Bitofthebubbly
VIP Member
Im looking into opening an s&s LISA to save a little nest egg for when I’m 60. Only thing is I was just reading up and apparently you can be forced to cash in early if you go bankrupt or lose your job but have too much in savings for benefits. This stuff won’t affect me now but who knows what the future holds, I’m just wondering if they’re still a decent option for saving? Seems a little unfair to have to pay to use the money early if you fall on hard times. I guess this is where a pension beats the LISA.
I wouldn’t be against using it for a house deposit, but it seems unlikely i’d be able to save anything close to the amount id need anytime soon so I’m thinking longer term.
I wouldn’t be against using it for a house deposit, but it seems unlikely i’d be able to save anything close to the amount id need anytime soon so I’m thinking longer term.