime Annuity)
Annuity Type (Single Life)
Estimated Annual Income from £100,000
Level (fixed each year)
~£8,400 per year (≈ £700/month)
Level (best-buys from comparison sites)
~£8,000–£8,500+ per year
Escalating (income grows ~3% annually)
~£6,400 in first year
Inflation-linked (RPI)
~£6,200 in first year
These are rough current illustrations – if you lock in a level annuity at age 70 with £100,000, you might expect around £8,000–£8,500 a year before tax as a starting point.
How Income Varies with Age
Age has a big impact because providers expect to pay income for fewer years the older you are:
Age When Purchased
Typical Annual Income (£100,000)
60 years
~£6,500–£7,000
65 years
~£7,300–£7,600
70 years
~£8,000–£8,400
75 years
~£9,000+
What This Means in Practice
Let’s put those figures into context:
If a 70-year-old buys a level lifetime annuity with £100,000, a payout of around £8,000 annually equates to about £667 per month before tax.
Choosing escalation or inflation protection reduces the initial income but helps protect your spending power over time. For example, a rising income might start at ~£6,400 (with 3% annual increases).
These examples are illustrative only – actual quotes vary by provider, postcode, health and product features. For a more precise quote, try an online calculator such as this independent one on the MoneyHelper website.
💡 Tip: Enhanced annuity rates may be higher if you have certain health conditions or lifestyle factors – always compare quotes across the market rather than accepting the first offer.
Quick Takeaways
Older age = higher annuity income for the same pension pot.
If you have health issues and/or an “unhealthy” lifestyle, you may get a better rate.
Level income gives the highest starting payout but won’t keep pace with inflation.
Inflation-linked or escalating options reduce initial income in exchange for rising payments.
Shopping around is crucial – you don’t have to buy from your existing pension provider.
Final Thoughts
Annuities fell out of favour after pension freedoms were introduced, but rising interest rates in recent years have made them more competitive again.
They aren’t exciting. They aren’t flexible. But for the right person, at the right time in their life, they can provide something that’s hard to put a price on: certainty.
As always with retirement planning, the best solution may not be either/or. A blended approach – part annuity, part drawdown – can often provide the best of both worlds.
If you’re approaching retirement (or there already), it’s well worth understanding how annuities work before ruling them out entirely.
As always, if you have any comments or questions about this article, please do post them below. But note that I am not a qualified financial adviser and cannot give personalized advice. You should always do your own “due diligence” before making investment decisions and seek professional advice if in any doubt how best to proceed. Personally I strongly recommend getting independent professional advice and assistance before purchasing an annuity.
If you enjoyed this post, please link to it on your own blog or social media:
I’ll begin as usual with my JP Morgan Personal Investing (previously Nutmeg) Stocks and Shares ISA. This is the largest investment I hold other than my Bestinvest SIPP (personal pension).
As regular readers will know, in June last year I transferred most of the money in my former Nutmeg Fully Managed portfolio (just under £25,000) to a new Nutmeg Income Portfolio. I discussed this in detail in this post, but basically money in this port is invested to generate an income from share dividends and other sources. This is then paid monthly. Capital appreciation is targeted as well, but these portfolios are aimed primarily at older people (and others) who want/need their investment to generate a regular cash income.
In January my JPM Investing income portfolio generated £124.25 of income, which was duly paid in to my bank account on 24 February 2026. That means I have now received a total (tax-free) income of £198.14 in 2026 and £669.60 since I opened the account in June last year. That’s about what I would have expected based on JPM’s projected annual return of just under 5% for income ports at my chosen risk level (five).
My income portfolio grew in value in February. It’s now worth £28,866 compared with £27,687 at the start of last month, a quite impressive rise of £1,179.
As the year-to-date screen capture below shows, this port has increased by £3,268 (12.74%) after fees since I opened it last June. That’s clearly good going, though I don’t suppose it will carry on like this indefinitely. Performance may have been helped a bit by the no-fees introductory offer on Nutmeg/JPM income portfolios until the end of 2025. That has of course ended now.
I still have a smaller, growth-oriented pot using JPM Investing’s Smart Alpha option. This is now worth £4,974 (rounded up) compared with £4,790 a month ago, an increase of £184. Here is a screen capture showing performance in the year to date.
Finally, at the start of December 2023 I invested £500 in one of Nutmeg/JPM’s thematic portfolios (Resource Transformation). In March 2024 I also invested a further £200 from referral bonuses (something I no longer receive). As you can see from the YTD screen capture below, this portfolio is now worth £996 (rounded up) compared with £956 last month, an increase of £40.
Overall in February I was up by £1,403 or 4.20%. In addition I did, of course, receive £124.25 in income from my income portfolio. In total, then, I am in profit for the month by £1,527.25.
Excluding income generated, the overall value of my JPM investments is up by £4,029 or 13.08% since the start of March 2025. If you add to this figure the £669.60 of income generated by my Income portfolio so far, that gives a total profit for the last 12 months of £4,698.60 – not a bad return in these uncertain times.
As I always have to say, some volatility is to be expected with stock market investments, but over the longer term they tend to even themselves out (and typically outperform bank savings accounts, although that is never guaranteed). In general the worst thing you can do is panic and sell up when downturns occur. You are then crystallizing your losses rather than giving the markets time to recover. This is something I had cause to discuss in this blog post.
You can read my full original Nutmeg/JPM review here. If you are looking for a home for your annual ISA allowance, based on my overall experience over the last nine years, they are certainly worth considering. They offer self-invested personal pensions (SIPPs), Lifetime ISAs and Junior ISAs as well.
Moving on, I also have investments with P2P property investment platform Housemartin. As discussed in this post, the company rebranded last year from Assetz Exchange.
My investments with Housemartin continue to generate steady returns. Housemartin focuses on lower-risk properties (e.g. sheltered housing). I put an initial £100 into this in mid-February 2021 and another £400 in April. In June 2021 I added another £500, bringing my total investment up to £1,000.
