LISA or S&S ISA

[iwantsunshine1]

I'm currently saving £170 a month into my LISA and will top it off to the 4k end of the year. Am I best off keep putting it in the LISA or put into S&S ISA which I also have? Wanting it for retirement. Thanks

For retirement it's better in a LISA as the government add a top up.

(I'm assuming here that the LISA is also stocks & shares).

@snowlaser thank you. No it's not in a stocks and shares one so maybe this is something I should look at doing. Thanks

A pension may be better than a LISA for retirement depending on your circumstances, eg you will save more tax if you are a 40% taxpayer via a pension. Just putting that out there in case you hadn't considered it.

I've no experience so no advice except that I moved my Nutmeg S&S ISA into a N/W cash one. It crashed during Covid (fair enough) and gradually crept back to original £20k where it sort of hovered at the £21.5k mark for a couple of years. I worked out that, unless I answered the annual reviews to put me in the high-risk category, I was never going to make much - as soon as it crept up a bit, they took their expenses. Perhaps if I'd had enough going spare to add to it? Anyway, it was only an experiment that didn't work for me.

I'm late 30s and as part of my retirement planning I pay into both a S&S LISA and S&S ISA in addition to my work DC pension. Whilst this means I'm not maxing out the 4k yearly allowance on the LISA, I want to give myself options with respect to accessing the funds. E.g. going part time, or retiring early. If I was in a position to afford to use my full £20k ISA allowance though, I'd probably do the full £4k into my S&S LISA, with rest in the ISA.