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What is best to start saving for a pension for an 18 year old?
Comments
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The LISA in this case is primarily for saving for a home. 10 years of LISA saving from 18 could provide a £50k deposit with £10k from the tax payer plus whatever growth can be attained.HCIMbtw said:When my pension access is at 55 there is just no way i'm contributing to a LISA that locks up until 60.
I think the rules might have changed on new pension accounts now.. making them 57, but I personally place a lot of value on that earlier access.1 -
Thank you so much everyone for your advices - lots of information to digest. I will pass on your comments and see what he wants to do for now - thank you again0
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The money in a LISA can be taken 100% tax free, unlike a pension for most people.HCIMbtw said:When my pension access is at 55 there is just no way i'm contributing to a LISA that locks up until 60.
I think the rules might have changed on new pension accounts now.. making them 57, but I personally place a lot of value on that earlier access.0
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