Since I opened my account, my HM portfolio has generated a respectable £302.22 in revenue from rental income. I have made a small net loss of £20.25 on property disposals. Capital growth generally has slowed, in line with UK property values generally.
At the time of writing, 19 of ‘my’ properties are showing gains, 4 are breaking even, and the remaining 21 are showing losses. My portfolio of 44 properties is currently showing a net decrease in value of £69.21. That means that overall (rental income minus capital value decrease and loss on disposal) I am up by £212.76. That’s still a respectable return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Housemartin most projects are socially beneficial as well.
The net fall in capital value of my Housemartin investments is obviously a little disappointing. But it’s important to remember that until/unless I choose to sell the investments in question, it is largely theoretical, based on the latest price at which shares in the property concerned have changed hands. The rental income, on the other hand, is real money (which in my case I’ve reinvested in other HM projects to further diversify my portfolio).
To control risk with all my property crowdfunding investments nowadays, I invest relatively modest amounts in individual projects. This is a particular attraction of Housemartin as far as i am concerned. You can actually invest from as little as £1 per property if you really want to proceed cautiously.
As I noted in this blog post, Housemartin is particularly good if you want to compound your returns by reinvesting rental income. This effectively boosts the interest rate you are receiving. Personally, once I have accrued a minimum of £10 in rental payments, I usually reinvest this money in either a new HM project or one I have already invested in (thus increasing my holding). Over time, even if I don’t invest any more capital, this will ensure my investment with Housemartin grows at an accelerating rate and becomes more diversified as well.
In 2022 I set up an account with investment and trading platform eToro, using their popular ‘copy trader’ facility. I chose to invest $500 (then about £412) copying an experienced eToro trader called Aukie2008 (real name Mike Moest).
In January 2023 I added to this with another $500 investment in one of their thematic portfolios, Oil Worldwide. I also invested a small amount I had left over in Tesla shares.
In January this year, as Oil Worldwide hadn’t exactly been setting the world alight, I decided to switch my entire investment in this to another smart portfolio, InTheGame. This port, focusing on the computer gaming industry, has been the top performer for some time in my eToro virtual portfolio.
Unfortunately just as I switched away from Oil Worldwide, US President Trump decided to invade Venezuela. This gave the oil industry a significant boost, which I would otherwise have benefited from. Meanwhile InTheGame hasn’t been doing particularly well, partly due to the recent downturn in AI stocks. At the time of writing the value of my investment in this has fallen by nearly 14%. Hey ho! This does of course demonstrate that there are never any guarantees when investing and unexpected events can thwart the best-laid plans…
As you can see from the screen captures below, my original eToro investment (total value £888.36 in pounds sterling) is today worth £1,091.94, an overall increase of £203.58 or 22.92%.
Note: eToro now displays the value of investments in your native currency, although you can change this if you wish.
As mentioned above, my new investment in InTheGame is currently down by nearly 14%. My copy trading investment with Aukie2008 continues to do well, however, with an impressive overall profit of 62.08%. Of course, I have held this investment for quite a bit longer.
My Tesla shares, which I purchased as an afterthought with some spare cash I had in my account, are down again this month but still showing an overall profit of over 252% since I bought them. If only I had put a bit more money into this!
You might also notice that I have small holdings in Prosus NV, a Dutch internet group, and South Bow, a Canadian energy infrastructure company. To be honest I don’t understand how I acquired these, but I assume they are some sort of bonus I was awarded. In any event, I am happy to have them in my portfolio.
If you would like more information about setting up an eToro account, please click on this no-obligation website link [affiliate]. Don’t forget that you also get a free $100,000 virtual portfolio, which you can use to experiment with trading and investing strategies. I have certainly earned a lot from mine.
As an experiment, at the start of April last year I put £50 into an investment ISA with Trading 212. As mentioned in my blog post about dividend investing, I put it into the (Almost) Daily Dividends Portfolio, a ready-made portfolio or ‘pie’ on Trading 212. As you can see from the screen capture below, my portfolio is now worth £61.84, an increase of £11.84 or 23.60% over the ten-month period. It has even accrued a grand total of 97p in dividends, most of which has now been (automatically) reinvested.
I am quite impressed with how this investment has been faring, despite the small amount I put in (which means I may be missing out on some smaller dividends). If I increased my investment I would almost certainly become eligible for more dividends, and even more the longer I remain invested. If I had any spare money at the moment, I would consider doing this. Of course, I do now have an income-focused portfolio with JPM Investing as well (see above).
Moving on, I published various posts on Pounds and Sense in February. I have listed below those that are still relevant.
In How to Save Money on Cruise Holidays I looked at a type of holiday that has become increasingly popular with older adults. They offer a relaxed way to travel, with accommodation, meals, entertainment and transport between destinations all included in one package. Cruise prices can vary significantly, however, and it’s not always obvious where good value ends and unnecessary expense begins. So in this post I set out some ways to keep cruise costs under control, while still getting the most from your time away.
I also posted an updated version of Get a Free Share Worth up to £100 with Trading 212. Anyone who hasn’t done this before can get a free share worth up to £100 just by signing up for a new Trading 212 investment account via my link. The current offer closes on Wednesday 4th March so you will need to move quickly on this now!
Also in February I published a guest post on the subject Why a Post-Nuptial Agreement Could be a Wise Financial Decision. This concerns a subject that – while it might seem unromantic – could be crucial to ensuring your financial security in later life. This article is by Richard Scott, a partner in the family team at HCR Law. In it he explains the benefit of having a post-nuptial agreement in place if, sadly, your marriage (or civil partnership) should come to an end.
I also published another guest post, on the subject of How Your Morning Coffee Might Protect Your Brain as You Age. This concerns a subject close to many people’s hearts (including mine!) – what are the benefits (and risks) of coffee drinking and how much a day is best? It may be of particular interest to older people, as the latest research indicates that the caffeine in coffee (and tea) may offer some protection from dementia. The article is by Eef Hogervorst, Professor of Biological Psychology at Loughborough University. It was originally published in The Conversation.
Is a River Cruise Right for You? was a follow-up to my earlier article about how to save money on cruise holidays. In this article I focused on river cruises, which have become a very popular option among older travellers. I explored the pros and cons of river cruising – particularly for older people – and shared some tips to help you get the best value for money on your river cruise holiday.
Finally, in Get Your Will Written Free of Charge in March, I explained how – if you and/or your partner are over 55 – you may be able to get your will written for free by taking advantage of Free Wills Month. Appointments are limited and on a first come, first served basis, so it’s important to take action on this as soon as possible. Once all available appointments are taken, the campaign will close. This may happen before the end of March.
I’ll close with a reminder that you can also follow Pounds and Sense on Facebook or Twitter (or X as it is called now). Twitter/X is my number one social media platform and I post regularly there. I share the latest news and information on financial matters, and other things that interest, amuse or concern me. So if you aren’t following my PAS account on Twitter/X, you are definitely missing out!
I am also on the BlueSky social media network under the username poundsandsense.bsky.social. Twitter/X remains my primary social media platform, but I also post details of my latest blog posts, third-party articles and other financial news and resources on BlueSky for those who prefer to follow me there.
As always, if you have any comments or questions, feel free to leave them below. I am always delighted to hear from PAS readers
Disclaimer: I am not a qualified financial adviser and nothing in this blog post should be construed as personal financial advice. Everyone should do their own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss.
Note also that posts on PAS may include affiliate links. If you click through and perform a qualifying transaction, I may receive a commission for introducing you. This will not affect the product or service you receive or the terms you are offered, but it does help support me in publishing PAS and paying my bills. Thank you!
If you enjoyed this post, please link to it on your own blog or social media:
I’ll begin as usual with my JP Morgan Personal Investing (previously Nutmeg) Stocks and Shares ISA. This is the largest investment I hold other than my Bestinvest SIPP (personal pension).
As regular readers will know, in June last year I transferred most of the money in my former Nutmeg Fully Managed portfolio (just under £25,000) to a new Nutmeg Income Portfolio. I discussed this in detail in this post, but basically money in this port is invested to generate an income from share dividends and other sources. This is then paid monthly. Capital appreciation is targeted as well, but these portfolios are aimed primarily at older people (and others) who want/need their investment to generate a regular cash income.
In January my JPM Investing income portfolio generated £72.70 of income, which was duly paid in to my bank account on 24 January 2026. That means I have now received a total (tax-free) income of £544.16 to date. That’s about what I would have expected based on JPM’s projected annual return of just under 5% for income ports at my chosen risk level (five).
My income portfolio grew in value again in January. It’s now worth £27,687 compared with £27,052 at the start of last month, a rise of £635. That, does, however, include £651 transferred from what remained in my Fully Managed account (mentioned above), which I have now closed. I had kept a small amount in this for comparison purposes. But as my new Income Portfolio appeared to be generating better returns overall, I couldn’t see much point keeping it. If you subtract this, the Income Portfolio actually fell slightly in value last month by £16.
As the screen capture below shows, this port has increased by £2,083.66 (8.14%) since I opened it in June last year. That’s clearly good going, though I don’t suppose it will carry on like this indefinitely. I should maybe also mention that performance may have been helped a bit by the no-fees introductory offer on Nutmeg/JPM income portfolios until the end of 2025 (which has of course ended now).
I still have a smaller, growth-oriented pot using JPM Investing’s Smart Alpha option. This is now worth £4,790 (rounded up) compared with £4,714 a month ago, an increase of £76. Here is a screen capture showing performance over the last year.
Finally, at the start of December 2023 I invested £500 in one of Nutmeg/JPM’s thematic portfolios (Resource Transformation). In March 2024 I also invested a further £200 from referral bonuses (something I no longer receive). As you can see from the screen capture below, this portfolio is now worth £956 (rounded up) compared with £934 last month, an increase of £22.
Overall in January I was up by £82 or 0.33%. In addition I did, of course, receive £72.70 in income from my income portfolio. Overall, then, I am in profit for the month by £154.70.
Excluding income generated, the overall value of my JPM investments is up by £1,805 or 5.71% since the start of February 2025, so the April 2025 fall (caused largely by Trump’s tariffs) has now fully reversed. If you add to this figure the £544.16 of income generated so far, that gives a total profit for the last 12 months of £2,349.16 – not a bad return in these uncertain times.
As I always have to say, some volatility is to be expected with stock market investments, but over the longer term they tend to even themselves out (and generally perform better than bank savings accounts, although that is never guaranteed). In general the worst thing you can do is panic and sell up when downturns occur (as happened in April last year). You are then crystallizing your losses rather than giving the markets time to recover. This is something I had cause to discuss in this blog post.
You can read my full original Nutmeg/JPM review here. If you are looking for a home for your annual ISA allowance, based on my overall experience over the last nine years, they are certainly worth considering. They offer self-invested personal pensions (SIPPs), Lifetime ISAs and Junior ISAs as well.
Moving on, I also have investments with P2P property investment platform Housemartin. As discussed in this post, the company rebranded last year from Assetz Exchange.
My investments with Housemartin continue to generate steady returns. Housemartin focuses on lower-risk properties (e.g. sheltered housing). I put an initial £100 into this in mid-February 2021 and another £400 in April. In June 2021 I added another £500, bringing my total investment up to £1,000.
Since I opened my account, my HM portfolio has generated a respectable £297.72 in revenue from rental income. I have made a small net loss of £20.25 on property disposals. Capital growth generally has slowed, in line with UK property values generally.
