Hey folks! I'm looking at the potential of opening a new Lifetime ISA since they've just opened. I've got ILR and looking to get citizenship this year. It's unlikely I'll use it to buy property and would instead use it as a sort of savings account for retirement.
I'm not very financially savvy necessarily and have dyscalculia so I can struggle sometimes with financial things. I have my own personal budget and I'm a big saver, so when I say I'm not 'financially savvy', it doesn't mean I blow my money away but rather that I don't always know the best way to go about saving money or not overspending. For example, when I was self-employed I managed to spend all the money I was meant to be saving for tax purposes on US student loan payments which were not tax deductible and that ended in a not so great bill at the end.
So I guess if there are just basic financial things about these accounts that I should know or if you think it's not worth it because a pension plan is better (I've yet to get a pension plan from a workplace yet because I've always been on contract and haven't had a permanent job as of yet), then it'd be good to know.
Anything you can tell me would be great. I understand the basics of the Lifetime ISA and also the fine if you don't use it to buy property or if you try to get the saved funds before you're 60... what do you think?
