First Cash LISA revealed

Since being announced in the 2016 Budget, the Lifetime ISA (or LISA, as it has become ubiquitously known) has provoked a variety of reactions. Some are calling it the perfect savings vehicle for the Millennial generation, others are labelling it just another government gimmick, and the rest don’t care either way. Despite a fairly lukewarm launch from a limited number of providers, the LISA has attracted over 14,000 people in the first month, despite being only offered as a Stocks & Shares version. This has now changed, with the first Cash LISA being ...

How to be a full-time parent with a full-time pension

Imagine working 168 hours a week with no lunch breaks and very little holiday. It should, in theory, mean that you can retire early and comfortably, right? Unfortunately, for the many stay-at-home parents in the UK, this simply isn’t the case. Research shows that full-time mothers and fathers are among those least likely to save for their retirement, leaving them exposed to financial hardship in the future. According to the founder of MummyMoneyMatters.com, Kalpana Fitzpatrick: "Stay-at-home mums are at the highest risk. Saving for retirement is simply not on the agenda, because ...

The magnificent seven: The different types of ISAs explained

Countdown SevenIndividual Savings Accounts were introduced in the late 1990s and replaced PEPs (Personal Equity Plans) and TESSAs (Tax-Exempt Special Savings Account). Since then, they have become by far the most popular way of savings and investing, but have also expanded in number; there are now seven different types of ISA. You would be forgiven if this bewildering array of ISAs leaves you confused. So we thought a quick, at a glance guide, to the seven different types of ISA would be useful. #1: The original ISA This option allows anyone over the age ...

Lifetime ISA: More details announced, all your questions answered

20 pound notes tied upDespite a change of Prime Minister and Chancellor since it was announced in March’s Budget, the Government is pressing ahead with the Lifetime ISA (Individual Savings Account) and have announced further details. The concept is simple, a plan to help you buy your first home or retire; although the rules are more complex. Using a Lifetime ISA to buy a home If you plan to use the Lifetime ISA to buy a home, you must be a first time buyer. There are other rules which you need to be ...