At the time of writing, 14 of ‘my’ properties are showing gains, 7 are breaking even, and the remaining 23 are showing losses. My portfolio of 44 properties is currently showing a net decrease in value of £79.97. That means that overall (rental income minus capital value decrease and loss on disposal) I am up by £197.50. That’s still a respectable return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Housemartin most projects are socially beneficial as well.
The net fall in capital value of my Housemartin investments is obviously a little disappointing. But it’s important to remember that until/unless I choose to sell the investments in question, it is largely theoretical, based on the latest price at which shares in the property concerned have changed hands. The rental income, on the other hand, is real money (which in my case I’ve reinvested in other HM projects to further diversify my portfolio).
To control risk with all my property crowdfunding investments nowadays, I invest relatively modest amounts in individual projects. This is a particular attraction of Housemartin as far as i am concerned. You can actually invest from as little as £1 per property if you really want to proceed cautiously.
As I noted in this blog post, Housemartin is particularly good if you want to compound your returns by reinvesting rental income. This effectively boosts the interest rate you are receiving. Personally, once I have accrued a minimum of £10 in rental payments, I usually reinvest this money in either a new HM project or one I have already invested in (thus increasing my holding). Over time, even if I don’t invest any more capital, this will ensure my investment with Housemartin grows at an accelerating rate and becomes more diversified as well.
In 2022 I set up an account with investment and trading platform eToro, using their popular ‘copy trader’ facility. I chose to invest $500 (then about £412) copying an experienced eToro trader called Aukie2008 (real name Mike Moest).
In January 2023 I added to this with another $500 investment in one of their thematic portfolios, Oil Worldwide. I also invested a small amount I had left over in Tesla shares.
Last month, as Oil Worldwide hadn’t exactly been setting the world alight, I decided to switch my entire investment in this to another smart portfolio, InTheGame. This port, focusing on the computer gaming industry, has been the top performer for some time in my eToro virtual portfolio.
Unfortunately just as I switched away from Oil Worldwide, US President Trump decided to invade Venezuela. This gave the oil industry a significant boost, which I would otherwise have benefited from. Meanwhile InTheGame hasn’t been doing particularly well. At the time of writing the value of my investment in this has fallen by over 6%. Hey ho! This does of course demonstrate that there are never any guarantees when investing and unexpected events can thwart the best-laid plans. Hopefully in the coming months things will improve again!
As you can see from the screen captures below, my original eToro investment (total value £888.36 in pounds sterling) is today worth £1,119.21, an overall increase of £230.85 or 25.99%.
Note: eToro now displays the value of investments in your native currency, although you can change this if you wish.
You can read my full review of eToro here. You may also like to check out my more in-depth look at eToro copy trading. I also discussed thematic investing with eToro using Smart Portfolios in this post. The latter also reveals why I took the somewhat contrarian step of choosing the oil industry for my first thematic investment with them.
As mentioned above, my new investment in InTheGame is currently down by over 6%. My copy trading investment with Aukie2008 continues to do well, however, with an impressive overall profit of 65.20%. Of course, I have held this investment for quite a bit longer.
My Tesla shares, which I purchased as an afterthought with some spare cash I had in my account, are down this month but still showing an overall profit of over 280% since I bought them. If only I had put a bit more money into this!
You might also notice that I have small holdings in Prosus NV, a Dutch internet group, and South Bow, a Canadian energy infrastructure company. To be honest I don’t understand how I acquired these, but I assume they are some sort of bonus I was awarded. In any event, I am happy to have them in my portfolio.
If you would like more information about setting up an eToro account, please click on this no-obligation website link [affiliate]. Don’t forget that you also get a free $100,000 virtual portfolio, which you can use to experiment with trading and investing strategies. I have certainly earned a lot from mine.
As an experiment, at the start of April last year I put £50 into an investment ISA with Trading 212. As mentioned in my blog post about dividend investing, I put it into the (Almost) Daily Dividends Portfolio, a ready-made portfolio or ‘pie’ on Trading 212. As you can see from the screen capture below, my portfolio is now worth £58.80, an increase of £8.80 or 17.60% over the ten-month period. It has even accrued a grand total of 87p in dividends!
I am quite impressed with how this investment has been faring, despite the small amount I put in (which means I may be missing out on some smaller dividends). If I increased my investment I would almost certainly become eligible for more dividends, and even more the longer I remain invested. If I had any spare money at the moment, I would consider doing this. Of course, I do now have an income-focused portfolio with JPM Investing as well (see above).
Moving on, I published various posts on Pounds and Sense in January. I have listed below those that are still relevant.
In What Are Index Funds and How Can You Invest in Them? I looked at one of the most straightforward and cost-effective ways to invest in the stock market, especially for long-term savers and beginners. Index funds track a market index such as the FTSE 100, giving you broad exposure to many companies at once. This helps spread risk and keeps costs low.
I also posted What Are Investment Trusts and How Can You Invest in Them? Investment trusts are a distinctive type of investment company with some unique features; and for the right investor, they can offer real advantages. In this article, I explained what investment trusts are, how they work, and their pros and cons compared with alternatives such as ETFs and open-ended funds.
Also in January I published Planning a UK Holiday This Year? Here Are Some Ideas for you! In this article – an update of an annual post – I shared links to my blog posts about a variety of UK holiday destinations I’ve visited in the last few years, in case you might wish to consider them for short (or longer) breaks in the year ahead.
Finally, I published Make the Government Pay! How to Use Gift Aid to Redirect Your Tax Money. In this article I discussed a perfectly legal way to ensure that at least some of your tax money goes to causes you genuinely support than simply vanishing into the government’s coffers. Gift Aid is a scheme that allows charities to reclaim tax on donations made by UK taxpayers. You can of course use it to boost the value of your donations to the organizations in question – but, as my post reveals, you can even use it to reallocate some of your tax money without spending any money directly.
