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## Financial Situation of a 23F with Inheritance

I, a 23-year-old female, received £50k in inheritance, which is split as follows:
– ┬ú20k in a LISA (with an additional ┬ú5k government bonus)
– ┬ú20k in a 5% ISA
– ┬ú10k in a 5% easy access savings account

Living in London and currently pursuing a PhD, I do not foresee purchasing a house in the near future, possibly not for the next 10+ years. There is also a possibility that I may choose to live abroad, although I am still undecided. The capped amount of £450,000 for LISA towards purchasing a house is concerning, especially considering the property prices in London, where £450k would only suffice for a one-bedroom apartment in zone 2 at best. This poses a dilemma as to whether keeping £20k in the LISA is a wise decision, especially if I later decide to buy a property exceeding the capped amount or opt to purchase abroad.

While the LISA can be utilized for retirement savings, my intention is to utilize this lump sum for a house deposit in the future. I had been anticipating the possibility of the cap being increased in the March budget, but unfortunately, that did not materialize. If I choose to withdraw my funds from the LISA now, I would receive £18,750 back, incurring a loss of £1250. Despite this loss, with the current interest rates, I could potentially recover this amount in approximately a year and a half (provided the rates remain at 5%). Additionally, it concerns me that the £20k in the LISA is not yielding substantial interest at around 2%, leading to a significant missed opportunity.

The situation has left me perplexed, and I seek advice on whether it is advisable to incur the loss now for increased flexibility in utilizing my funds in the future.

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