Knowledge Base

Planning your retirement

Started by: richard_soponski
On: 19/07/2017 | 17:28
Replies: 13

by: tradertall
on: 10/08/2017 | 15:39
i wonder who would employ a 68yo..?
Get a free giffgaff Sim
Message 11 of 14
by: shiv658
on: 10/08/2017 | 16:56

The problems with pension planning are the numerous rule changes by all new govts.  - whatever the political party.


Started a pension early (in my teen's!)  and due to my own investment succes had to stop investing in the pension and diversified into other areas eg PEP's, ISA's, VCT's, and even premium bonds!


Note if your pension pot is in excess of £ 5 - 600,000 and you are not yet aged 50 your pot could end up too big because of the potential growth of your fund - so take some advice and speak to an independant financial advisor (IFA) re pensions / drawdowns/annuities / uncrystalised funds pension lump sums (UFPFS!) etc. etc.

Message 12 of 14
by: richard_soponski
on: 10/08/2017 | 22:19

@shiv658  I was never in a position to exceed the LTA but put money into ISAs and shifted it around high interest accounts ( those were the days ! ) It's irritating having to squirrel money away now to avoid being stung, but a man's gotta do... Smiley Wink


New phone, new name, retired.
Message 13 of 14
by: shiv658
on: 11/08/2017 | 12:11

Agree Richard, but govt's have only got themselves to blame for the race to the bottom re interest rates - this has led to alternative high yielding investments and consumers taking on too much debt. Interest rates have been too low for too long. The last cut to 0.25% was blamed on Brexit uncertainties - the economy has motored on regardless, and this cut was totally unneccesary and should be reversed ASAP. I'm not promoting base rates going back to 10%+ any time soon, but the cut to 0.5% was due to an economic emerengency 7-8 years ago (?), and in my book an emergency can be measured in weeks / months not years! Base rates should have been around 1-2% several years ago. This would have avoided the short term pain that individuals & companies will now face when rates start to rise next year.

Message 14 of 14