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Use your Stocks and Shares ISA today! I’d buy crashing FTSE 100 shares to retire early

The clock is ticking, the deadline to use this year’s Stocks and Shares ISA allowance expires at midnight tonight. This is your last chance. Don’t waste it.

Today’s stock market crash could prove a wonderful opportunity to pick up crashing FTSE 100 shares at reduced prices, allowing you to retire early. You only have a few hours to do it using this year’s £20k ISA allowance, so don’t mess around. If you have cash to spare, and can invest for the long term, today could prove a once-in-a-lifetime opportunity.

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The coronavirus crisis has sent the FTSE 100 and other global indices crashing down. Share prices have crashed by around a quarter.

It’s Stocks and Shares ISA time

If you would like to retire early, this stock market crash could be an opportunity to turbo-charge your plans, by loading up a Stocks and Shares ISA with cut-price stocks.

Some crashing FTSE 100 shares have been hit really hard, notably travel, hotels and energy firms. Others have stayed relatively steady, including supermarkets, pharmaceutical companies, utilities and tobacco giants.

This means investors have a choice. Brave bargain hunters will snap up stocks that have crashed most, but have massive recovery potential. More cautious investors may seek out companies that have held relatively firm in the stock market crash, proving their resilience.

Alternatively, you could play it simple, and buy a low-cost index-tracking fund that follows the fortunes of the entire FTSE 100.

Buy crashing FTSE 100 shares to retire early

Whichever option you prefer, remember this. A stock market crash is scary. You have to be brave to buy shares, when everyone else is fearful. However, history shows that the market has recovered from every single stock market crash. No exceptions.

The Covid-19 crash will be exactly the same. I cannot say when all those crashing FTSE 100 shares will recover, or how rapidly, but they will. They always have before.

If you can buy now with a long-term view, you will benefit when that happens. The shares you pick up at today’s fire-sale prices will recover over time and help you retire early. If you buy them inside a Stocks and Shares ISA, you will benefit from their share price growth when that happens.

Those crashing FTSE 100 shares should also generate some dividend income as well, especially as the crisis eases, as it will.

Don’t waste this stock market crash

Midnight is just hours away. You cannot afford to delay using your Stocks and Shares ISA allowance any longer. You do not have to invest the full £20k, but even a few thousand pounds is well worth the effort. So log onto your investment platform, or set up a new one. You should be able to do it with a debit card and basic details such as your National Insurance number.

Buying crashing FTSE 100 shares may feel scary, but it is also a great chance to build your wealth and retire early.

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Harvey Jones has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.