Understanding the Lifetime ISA: A Beginner's Guide (UK LISA)

In this video, we provide a beginner's guide to the Lifetime ISA (LISA) in the UK. If you're new to the LISA or considering opening one, this video is perfect for you.

We start by discussing what a LISA is and how it works, including the benefits and potential drawbacks. We also cover the eligibility criteria, contribution limits, and the different types of LISAs available.

Next, we dive into the investment options for a LISA, including stocks and shares and cash savings, and what you should consider when choosing an investment strategy.

We also explore the penalties and charges associated with early withdrawal or using the funds for a purpose other than buying your first home or saving for retirement.

Finally, we wrap up with some tips and advice on how to make the most of your LISA, including how to choose the right provider and how to monitor and manage your investments.

Whether you're a first-time investor or simply want to learn more about the Lifetime ISA, this video has everything you need to know to get started.

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💸 Best Lifetime ISAS - https://www.moneysavingexpert.com/sav...
📚 Lifetime ISA (Gov UK) - https://www.gov.uk/lifetime-isa
🏦 Chase UK - https://www.chase.co.uk/gb/en/
🌰 Nutmeg (My LISA) - https://www.nutmeg.com/lifetime-isa

0:00 - Introduction
0:27 - What is a lifetime ISA?
0:54 - Who can use a LISA?
1:30 - What are the different types of LISAs?
2:40 - How much can you earn from a LISA?
3:46 - Common Mistakes to Avoid

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