I’ll close with a reminder that you can also follow Pounds and Sense on Facebook or Twitter (or X as it is called now). Twitter/X is my number one social media platform and I post regularly there. I share the latest news and information on financial matters, and other things that interest, amuse or concern me. So if you aren’t following my PAS account on Twitter/X, you are definitely missing out!
I am also on the BlueSky social media network under the username poundsandsense.bsky.social. Twitter/X remains my primary social media platform, but I also post details of my latest blog posts, third-party articles and other financial news and resources on BlueSky for those who prefer to follow me there.
As always, if you have any comments or questions, feel free to leave them below. I am always delighted to hear from PAS readers
Disclaimer: I am not a qualified financial adviser and nothing in this blog post should be construed as personal financial advice. Everyone should do their own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss.
Note also that posts on PAS may include affiliate links. If you click through and perform a qualifying transaction, I may receive a commission for introducing you. This will not affect the product or service you receive or the terms you are offered, but it does help support me in publishing PAS and paying my bills. Thank you!
If you enjoyed this post, please link to it on your own blog or social media:
When most people think about investing, they picture stocks and shares, funds, ISAs and perhaps ETFs. But there’s another long-established option that often flies under the radar: Investment Trusts.
Despite the name, investment trusts aren’t trusts in the everyday sense. They are a distinctive type of investment company with some unique features – and for the right investor, they can offer real advantages.
In this article, I’ll explain what investment trusts are, how they work, and their pros and cons compared with alternatives such as ETFs and open-ended funds.
What Is an Investment Trust?
An investment trust is a publicly listed company whose business is investing in other assets. These might include:
specialist assets such as private equity or renewable energy
When you invest in an investment trust, you’re buying shares in the company, not units in a fund. Investment trusts are listed on the London Stock Exchange, and their shares are bought and sold in the same way as any other quoted company.
Importantly, most investment trusts are actively managed, with a professional fund manager making decisions about what to buy and sell.
How Investment Trusts Differ from Funds and ETFs
The key difference lies in structure.
Closed-Ended Structure
Investment trusts have a fixed number of shares in issue. This means:
The manager does not need to sell assets to meet investor withdrawals.
The trust can take a long-term view and invest in less liquid assets.
By contrast, open-ended funds and ETFs create or cancel units as investors buy and sell.
Share Price vs Net Asset Value (NAV)
Because investment trusts trade on the stock market, their share price is driven by supply and demand. This means shares can trade:
At a discount to the value of the underlying assets (NAV)
At a premium to NAV
This feature can create opportunities – but also risks – for investors.
The Advantages of Investment Trusts
Potential to Buy Assets at a Discount
One of the biggest attractions is the ability to buy shares below NAV. In simple terms, you may be able to buy £1 of assets for 90p (or less).
Discounts can widen in difficult markets, potentially offering long-term investors attractive entry points.
Gearing (Borrowing to Invest)
Investment trusts are allowed to borrow money to invest, known as gearing.
Used well, gearing can enhance long-term returns
Used poorly, it can magnify losses
This makes investment trusts potentially more volatile than ETFs or open-ended funds.
Strong Income Records
Many UK investment trusts aim to provide a reliable and growing income.
Crucially, they can retain income in good years and use reserves to maintain or increase dividends in tougher times – something open-ended funds are not permitted to do.
Some UK equity income investment trusts have raised their dividends for decades.
Access to Specialist Assets
Because managers don’t have to meet daily redemptions, investment trusts can invest in:
infrastructure and renewable energy
private equity
property and specialist debt
These areas are often harder to access via ETFs.
Can Be Held in Tax-Free Wrappers
Most investment trusts can be held within tax-free SIPPs and stocks and shares ISAs. That means no tax is payable on income generated or capital growth.
The Disadvantages of Investment Trusts
Discounts Can Persist
While buying at a discount sounds attractive, there’s no guarantee it will narrow. Some trusts trade at persistent discounts for years.
Higher Volatility
The combination of share price movements, discounts and gearing can make investment trusts more volatile than ETFs tracking an index.
Active Management Risk
Most investment trusts rely on the skill of a fund manager. If the manager under-performs, returns may lag cheaper passive options.
Complexity
Compared with a simple FTSE 100 ETF, investment trusts require more understanding – particularly around discounts, premiums and gearing.
Investment Trusts vs ETFs: A Quick Comparison
Feature
Investment Trusts
ETFs
Structure
Closed-ended company
Open-ended fund
Management
Usually active
Usually passive
Can use gearing
Yes
Rarely
Price vs NAV
Can trade at discount/premium
Very close to NAV
Income smoothing
Yes
No
Costs
Often higher
Usually low
How Can You Invest in Investment Trusts?
You can buy investment trusts through most UK investment platforms, including:
Stocks and Shares ISAs
SIPPs (Self-Invested Personal Pensions)
dealing accounts
They trade just like shares, so you’ll usually pay a dealing fee when buying or selling.
Before investing, it’s wise to check:
the trust’s long-term performance
ongoing charges
gearing policy
dividend history
whether shares trade at a discount or premium
Are Investment Trusts Right for You?
Investment trusts aren’t for everyone. If you prefer:
However, for investors willing to do a bit more research, investment trusts can offer:
attractive income
exposure to specialist assets
the chance to buy quality investments at a discount
As always, diversification matters – and investment trusts are best viewed as part of a broader, well-balanced portfolio.
UK Investment Trust Examples
Investment trusts cover a wide range of strategies and sectors, from global growth to income to specialist themes like biotech or renewable energy. Here are some well-known UK trusts across different categories to help bring the concept to life.
📊 Global Growth & Broad Equity
Scottish Mortgage Investment Trust (LSE: SMT) – One of the largest and most popular UK investment trusts. It invests globally with a growth-oriented portfolio that includes technology and disruptive companies. It frequently tops the most-bought lists among UK investors.
Alliance Witan – A large diversified global trust formed from the merger of Alliance Trust and Witan, offering broad exposure across markets.
