Post-COVID investments

With covid-19 restrictions slowly coming to an end and the world tentatively opening back up again, there may well be light at the end of the tunnel for many of you.

During the past year, have you spent more time furloughed from your existing role than not? Perhaps you’ve faced financial hardship as a result – or maybe you’ve been forced to find another role altogether.

With covid-19 restrictions slowly coming to an end and the world tentatively opening back up again, there may well be light at the end of the tunnel for many of you.

‘After the most severe global recession in decades, private and official forecasters are increasingly optimistic that world output will recover strongly this year and thereafter’, says The Guardian. That’s not to say it won’t be an uneven start, though, suggests the piece.

If you’re thinking about putting some extra money aside, though, now could be the perfect time to do it.

Create a financial buffer as soon as possible, says our team here at Unity Mutual. That way, if the worst were to happen again and we end up in another lockdown and unable to work quite as much, you may have a little something to fall back on.

Start by Reassessing Your Investments

Where are you currently investing your money – and does it look set to offer a good return on investment? Now could be the right time to reassess any investments, as well as the state of your personal finances.

There are plenty of products on the market, which offer the peace of mind that comes with knowing exactly what interest you will earn, as well as the knowledge that your investment is protected. Products like our Guaranteed Investment Bond, for one, which is a five-year investment opportunity offering 100% capital protection.

Helping you earn a guaranteed rate of interest when you put away a lump sum for five years, it also offers protection for your money. Our current investment bond (Series 6) pays 1.10% annual interest gross, equating to 5.62% over five years.

Why consider this investment bond?

The interest offered is higher than a typical savings account would pay. The reason for this is due to the fact you need to leave your money in the bond for five years.

It’s ideal for those who want to get ahead in terms of their finances, but if you’re looking to save money in an account that you can easily access later – should covid-19 force us back into a lockdown, for example – you could consider a Stocks and Shares Flexible ISA.

The ISA, which makes investing your money easy over the medium to long-term, is based on the growth potential of the stock market. The aim is to ensure better growth over the long-term, but of course, the stock market can go down as well as up

If you don’t have the confidence to seek out investment opportunities yourself, this account invests in the stock market on your behalf.

You can pay in as much money as you like, whenever you like (providing you stay within the maximum the contribution limit - or 'ISA Allowance' - set by HMRC for that tax year)  – which could suit you if you’re looking for flexibility but want to dip your toe into the water when it comes to investing.

If you are looking to invest money in stocks and shares yourself, The Times offers a handy guide on how to go about it.

Answering the question: ‘Should I buy stocks amid the coronavirus crisis’, the article looks at whether you should invest in shares now, what you need to look out for if you do, and any other details you may need for investing during these uncertain times.

A Beginner’s Guide to Investing

The Times team has also put together a beginner’s guide to investing – and it’s well worth delving into if you want to know how it all works. The guide explains what investing is, as well as the risks involved and how to set up your first portfolio – have a look via the link above.

Want to learn more about post-covid investments? Get in touch with our team here at Unity Mutual, who will be more than happy to answer any of your questions.

The information within this article is a guide. If you’re in any doubt about which products are right for you, it’s a good idea to talk to an Independent Financial Advisor (IFA). You can find a local financial advisor by visiting www.unbiased.co.uk. You may need to pay for a financial advisor’s help, so make sure you ask them about their fees first.

If you need financial advice

If you’re in any doubt about whether this product is right for you, it’s a good idea to talk to an Independent Financial Advisor (IFA). You can find a local financial advisor by visiting  www.unbiased.co.uk. You may need to pay for a financial advisor’s help, so make sure you ask them about their fees first.

Terms and conditions apply to our products. For more information read the product’s Terms & Conditions and the Key Information Documents.