Moving abroad (currently using AJBell)

MoneySavingHope

The cap is just for the Shares, not for the Funds, and I have around 60% of my investment in funds, the rest in shares. So I run the numbers, and over a 20 years time (when I'll be 60) dodl is supposed to be cheaper.

Anyway yes, I think so too, my dividends SHOULD be enough

masonic

MoneySavingHope said:

The cap is just for the Shares, not for the Funds, and I have around 60% of my investment in funds, the rest in shares. So I run the numbers, and over a 20 years time (when I'll be 60) dodl is supposed to be cheaper.

Anyway yes, I think so too, my dividends SHOULD be enough

That's a common misconception. The cap applies to all exchange traded securities. For example, my capped LISA just contains the iShares Core S&P 500 ETF and emerging markets ETF. Both funds and exchange traded. Investment Trusts (another type of fund) also qualify for the cap. OEICs and Unit Trusts do not.

MoneySavingHope

I also see your point about not being able to do anything in case a company having to sell shares... I'll have to figure out whether is worth for me paying more (and how much) in the long run just to be 100% sure

Bostonerimus1

The first question to answer is whether the LISA wrapper is even recognized by where you are moving to and how the funds inside it will be treated.

MoneySavingHope

I'm moving to Italy, so it should be fine.

Bostonerimus1

MoneySavingHope said:

I'm moving to Italy, so it should be fine.

What makes you say that?

MoneySavingHope

@Bostonerimus1 not sure what you mean? I will either keep my funds in AJBell or move them to another UK based platform that supports LISA and will allow me to add money to the wallet, to be sure I'll be able to pay the maintenance fee. It doesn't need to be "recognised" by the country I'm moving in. I'll just leave my money there.

MoneySavingHope

@masonic but then why does it say this in their website?

Lifetime ISA charges | AJ Bell

MoneySavingHope

Anyway I actually had a look at the last times I got charged the maintenance fee and that actually never went beyond £3.50 for each investment I'm holding... so what they say in their website is not accurate

masonic

MoneySavingHope said:

@masonic but then why does it say this in their website?

Lifetime ISA charges | AJ Bell

It says "Shares – includes ETFs, investment trusts, gilts and bonds"

So that's shares, some types of fund, and bonds.