Understanding Lifetime ISA (LISA)
5 Questions
1 Views

Understanding Lifetime ISA (LISA)

Created by
@RadiantStrontium

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the maximum amount of money a person can contribute to a Lifetime ISA (LISA) in a single tax year?

  • $20,000
  • $2,000
  • $4,000 (correct)
  • $16,000
  • What is the minimum age requirement to open a Lifetime ISA (LISA)?

  • 16 years old
  • 18 years old (correct)
  • 25 years old
  • 21 years old
  • What is the purpose of the 25% government bonus added to a Lifetime ISA (LISA)?

  • To encourage saving for retirement
  • To offset the effects of inflation
  • To help first-time home buyers (correct)
  • To provide an additional tax-free investment option
  • How long must a person have a Lifetime ISA (LISA) open before they can use it towards the purchase of their first home?

    <p>1 year</p> Signup and view all the answers

    What is the maximum age at which a person can continue to contribute to a Lifetime ISA (LISA)?

    <p>50 years old</p> Signup and view all the answers

    More Like This

    Lifetime Nutrition and Wellness Flashcards
    25 questions
    Lifetime Fitness Flashcards
    56 questions
    Lifetime Rock Wall Safety Quiz
    35 questions

    Lifetime Rock Wall Safety Quiz

    WellConnectedComputerArt avatar
    WellConnectedComputerArt
    Use Quizgecko on...
    Browser
    Browser