Overview
- Lewis advises those aged 18–40 to open a Lifetime ISA or Help to Buy ISA immediately and pay in £1 to keep options open.
- He cites reported government plans to replace the Lifetime ISA with a first‑time buyer‑only account that would remove retirement access after age 60.
- Details and timing of the replacement are not confirmed, and Lewis describes April 2028 as his own guess for when a new product could launch.
- A Lifetime ISA allows 18–39s to save up to £4,000 a year with a 25% bonus for a first home up to £450,000 or for retirement, but the account must be open for a year to use the homebuyer bonus.
- Lewis notes the £1 can be withdrawn later with a 6.25% penalty that would forfeit 6p and reiterates that workplace pensions are typically better for retirement for most people.