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Life time Isa - is it still worth it?
melj95
Posts: 1 Newbie
Hi there.
i am currently using a lifetime isa to save and won’t access the money till I’m 60 but at the rate of Inflation I was wondering if it is worth it And will the money depreciate whilst it’s sitting there?
Any advice would be appreciated.
i am currently using a lifetime isa to save and won’t access the money till I’m 60 but at the rate of Inflation I was wondering if it is worth it And will the money depreciate whilst it’s sitting there?
Any advice would be appreciated.
0
Comments
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If it is Cash Lisa, then it will lose value with time, as usually inflation is higher than savings interest rates. Plus cash LISA's have relatively poor rates of interest compared to normal savings account.
If it is Stocks and Shares Lisa ( which is normally recommended if using the Lisa for retirement ) then hopefully in the long term it should beat inflation, with some ups and downs along the way )
Plus of course you have gained the 25% bonus.0 -
i am currently using a lifetime isa to save and won’t access the money till I’m 60 but at the rate of Inflation I was wondering if it is worth itOne assumes you are using a stocks & shares LISA for such an objective rather than a cash LISA as that would be daft.
Can you confirm which?
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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