Ndubuisi 'Andy' EgwimMoney Coach for Medics|Ex-NHS GP|21+ Yrs Investor| Founder, MoneyWiseDoctor.com|Helping Medics Avoid Big Money Mistakes

Lifetime ISA - Get 25% FREE Money for House or Retirement!

2 Dec 2025 · 1 min

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1:09

Ndubuisi 'Andy' Egwim explains what a Lifetime ISA is: a UK savings account you can open between ages 18 and 39 that receives a 25% government bonus on money saved. He gives numerical examples (£1,000 → £250 bonus; £4,000 → £1,000 bonus) and notes the account can only be used for two purposes: buying a first home or saving for retirement; if you already own your first home, the Lifetime ISA is only usable for retirement saving.

Questions this video answers

Between 18 years and 39 years.

25% of the money saved.

£250.

£1,000.

Buying your first house or saving for retirement.

Chapters

Now if you are closer to 40, you need to listen to this one. You need to lean in and listen to this one. Lifetime ISA is a special account you can open between 18 years and 39 years. If you have a Lifetime ISA, any money you save in that Lifetime ISA, the government is going to give you 25 of whatever money you save for free. If you save a thousand pounds every taxi, the government is going to give you £250. This is basically free money, okay? Now if you save £4,000, the government is going to give you a thousand pounds. So this is lifetime isa. Now there are some issues with the lifetime is that you should know. And the downside of that account is that you can only use it for two things. Two things. One is for buying your first house and the second one is for retirement. So if you have already bought your first house, you can only use an isa, a lifetime ISA, for saving towards your retirement. So this is one of the tools you can use towards planning for your retirement.