We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Lump sun in Lifetime Stock & Shares ISA now or not?
Isibarum
Posts: 1 Newbie
Hi all,
I am going to give a few thousand pounds to my daughter as a gift (with her normal savings, she would still be under the 20K limit for ISAs). This is a portion of a small inheritance I have received and whilst I don't want to give it to her with strings attached, I would like it to make a difference in her life in the medium or long term (and she is very good with money so she does agree!).
She has had a Stock & Shares Lifetime ISA for the last 6 or 7 years but she is only 25 and, whilst she would like to settle, there are a lot of moving parts in her life at the moment. I wouldn't be surprised if she went to live abroad for a few years. The Lifetime ISA was a perfect vehicle to put this money long term and, at 18 was more appealing than a personal pension...until the review was announced ! So, now my question is: is it wise to put this money into the Lifetime ISA in the next few months or would it be better to park them somewhere else? If so, where?
I am going to give a few thousand pounds to my daughter as a gift (with her normal savings, she would still be under the 20K limit for ISAs). This is a portion of a small inheritance I have received and whilst I don't want to give it to her with strings attached, I would like it to make a difference in her life in the medium or long term (and she is very good with money so she does agree!).
She has had a Stock & Shares Lifetime ISA for the last 6 or 7 years but she is only 25 and, whilst she would like to settle, there are a lot of moving parts in her life at the moment. I wouldn't be surprised if she went to live abroad for a few years. The Lifetime ISA was a perfect vehicle to put this money long term and, at 18 was more appealing than a personal pension...until the review was announced ! So, now my question is: is it wise to put this money into the Lifetime ISA in the next few months or would it be better to park them somewhere else? If so, where?
0
Comments
-
So, now my question is: is it wise to put this money into the Lifetime ISA in the next few months or would it be better to park them somewhere else?What is it that makes you think the LISA may not be suitable? - it is unclear from your post why you think it may not be.
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
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.7K Banking & Borrowing
- 253.8K Reduce Debt & Boost Income
- 454.6K Spending & Discounts
- 245.8K Work, Benefits & Business
- 601.9K Mortgages, Homes & Bills
- 177.7K Life & Family
- 259.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards