Consider these 3 steps in 2025 to target a winning second income!
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Looking for ways to generate a huge second income over time? Here are three top tips to consider for the New Year.
1. Use an ISA and/or a SIPP
The first thing to think about is opening an Individual Savings Account (ISA). Both the Stocks a Shares ISA and Lifetime ISA allow investors to buy shares, funds, and trusts.
Investors should also think about opening a Self-Invested Personal Pension (SIPP), a product that allows access to these asset classes as well.
These three products have different rules concerning withdrawals and annual allowances. But each is worth serious consideration given that users don’t pay a penny in capital gains tax or dividend tax. Over time, this can add up…
