Dr. Amina Akoha, 41, saved diligently for a house but missed the Lifetime ISA deadline at 40, forfeiting £8,000 in government bonuses. You can only open one before 40 and collect the annual £1,000 bonus until then. If you're under 40, open one now.
I'll give a real example from our community where people have missed the Lifetime ISA. So there's this 41-year-old lovely A&E consultant, Dr. Amina Akoha. She had been saving diligently for a house for years, working hard, spending carefully, doing everything right. What she had not done was to open a Lifetime ISA before her 40th birthday. As at the time we are speaking, she had just crossed 40. When she came to one of our masterclasses, she realized that from age 32 to 40, when she was saving, she could have actually received up to £8,000 in government bonuses, and it's gone permanently because she didn't have the account, and that window has closed now. She can't open the account anymore, so she couldn't even get the future extra £1,000 bonuses. Her discipline was never the problem, the structure was. She wasn't aware. So if you're under 40 and you have not opened a Lifetime ISA yet, this is your reminder: you cannot get those years back.
