Comments on: How to Invest Tax-free in Peer-to-Peer Lending with IFISAs https://www.poundsandsense.com/how-to-invest-tax-free-in-peer-to-peer-lending-with-ifisas/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-invest-tax-free-in-peer-to-peer-lending-with-ifisas A UK blog covering personal finance and much more from an over-60 perspective Tue, 31 Jul 2018 20:01:52 +0000 hourly 1 https://wordpress.org/?v=6.9.1 By: Nick https://www.poundsandsense.com/how-to-invest-tax-free-in-peer-to-peer-lending-with-ifisas/#comment-391 Tue, 31 Jul 2018 20:01:52 +0000 http://www.poundsandsense.com/?p=1738#comment-391 In reply to tuppennysfireplace.

Thanks for your comment. Yes, absolutely. Don’t be afraid to put some of your savings into P2P/IFISAs, but spread the risk as widely as possible.

]]> By: tuppennysfireplace https://www.poundsandsense.com/how-to-invest-tax-free-in-peer-to-peer-lending-with-ifisas/#comment-390 Tue, 31 Jul 2018 18:46:18 +0000 http://www.poundsandsense.com/?p=1738#comment-390 As you rightly point out cash savings are losing money every day due to low rates and high inflation. Stocks and shares carry risk as well and aren’t covered by the FSCS either nor are the platforms if you have more than £50k/£85k invested with them even if it is spread across different funds.
P2P and IFISAs have a place in our savings. They feel riskier but the returns are much better. Spread your P2P investments across multiple platforms and this reduces the risk somewhat.

]]> By: Nick https://www.poundsandsense.com/how-to-invest-tax-free-in-peer-to-peer-lending-with-ifisas/#comment-386 Tue, 24 Jul 2018 17:14:37 +0000 http://www.poundsandsense.com/?p=1738#comment-386 In reply to Invisibly Me.

Thanks, Caz. Yes, there’s always a trade-off between risk and reward, and it’s important to do your “due diligence” before investing. But equally, with the inflation rate currently around 2.5%, if you stick with bank or building society accounts, you are quite likely to end up losing money overall.

As you say, it’s important to assess any potential IFISA investment carefully to see what the risks and safeguards are, and avoid putting all your savings into just one or two products. Unfortunately my dad (God rest his soul) made that mistake, and it didn’t work out well for him. I vowed at the time never to make that mistake myself!

]]> By: Invisibly Me https://www.poundsandsense.com/how-to-invest-tax-free-in-peer-to-peer-lending-with-ifisas/#comment-385 Tue, 24 Jul 2018 16:54:16 +0000 http://www.poundsandsense.com/?p=1738#comment-385 I had never even heard of IFISAs so this made for interesting reading! I’ll have to investigate this further, but it’s a good point made about how these don’t have backing by the Financial Services Compensation Scheme (FSCS) to guarantee reimbursement up to a large amount, so you need to check what safety measures are in place by the specific provider. Great sponsored post!
Caz

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