LISA or buy abroad? Help!

gclamb

I’d really like opinions on my situation.

2 years ago I came to live in NZ. I no longer pay into my LISA as I can’t but I have about £20,000 in there (that’s with the 25% included). The thing is, I’m renting over here and it’s really absorbing a lot of my money (plus the rentals are poor quality). I am not going to be back in the UK for a few years and I’m debating just buying in NZ and forgoing the LISA. That’ll mean I’ve put money in that LISA that hasn’t gained a lot of interest once I remove the 25%. I could use it for a pension pot though.

What do people think?

Retireby40

Where do you plan to live for the next 10-20 years? 

Are you planning or already have kids?

Is you job prospects as good in both countries?

badger09

gclamb said:

I’d really like opinions on my situation.

2 years ago I came to live in NZ. I no longer pay into my LISA as I can’t but I have about £20,000 in there (that’s with the 25% included). The thing is, I’m renting over here and it’s really absorbing a lot of my money (plus the rentals are poor quality). I am not going to be back in the UK for a few years and I’m debating just buying in NZ and forgoing the LISA. That’ll mean I’ve put money in that LISA that hasn’t gained a lot of interest once I remove the 25%. I could use it for a pension pot though.

What do people think?

As I posted on your identical thread on the LISA board:

How have you managed to deposit £16k into your LISA if you've been living in New Zealand for 2 years?

gclamb

Retireby40 said:

Where do you plan to live for the next 10-20 years? 

Are you planning or already have kids?

Is you job prospects as good in both countries?

Thanks for your reply. I don’t really know where I plan to live yet, but I’ll be in NZ for a few years at least. No kids but I plan to in about 5 years. Job prospects are good.

Your post has made me realise it’s probably a case of where I plan to be long-term and that’s something I need to think more about.

gclamb

badger09 said:

gclamb said:

I’d really like opinions on my situation.

2 years ago I came to live in NZ. I no longer pay into my LISA as I can’t but I have about £20,000 in there (that’s with the 25% included). The thing is, I’m renting over here and it’s really absorbing a lot of my money (plus the rentals are poor quality). I am not going to be back in the UK for a few years and I’m debating just buying in NZ and forgoing the LISA. That’ll mean I’ve put money in that LISA that hasn’t gained a lot of interest once I remove the 25%. I could use it for a pension pot though.

What do people think?

As I posted on your identical thread on the LISA board:

How have you managed to deposit £16k into your LISA if you've been living in New Zealand for 2 years?

I wasn’t sure where this question would be best placed. Thanks for your reply. I deposited 16K before I moved to NZ – as I said in my post, I am no longer depositing into it as that’s illegal.