She used a UK government bonus to turn £12,000 into £20,000 in under three years
3 min read · RealCase summary
Camilla Colley used a Lifetime ISA, contributing the maximum £4,000 allowed each year, for a total of £12,000 in personal contributions over three years.
The government topped up each year's contribution with a 25% bonus — £1,000 annually — while Colley split the underlying investments between individual shares and tracker funds.
Combining her contributions with the government bonuses and investment growth, her Lifetime ISA reached £20,000 over the three years. "Just take the action to start – you don't have to put too much money in," she said.
Key takeaways
- ›Contributed the maximum £4,000 (~$5,100) a year into a Lifetime ISA for three years
- ›Collected the UK government's 25% bonus on contributions — about £3,000 (~$3,800) in free money
- ›Combined contributions and bonus, invested in shares and tracker funds, grew to £20,000 (~$25,400)
Original source
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