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Should I swap out my HelpToBuy ISA for a Lifetime ISA?
The UK government has recently released a new type of ISA, the Lifetime ISA, to help first time buyers, such as myself.
My goal is to save £100,000.
My current savings are (all figures are rough):
Help To Buy ISA: £6000 (monthly payments of £200, opened: ~1 year ago)
Stocks & Share ISA: £3200 (initial investment: £3000, opened: ~1 year ago)
Rainy day savings: £6000 (sitting in a current account, not accuring interest)
My monthly income is £2200. My monthly expenses are quite low at around £500.
I am not putting anything into my pension yet, but this is a topic for another question.
Given the benefits of each ISA and my goal, what do you think I should do? Should I move the funds from the Help To Buy ISA into my Stocks And Shares ISA or into a Lifetime ISA?