Baillie Gifford US Growth Trust – Focuses on growing companies based in the United States, blending listed and (up to a limit of) unlisted holdings.
💰 Income-Focused Trusts
City of London Investment Trust (LSE: CTY) – A classic UK equity income trust with a long record of increasing dividends year-on-year.
JPMorgan Global Growth & Income – Offers a diversified global equity income strategy that regularly features among popular income trusts.
Murray International Trust – Another long-running global equity income trust often favoured for income within ISAs.
🌍 Regional & Sector-Specific Trusts
Schroder AsiaPacific Fund – Provides exposure to companies across Asia and Asia-Pacific regions (excluding Japan and Australasia).
BlackRock Smaller Companies Trust – Focuses on smaller company equities, often with a value or growth tilt.
RTW Biotech Opportunities – A sector-specific trust investing in biotechnology companies at various stages of development.
🔋 Other Interesting Themes
Greencoat UK Wind (LSE: UKW) – A renewable energy trust investing in UK wind assets. It’s popular among investors seeking income from alternative infrastructure, though returns can be more cyclical.
3i Group – A private equity–focused investment trust with a long track record and often high longer-term returns, though returns may be more volatile.
These examples are not recommendations – just familiar names that illustrate how diverse the investment trust world can be, from broad global strategies to niche sectors like biotech or renewables. Always do your own research (including yield, fees, discount/premium and underlying strategy) before investing.
My Own Trust Investments
Finally, I thought it might be of interest to mention the trusts I invest in myself. Again, I must emphasize that this in no way intended as a recommendation; it is for information purposes only.
I don’t have a lot of money in investment trusts these days, as they are a bit too volatile for my current circumstances and overall investing strategy. But in my Bestinvest SIPP (personal pension) I do hold the following…
As you can see, I have shares in Fidelity Asian Values and Worldwide Healthcare Trust.
Both these trusts have done well for me, the latter in particular. I chose WHT because I wanted to put some of my pension money into the health sector. That is partly because I expect this sector to perform well as populations – in advanced industrial nations anyway – grow older. But it’s also because I like to think that some of my money may actually help drive advances in medicine/healthcare generally.
I invested in Fidelity Asian Values as my overall portfolio was a bit light on stocks from that region (and also, if I’m honest, because I saw this trust recommended on one of the investment news websites I follow!).
As always, if you have any comments or questions about this article, please do post them below. But bear in mind that I am not a qualified financial adviser and cannot give personal financial advice. All investment carries a risk of loss and past performance is no guarantee of future profits. You should always do your own “due diligence” before investing, and seek advice from a professional financial adviser/planner if in any doubt how best to proceed.
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Today I thought I would take a closer look at Index Funds. These are among the most straightforward and cost-effective ways to invest in the stock market – especially for long-term savers and beginners.
Instead of trying to pick individual shares, index funds track a market index such as the FTSE 100, giving you broad exposure to many companies at once. This helps spread risk and keeps costs low.
In this article, I’ll explain what index funds are, which market indices they track (with a focus on popular UK and global examples), the pros and cons of index investing, and how you can invest in these funds from the UK.
What Is an Index Fund?
An index fund is a type of pooled investment that aims to mirror the performance of a specific stock market index such as the FTSE 100 or the S&P 500, rather than trying to beat it via active stock picking.
Because these funds simply follow a set rule (i.e. “invest in all the companies in this index”), they tend to have much lower fees than actively managed funds.
Common Market Indices Tracked by Index Funds
UK Market Indices
FTSE 100 – Tracks the 100 largest companies on the London Stock Exchange, such as Shell and HSBC.
FTSE 250 – Covers mid-sized UK companies (not including those in the FTSE100), giving broader UK-specific economic exposure.
FTSE All-Share – Includes hundreds of UK companies across large, mid and small caps.
International Indices
S&P 500 (USA) – 500 of the largest US companies by market value.
FTSE All-World – Broad global coverage of thousands of companies across developed and emerging markets.
MSCI World – Tracks large and mid-cap companies in developed economies.
Popular UK Index Funds You Can Invest In
Here are some specific examples of index funds and ETFs available to UK investors:
UK-Focused Trackers
iShares Core FTSE 100 UCITS ETF (LSE: ISF) – Tracks the FTSE 100 index with a low ongoing charge (~0.07%).
Vanguard FTSE 100 UCITS ETF (VUKE) – Another FTSE 100 tracker, from Vanguard.
Vanguard FTSE 250 UCITS ETF – Provides exposure to mid-sized UK companies via the FTSE 250 index.
HSBC FTSE 250 Index Tracker – A low-cost option that tracks the FTSE 250.
Vanguard FTSE UK All-Share Index Fund – A broader UK fund tracking a wide range of UK shares.
Global and International Trackers
SPDR S&P 500 UCITS ETF – Tracks the S&P 500 for US market exposure.
FTSE All-World ETFs / Funds – Provide broad world-wide market exposure including developed and some emerging markets (often available via major brokers under names like FTSE All-World).
iShares MSCI World ETFs – Track global developed markets outside the UK.
💡 Most of these are available as ETFs you can buy and sell on the London Stock Exchange, and many can be held inside tax-efficient accounts like ISAs and SIPPs.
Pros of Investing in Index Funds
✅ Low Costs
Index funds usually have much lower fees than actively managed funds because there’s no expensive stock-picking involved.
✅ Diversification
A single index fund can give you exposure to hundreds or thousands of companies, spreading risk across many businesses.
✅ Simple and Transparent
The strategy and holdings are easy to understand – you know exactly which index you’re following.
✅ Competitive Long-Term Returns
Over long periods, passive index funds have often matched or beaten actively managed funds, especially after fees.
Cons of Investing in Index Funds
⚠️ You Can’t Beat the Market
Index funds aim to match the performance of their benchmark, not outperform it.
⚠️ No Protection in Downturns
When the market falls, your fund generally will too – there’s no active manager moving your investment into “safer” assets.
