The new Lifetime ISA launch date is 6 April 2017. It will be a no-brainer for first-time buyers as the government will add a 25% bonus on top of what you save – this means there will be £32,000 of free cash. For retirement savings it works the same way, but whether it beats a pension or not is a much trickier conversation. If you would like to assess the options available to you, please contact 1st Financial Foundations for further information on 01908 523 420 or email firstname.lastname@example.org
Lifetime ISA was one of the announcements in the Budget 2016 today, what does it mean for the next generation explained below:
Save up to £4,000 each year, and receive a government bonus of 25% – that’s a bonus of up to £1,000 a year. You can use some or all of the money to buy your first home, or keep it until you’re 60 – it’s up to you.