Your savings questions answered

World Savings Day was on October 31st and our managing director, Jamie Smith-Thompson, took to Twitter to answer your questions.

Leading up to the big day, we asked for your questions on all things savings – from getting onto the housing ladder to where the best place to save is.

While everyone knows the importance of saving, it can still be confusing. Even if you want an ISA do you want a fixed one, an instant cash one, a Help to Buy ISA, or wait for the new Lifetime ISA?

Then there are pensions: if you won’t need it for a few decades, when should you start paying into it? What if you’re also saving for a house deposit?

As it turns out, these are the very topics that we were answering questions about.

If you didn’t catch our live Q&A, here are some of the questions that we received. And remember, you don’t need to wait for a Q&A to ask us something – if you’ve got a relevant question that isn’t addressed here, join in the conversation on social media.

Our first questions, from Cheryl and Lizi, highlighted the confusion with the different savings options:

Q&A Response

Q&A Questions

One ISA for a house and retirement: Is the Lifetime ISA as good as it sounds?

 

Matthew asked a question on the lips of many younger people thinking about their first home and their future:

Q&A Response
Pension or ISA: which should you use for retirement?

 

Will and Sally raised the important topic of when is too soon to start thinking about a pension, especially if you have other priorities as well:

Q&A Response

Q&A Response
Pension tips: What to do in your 20s

 

With this Q&A we wanted to remove the mystery and confusion around saving, and if you’ve got a question that hasn’t been answered here you can still ask us on Facebook or Twitter.

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The details provided in this article are for general information only and are in no way deemed to be financial advice. All of the material is correct as of the publication date, but could be out-of-date by the time you read the article. For our latest information and news, please see our articles section: https://www.portafina.co.uk/whats-new

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