As a contractor, you are presented with the perfect opportunity to invest in to an enjoyable future.
You are probably earning more than you have done in the past, but as you are aware. income and expenditure tend to increase alongside one another. That is why the best approach to investing is to contribute little and often.
There are several saving and investing options to choose from, but we recommend seeking professional advice before because of the risks involved. It is important to remember that the value of units can change over time and you may not get back the amount you put in.
We have partnered with sister company Contractor Wealth.
Contractor Wealth are specialists in their field offering tailored advice for contractors and freelancers. Their extensive knowledge around how contractors and freelancers work will ensure your financial needs and remuneration structure are understood fully.
There are four categories of investment:
Cash – This is the simplest and most common way to invest. It involves paying money in to the bank with the promise of interest being paid on the funds.
Property – Many people choose to invest in to property whether directly, purchasing of property, or indirectly, purchasing property-related shares.
Shares – This involves buying a stock or share in a company. The money is made from both dividends and the capital growth of when you choose to sell the share in the future.
Bonds – This is essentially lending money to an organisation with the promise of the original investment returned in the future, in addition to regular interest.
There are positives and negatives to all of the above so it is advised to research any option with the help of a qualified financial advisor. For more information and to start your investing today, please visit Contractor Wealth.
The value of investments may fall as well as rise and past performance is not a guide to future returns.
Financial advice is given by Contractor Wealth Management Limited which is an appointed representative of Quilter Mortgage Planning Limited and of Quilter Financial Planning Limited who are authorised and regulated by the Financial Conduct Authority. Quilter Financial Planning Limited and Quilter Mortgage Planning Limited are entered on the FCA Register (http://www.fca.org.uk/register) under reference 440703 and 440718.