Saving for the future: Foresters Friendly Lifetime ISA Video
Saving for your future with a Lifetime ISA
At Foresters Friendly Society we understand how daunting it can be looking towards your future with any level of certainty.
Whether it is furthering your education, buying your first home, starting a family, or planning for your retirement, there’s a lot to consider and we want to help you by providing simple financial options to support your goals.
Whilst nobody can predict the future, you can certainly start to prepare for it, and that’s where the Foresters Friendly Society Lifetime ISA can help you save for your first home or your retirement.
Want to know more about the benefits of Lifetime ISAs and tax-free savings? Take a look at our short video above.
You can never quite see into the future.
How do you know which path you’ll follow? Which doors you’ll open? Or how things will turn out?
What you do know is that rent and house prices are high, making it difficult to get on the property ladder.
And maybe you haven’t even thought about it yet, but you should be thinking about the cost of retirement too. You’re going to live longer and the state pension might not be enough to get by on.
Whether you’re dreaming of buying your first home or you’d like to enjoy a comfortable retirement, you know you’re going to need plenty of this …
And while you can’t predict the future, you can prepare for it.
To help you do that, the Government’s created a new tax-free savings account. You can use it to save towards a house deposit or savings for your retirement. It’s called a Lifetime ISA (or LISA).
If you’re between 18 and 39 you can open a LISA.
And you can save up to £4,000 a year, until you are 50.
What’s so special about a LISA?
- When you save money in a LISA you don’t have to pay tax on the returns you get.
Tax rules may change and depend on individual circumstances.
- The government will boost your savings by adding an extra 25% every year – so you could get up to £1,000 extra a year.
- So, for every four pounds you save in a LISA, the government gives you an extra £1 for nothing. What’s not to like?
Designed for people who want to save for the medium to long term, typically five years or more.
The Foresters Stocks & Shares LISA aims to help your investment grow steadily while protecting it from the ups and downs of the stock market.
Please be aware that in some investment conditions, you may not get back the full amount originally invested in a Stocks and Shares ISA
All this adds up to help you get the home, retirement and the life you want.
The content of this article is for information purposes only and does not constitute financial advice. We do not offer financial advice. If you’re unsure as to the suitability of a product you should seek advice from a Financial Adviser. You may have to pay for this advice.