Is a Lifetime ISA Worth It? (The Truth)

Are Lifetime ISA's worth it? I look into the real reason the government want you to buy house's through the help to buy scheme.

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[adalineo]

Honestly begging anyone who is thinking of buying their first home for a residential (not buy to let) purpose to ignore this video and do your own research! Samuel has massively misrepresented the facts - the 25% charge for example includes the government bonus.

Eg if you put 20, 000 into the LISA over 5 years, you get 5000 from the govt. if you were to decide you didn’t want a first home, and removed your money, you would be penalised 25% of £25, 000 ie 6250 removed, leaving you with £18, 750.

When you take into account how much you would have gained in interest etc over 5 years, you actually wouldn’t have lost that much.

Would only recommend the LISA if you’re serious about moving out and buying a property for yourself - if that’s the case, ignore this hugely inaccurate video and go and do your own research! Xx

[duncan]

Incase anyone’s confused, when you take money out and are penalised, you lose around 6% of your money, because they take 25% off you but that’s including the bonus they’ve already given you

[babyfreezer]

A few things are wrong:
- The 25% top-up happens a month after you put in money, not when you buy. Hence, the withdrawal example was wrong. Putting in 20k, means you will have 25k. If you withdraw with the penalty, you will get £18750 back.
- It is restrictive but if you want to own a home to live in, a LISA has clear benefits
- Most LISA's are Stocks and Shares, meaning your investments could grow
- Its true saving alone won't make you rich, but it is just as important as investing and making more money. You can make lots of money but if you spend it all, you are just as poor.

[jessecaldwell]

I have to disagree here, Why would you give up on the option of 25% Bonus? Your point about only being able to save £4, 000 a year is valid, however whats to say you cant save that £4, 000 a year and then put more into another savings account and combine the both for your deposit? Seems very stupid and stubborn to turn your head at such an offer.

[bradlowes]

In my opinion the lifetime ISA is just another way to diversify your funds. You should never just let your money sit around in your bank from ‘saving it’. Put your money to work

[klaroi]

legit just watched a documentary proving this guy is a scammer, he has about 12 different companies to which he only owns 2 properties and has a less then average credit score, truly sad, you never bough 6 houses at the age of 19 you were working as a magician at the age of 23!

[Hassan-dwse]

6 properties at the age of 19 ?? What drugs did you sell mate 😅

[jackiea]

Keep doing your thing Samuel, if people want to disagree that's them everyone has a different path and believes different things, no point trying to persuade the unconvinced

[danieljames]

Thank you for the video, really useful

[Yas-uhso]

You just got a new subscriber! I agree with you on this!👍🏽

[RcRc-yhjx]

Grateful for your videos. So informative 👌

[ShootingStar]

I have a LISA and its great as long as you don't put all your savings in there. Always keep a separate stash in a different account for hard times etc.

[MrAcealone]

@Samuel Leeds Get Martin Lewis on your next show - Would love to see it!

[garynev]

If you’re 100% set on buying a house in the near future (to live in) a LISA is great. Can be used for the deposit. The historical returns of the stock market average almost an 8% return since its inception. If you know where to put your LISA it’s a great investment. Nothing better than a 25% head start on your money.

[liambetson]

I have a Lifetime ISA. I have been travelling for 2 years and been fortunate enough to max the inout every year so works really well. When we get back we’ll use the extra £3k from the government to get a better LTV and hopefully re-finance and take our the £3k as hard cash!

[asmakebati]

You lose 25% of the total. Which includes the bonus. So you don’t really lose £5k of your money entirely so that’s wrong.

[ImBandit]

Would you say that using this scheme could be good for helping to buy your first home to then renovate and sell for profit a couple of years down the line?

[danjason]

hi sam, what type of company do you use for your properties and why?
look forward to your reply and keep smashing it! hoping to attend a crash course soon!

[seanhutcheson]

Sean Hutcheson
1 second ago
Great video! Quick question: If I own a rental property in an LLC, can i still use a LISA to fund the purchase of my first personal property (intending to live in it)? Thanks!!

[caribbeancurls]

Samuel would you endorse a Lisa for retirement, other than investing how do u save for retirement?

Great video by the way!