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Have you... seen the US?
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Apr 11, 2020 07:08
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| # ¿ May 22, 2024 16:31 |
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I'm currently unemployed, with no income (and thus no tax) this financial year. I'm about to start working again. Normally, I'd consider an employer pension or SIPP however both provide either pre-tax payment or tax relief. I have sufficient savings to put the £4k into a LISA. I have previously owned property overseas, so a cash LISA doesn't make sense. It seems to me like this might be one of the cases where a S&S LISA makes sense with the understanding that it's locked away til I'm 60, so long as I can find one with fees only proportional to the size of the portfolio (and thus it won't be eaten up slowly by management fees due to lack of economy of scale). Does such a fund even exist? Put differently, would the free £1k worth the faff of setting one up, even if I end up rarely contributing to it (e.g. because another pension scheme is more financially beneficial)? The major risk in my mind would be whether I stay long-term in the UK - if I'm no longer a citizen, I'm illegible to contribute to it and lose the benefit. I don't mind having some money just tied up here until I'm 60 in that instance, but again wouldn't want it to just slowly atrophy from fixed fees. Nam Taf fucked around with this message at 19:01 on Apr 1, 2024 |
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Apr 1, 2024 18:59
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