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New to LISA
Cptralls
Posts: 229 Forumite
Hi All,
I dismissed LISA's in the past as I assumed they were for people buying a house (I have one already). However, just reading that I can save £4k per year and receive 25% on £4k this year each year until I'm 50. Have I understood this correctly? I'm 36 now.
I dismissed LISA's in the past as I assumed they were for people buying a house (I have one already). However, just reading that I can save £4k per year and receive 25% on £4k this year each year until I'm 50. Have I understood this correctly? I'm 36 now.
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Comments
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Yes, but depending on your circumstances, you could get more out of contributing to a pension. See the guide at: https://www.moneysavingexpert.com/savings/lifetime-isas/#pension-2
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Yes it's true. Even if you open one while you're eligible, before aged 40, you have it to invest until you're 50 (and withdraw at 60 at the earliest). You can have both a Cash LISA and Stocks and Shares LISA, but cannot invest in both in the same tax year.My referrals page:
https://sites.google.com/view/donnaonamission/home 0
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