⚠️ Concentration Risk
Some indices (e.g. the S&P 500) are heavily weighted toward certain sectors (like tech), so your exposure might be concentrated.
Ways to Invest in Index Funds in the UK
🪙 Through a Stocks & Shares ISA
This is one of the most tax-efficient ways to hold index funds: you won’t pay UK taxes on gains or dividends each year.
🧓 Via a SIPP
Index funds can form the core of a low-cost SIPP (Self Invested Personal Pension) portfolio. Contributions may also receive tax relief.
📈 Through Investment Platforms
Platforms like Hargreaves Lansdown, AJ Bell, Interactive Investor and Trading 212 let you buy and manage index funds directly.
🤖 Robo-Advisers
Services like Nutmeg (recently renamed JP Morgan Personal Investing) or Moneybox automatically build diversified portfolios using index funds based on your risk profile.
Final Thoughts
Index funds are an excellent foundation for long-term investing – especially if you want a low-cost, diversified, hands-off approach. With options covering UK, US and global markets, you can build a portfolio that matches your goals and risk tolerance.
Disclaimer: I am not a qualified financial adviser and nothing in this article should be construed as personal financial advice. It’s important to do your own ‘due diligence’ before investing and speak to a professional financial adviser/planner if in any doubt how best to proceed. All investments carry a risk of loss.
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I’ll begin as usual with my JP Morgan Personal Investing (previously Nutmeg) Stocks and Shares ISA. This is the largest investment I hold other than my Bestinvest SIPP (personal pension).
As regular readers will know, in June this year I transferred most of the money in my former Nutmeg Fully Managed portfolio (just under £25,000) to a new Nutmeg Income Portfolio. I discussed this in detail in this post, but basically money in this port is invested to generate an income from share dividends and other sources. This is then paid monthly. Capital appreciation is targeted as well, but these portfolios are aimed primarily at older people (and others) who want/need their investment to generate a regular cash income.
In December my JPM Investing income portfolio generated £75.04 of income, which was duly paid in to my bank account on 24 December 2025. That means I have now received a total (tax-free) income of £471.46 to date. That’s about what I would have hoped for based on JPM’s projected annual return of just under 5% for income ports at my chosen risk level (five).
My income portfolio grew in value again in December. It’s now worth £27,052 compared with £27,015 at the start of last month, a rise of £37. As the screen capture shows, the port has actually increased by £2,099.98 (8.42%) since I opened it in June this year. That’s clearly good going, though I don’t suppose it will carry on like this indefinitely. I should maybe also mention that performance may have been helped a bit by the no-fees introductory offer on Nutmeg/JPM income portfolios until the end of 2025. That has ended now, of course.
I still have a smaller, growth-oriented pot using JPM Investing’s Smart Alpha option. This is now worth £4,714 compared with £4,685 a month ago, an increase of £29. Here is a screen capture showing performance over the last year.
And at the start of December 2023 I invested £500 in one of Nutmeg/JPM’s thematic portfolios (Resource Transformation). In March 2024 I also invested a further £200 from referral bonuses (something I no longer receive for reasons I won’t bore you with). As you can see from the screen capture below, this portfolio is now worth £934 (rounded up) compared with £931 last month, a small increase of £3.
Finally, I still have a small amount left in my original Nutmeg/JPM Fully Managed portfolio. I have kept this largely for comparison purposes. This has also increased slightly in value from £637 at the start of December to £642 (rounded up) now, a rise of £5.
Overall in December I was up by £74 or 0.31%. In addition I did, of course, receive £75.04 in income from my income portfolio. Overall, then, I am in profit for the month by £149.04.
Excluding income generated, the overall value of my JPM investments is up by £2,914 or 9.58% since the start of 2025, so the April 2025 fall (caused largely by Trump’s tariffs) has now fully reversed. If you add to this figure the £471.46 of income generated so far, that gives a total profit for the last 12 months of £3,385.46 – not a bad return in these uncertain times.
As I always have to say, some volatility is to be expected with stock market investments, but over the longer term they tend to even themselves out (and generally perform better than bank savings accounts, although that is never guaranteed). In general the worst thing you can do is panic and sell up when downturns occur (as happened in April last year). You are then crystallizing your losses rather than giving the markets time to recover. This is something I had cause to discuss in this blog post.
You can read my full original Nutmeg/JPM review here. If you are looking for a home for your annual ISA allowance, based on my overall experience over the last nine years, they are certainly worth considering. They offer self-invested personal pensions (SIPPs), Lifetime ISAs and Junior ISAs as well.
As mentioned above, Nutmeg have rebranded as J.P. Morgan Personal Investing and their website is now at www.personalinvesting.jpmorgan.com.
Moving on, I also have investments with P2P property investment platform Assetz Exchange. As discussed in this post, the company has rebranded as Housemartin.
My investments with Housemartin continue to generate steady returns. Housemartin focuses on lower-risk properties (e.g. sheltered housing). I put an initial £100 into this in mid-February 2021 and another £400 in April. In June 2021 I added another £500, bringing my total investment up to £1,000.
Since I opened my account, my HM portfolio has generated a respectable £291.50 in revenue from rental income. I have made a small net loss of £21.68 on property disposals. Capital growth generally has slowed, in line with UK property values generally.
At the time of writing, 13 of ‘my’ properties are showing gains, 5 are breaking even, and the remaining 24 are showing losses. My portfolio of 42 properties is currently showing a net decrease in value of £72.54. That means that overall (rental income minus capital value decrease and loss on disposal) I am up by £197.28. That’s still a respectable return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Housemartin most projects are socially beneficial as well.
The net fall in capital value of my Housemartin investments is obviously a little disappointing. But it’s important to remember that until/unless I choose to sell the investments in question, it is largely theoretical, based on the latest price at which shares in the property concerned have changed hands. The rental income, on the other hand, is real money (which in my case I’ve reinvested in other HM projects to further diversify my portfolio).
