[Misc] Retirement

[SIMMO SAYS]

I can't wait to retire, only another 40 years or so..

Sent from my SM-A326B using Tapatalk

Blimey you will be nearly 74 years old
And I will be 106 years old and still going to Dicks Bar before the game

 

[Beach Hut]

Blimey you will be nearly 74 years old
And I will be 106 years old and still going to Dicks Bar before the game

So long as you don't leave your coat laying about

 

[SIMMO SAYS]

So long as you don't leave your coat laying about

 

[dazzer6666]

Very subtle

Well spotted

 

[AmexRuislip]

Blimey you will be nearly 74 years old
And I will be 106 years old and still going to Dicks Bar before the game

If my retirement algorithm is correct, in 2062, Dicks Bar will part of Albions museum, where they'll be a virtual Simmo telling all to do one.

 

[DJ NOBO]

Agree with all of that……

Taking the 25% depends on a whole ton of factors. I wasn’t going to but the IFA actually explained why it was better to in my circumstances (won’t go through it all here as it’s boring and complicated and related to the lifetime allowance and inheritance tax planning - but leaving it in the pension isn’t to my advantage). Really just reinforces the need to have a good IFA

I’ve just completed a coaching qualification as out fishing club is running a programme to get new people into it. Had our first open day last week and it was brilliant, so enjoyable !

That’s great. Sounds like you’re in a good plaice.

























Apologies. I couldn’t knot.

 

[Sirnormangall]

Inflation is going to be the key over the year, or so.

Pot value will normally increase over time.

My tips:

Find a good IFA .... the advice for me two or three years prior to retirement was invaluable.

You don't need as much as some people say, unless you continue the same lifestyle, which, in reality, you don't.

Spread your investments so you're not too exposed in one area, we've avoided property, only because on moral grounds I feel this is causing those less fortunate too much of a disadvantage (but then again the pension funds probably are too but not directly as I see it)

I haven't commuted the 25% tax free element of the pensions, I think some people do so and treat it as a "one-off" lottery type win, but I say leave it in the pot to grow or, if taken out, reinvest in some way.

Due to my illness I've researched what I wish to do in terms of travel and hobbies and there's loads of money saving and useful tips on that new fangled interweb thing ... it'll never last!

That’s all sensible advice. The merits of taking the 25% will depend on your circumstances, though generally probably better to take it ( and reinvest it) - it’s tax free whereas if you take an income instead it may be taxable.

 

[Harry Wilson's tackle]

Can anyone recommend a decent IFA with insight on how best to deploy a lump sum? There are people who post on NSC whose opinions I'd respect. I'd need to be able to chat on Teams since travelling is not ideal and I live near the ******** of nowhere (Sheppy) albeit in the more delightful nether regions (of Faversham). Somewhat complex agenda, and quite out of my depth acting alone....PMs welcome.

 

[dazzer6666]

Can anyone recommend a decent IFA with insight on how best to deploy a lump sum? There are people who post on NSC whose opinions I'd respect. I'd need to be able to chat on Teams since travelling is not ideal and I live near the ******** of nowhere (Sheppy) albeit in the more delightful nether regions (of Faversham). Somewhat complex agenda, and quite out of my depth acting alone....PMs welcome.

PM sent

 

[Swansman]

Can anyone recommend a decent IFA with insight on how best to deploy a lump sum? There are people who post on NSC whose opinions I'd respect. I'd need to be able to chat on Teams since travelling is not ideal and I live near the ******** of nowhere (Sheppy) albeit in the more delightful nether regions (of Faversham). Somewhat complex agenda, and quite out of my depth acting alone....PMs welcome.

Let me manage the money.

 

[Harry Wilson's tackle]

Let me manage the money.

 

[LamieRobertson]

Might be worth it Harry

https://foodserviceequipmentrental.co.uk/why-should-i-open-a-pizza-business-with-steven-lilley/

 

[Harry Wilson's tackle]

Might be worth it Harry

https://foodserviceequipmentrental.co.uk/why-should-i-open-a-pizza-business-with-steven-lilley/

I'm IN!

 

[Steve Foster]

A good IFA will always give you a first meeting without charge.

This is not a plug for our firm but check out unbiased.co.uk or www.vouchedfor.co.uk

 

[Sirnormangall]

Can anyone recommend a decent IFA with insight on how best to deploy a lump sum? There are people who post on NSC whose opinions I'd respect. I'd need to be able to chat on Teams since travelling is not ideal and I live near the ******** of nowhere (Sheppy) albeit in the more delightful nether regions (of Faversham). Somewhat complex agenda, and quite out of my depth acting alone....PMs welcome.

PM sent

 

[Publius Ovidius]

I was made redundant after 22 years on the 30th and have decided to take earlyish retirement ( I am 64 this October)

The company is liquidated Sungard UK so I am claiming redundancy via the govt as well as 12 weeks notice and holiday pay!

I have a couple of decent pots which I will take the tax free and draw down when needed. I have a appointment wit pensionwise next week to see how best to do this.

Don’t really need a pension advisor but more a financial planner to set budgets etc.

 

[timbha]

I was made redundant after 22 years on the 30th and have decided to take earlyish retirement ( I am 64 this October)

The company is liquidated Sungard UK so I am claiming redundancy via the govt as well as 12 weeks notice and holiday pay!

I have a couple of decent pots which I will take the tax free and draw down when needed. I have a appointment wit pensionwise next week to see how best to do this.

Don’t really need a pension advisor but more a financial planner to set budgets etc.

Sorry the hear that. I hope your pension pots are secure

 

[Publius Ovidius]

Sorry the hear that. I hope your pension pots are secure

Well they go up and down with the markets, but I have never touched them and don’t really look at them on a daily basis!

 

[Harry Wilson's tackle]

Thanks for the PMs. Will act during the week

 

[Titanic]

Can anyone recommend a decent IFA with insight on how best to deploy a lump sum? There are people who post on NSC whose opinions I'd respect. I'd need to be able to chat on Teams since travelling is not ideal and I live near the ******** of nowhere (Sheppy) albeit in the more delightful nether regions (of Faversham). Somewhat complex agenda, and quite out of my depth acting alone....PMs welcome.

I too would be interested in talking to someone about defined benefits pension v SIPP... PMs welcome