What is LISA Calculator?
A Lifetime Individual Savings Account (LISA) calculator is a financial tool designed to assist individuals in estimating the potential growth of their savings within a LISA investment account over a specified period. A LISA is a specialized savings account available in the United Kingdom that offers favorable tax advantages for individuals saving for their first home or retirement. This can help you grow your wealth.
The calculator typically takes into account variables such as the monthly investment amount, the starting and ending ages of the investor, and the annual interest rate. By simulating the contributions, government bonuses, and potential investment returns, the LISA calculator provides users with a projection of the total amount accumulated in their account. This tool helps individuals make informed decisions about their savings strategy and financial goals within the framework of a LISA.
You can read more details here https://cashweavers.com/alert-lifetime-isa-lisa-the-best-investment-opportunity/
LISA Calculator
To use this calculator:
- Enter the monthly investment amount in pounds.
- Enter the starting age.
- Enter the ending age.
- Click the “Calculate” button.
As an example, for a £200 per month investment from age 20 to age 50 with a 5% annual interest rate, the total amount at age 50 would be calculated and displayed in the result section.
Self Contribution Total: £72000.00
Government Contribution Total: £18000.00
Growth Total: £119282.37
Returns Total: £137282.37
Returns Percentage: 190.67%
Final Portfolio Amount at age 50: £209282.37