To control risk with all my property crowdfunding investments nowadays, I invest relatively modest amounts in individual projects. This is a particular attraction of Housemartin as far as i am concerned. You can actually invest from as little as £1 per property if you really want to proceed cautiously.
As I noted in this blog post, Housemartin is particularly good if you want to compound your returns by reinvesting rental income. This effectively boosts the interest rate you are receiving. Personally, once I have accrued a minimum of £10 in rental payments, I usually reinvest this money in either a new HM project or one I have already invested in (thus increasing my holding). Over time, even if I don’t invest any more capital, this will ensure my investment with Housemartin grows at an accelerating rate and becomes more diversified as well.
In 2022 I set up an account with investment and trading platform eToro, using their popular ‘copy trader’ facility. I chose to invest $500 (then about £412) copying an experienced eToro trader called Aukie2008 (real name Mike Moest).
In January 2023 I added to this with another $500 investment in one of their thematic portfolios, Oil Worldwide. I also invested a small amount I had left over in Tesla shares.
As you can see from the screen captures below, my original investment (total value £888.36 in pounds sterling) is today worth £1,152.75 an overall increase of £264.39 or 29.76%.
Note: eToro now displays the value of investments in your native currency, although you can change this if you wish.
As you can see, my Oil WorldWide investment is in profit, though at 10.37% it is nothing to get excited about. My copy trading investment with Aukie2008 has been doing better, with an impressive overall profit of 63.35%. To be fair, I have held this investment a bit longer.
My Tesla shares, which I bought as an afterthought with some spare cash I had in my account, are up again this month. They are showing an overall profit of 304.65% since I bought them. If only I had put a bit more money into this!
You might also notice that I have small holdings in Prosus NV, a Dutch internet group, and South Bow, a Canadian energy infrastructure company. To be honest I don’t understand how I acquired these, but I assume they are some sort of bonus I was awarded. In any event, I am happy to have them in my portfolio.
If you would like more information about setting up an eToro account, please click on this no-obligation website link [affiliate]. Don’t forget that you also get a free $100,000 virtual portfolio, which you can use to experiment with trading and investing strategies. I have certainly earned a lot from mine.
As an experiment, at the start of April this year I put £50 into an investment ISA with Trading 212. As mentioned in my recent blog post about dividend investing, I put it into the (Almost) Daily Dividends Portfolio, a ready-made portfolio or ‘pie’ on Trading 212. As you can see from the screen capture below, my portfolio is now worth £57.34, an increase of £7.34 or 14.60% over the nine-month period. It has even accrued a grand total of 77p in dividends!
I am quite impressed with how this investment has been faring, despite the small amount I put in (which means I may be missing out on some smaller dividends). If I increased my investment I would almost certainly become eligible for more dividends, and even more the longer I remain invested. If I had any spare money at the moment, I would consider doing this. Of course, I do now have an income-focused portfolio with JPM Investing as well (see above).
Moving on, I published various posts on Pounds and Sense in December. I have listed below those that are still relevant.
My Top 20 Posts of 2025 is pretty self-explanatory. In this post I listed the top twenty posts on Pounds and Sense in 2025, based on comments, page-views and social media shares, excluding any that were no longer relevant. I hope you might enjoy revisiting these posts, or seeing them for the first time if you are new to PAS.
In Why You Should Beware of Going ‘All-In’ on Electricity I focused on a topic that has become of increasing concern to me in recent months. Over the past decade, UK households have been encouraged to electrify almost everything. Cars are going electric. Gas boilers are being phased out in favour of electric heat pumps. Even cooking is increasingly moving from gas to electricity. Of course, on paper this all fits with the Government’s drive towards Net Zero. But in this post I addressed a growing issue that doesn’t get discussed nearly enough: What happens if the electricity supply isn’t always there when you need it?
Also in December I published New Trading 212 Offer – Get a Guaranteed £25 Cash. This is a rare opportunity to get a guaranteed £25 cash by opening a new Trading 212 Invest account (it’s different from their usual free share promotion, which is currently closed). My post explains what you have to do to claim this money. The offer ends on 20 January 2026.
I also published another syndicated guest post by Primrose Freestone, Senior Lecturer in Clinical Microbiology at Leicester University. This one is on the subject Can You Wear the Same Socks More Than Once? I published another article by Dr Freestone recently on how often you should wash your bedding, which generated a lot of interest. If you enjoyed that article, hopefully you will like this one as well. Again it contains a lot of eye-opening information, including some tips on when and how you should launder socks.
Finally, in What Are the Best Video Calling Tools for Older People? I discussed the benefits for older folk of using video-calling tools and apps to keep in touch with friends and family. I described a range of options, explaining how they work and whom they might be most suitable for. This article was published with Christmas in mind, but obviously it is relevant at other times of the year as well.
I’ll close with a reminder that you can also follow Pounds and Sense on Facebook or Twitter (or X as we have to call it now). Twitter/X is my number one social media platform and I post regularly there. I share the latest news and information on financial matters, and other things that interest, amuse or concern me. So if you aren’t following my PAS account on Twitter/X, you are definitely missing out!
I am also on the BlueSky social media network under the username poundsandsense.bsky.social. Twitter/X remains my primary social media platform, but I also post details of my latest blog posts, third-party articles and other financial news and resources on BlueSky for those who prefer to follow me there.
As always, if you have any comments or questions, feel free to leave them below. I am always delighted to hear from PAS readers
Disclaimer: I am not a qualified financial adviser and nothing in this blog post should be construed as personal financial advice. Everyone should do their own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss.
Note also that posts on PAS may include affiliate links. If you click through and perform a qualifying transaction, I may receive a commission for introducing you. This will not affect the product or service you receive or the terms you are offered, but it does help support me in publishing PAS and paying my bills. Thank you!
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I published various posts on 
The Advantages of Buying an Annuity
The Disadvantages
