We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Anyone opening a LISA for their retirement?
RedRuby_2
Posts: 122 Forumite
Is anyone considering opening a LISA for their retirement?
I've already got a HTB ISA, but was wondering if their is any benefit in opening up a LISA for this tax year with the aim of using it for retirement?
How does it work if you've already contributed to a HTB ISA this tax year? Can you just open it and put in £4000 if you haven't reached the overall ISA threshold?
I've already got a HTB ISA, but was wondering if their is any benefit in opening up a LISA for this tax year with the aim of using it for retirement?
How does it work if you've already contributed to a HTB ISA this tax year? Can you just open it and put in £4000 if you haven't reached the overall ISA threshold?
0
Comments
-
Yep you can subscribe to both.
Just be aware you can't take anything out until you are 60, and don't use it as a replacement for pensions etc.0 -
Yes you are fine as they are different types of ISA and they won't collectively breach the £20k per tax year contribution limit.
The overwhelming view is that a S&S LISA would be more appropriate than a Cash ISA to avoid the spending power being erroded by inflation.
Also for higher rate taxpayers and those who could get additional employer matched contributions then a workplace pension is usually better.
Alex0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards