Investments

[dickie davies]

Obviously if you do take an annuity then you need to shop around/seek advice.

There are also products called fixed term annuities that might be suitable for you.

If annuity and taking tax free cash in 2 years is possible then you need to be careful on how much risk you take as a two year term is not long and investment decisions can backfire over a short time period. Aviva also have a pension cash fund that might be appropriate for some or all of the funds in this situation. Cash funds are returning about 5% on average at the moment.

The cash fund would be perfect but isn't one of the options open to me
As I said, they've listed me thirteen funds I can transfer to

 

[forevermancity]

We are expecting circa £50k in the next couple of months, does anyone with better knowledge than me know what’s best to do with it? Currently we are going to split it into 2/3 accounts at around 5% each and add to it every month but the finance world isn’t my forte and it’s a sum of money that has me sweating already. Any advice?

 

[tommybooth]

Pension. Mrs Booths pension went up 5000 in 7 days!!

 

[Gareth Barry Conlon]

We are expecting circa £50k in the next couple of months, does anyone with better knowledge than me know what’s best to do with it? Currently we are going to split it into 2/3 accounts at around 5% each and add to it every month but the finance world isn’t my forte and it’s a sum of money that has me sweating already. Any advice?

The most important thing to do is use the isa allowance.

No need to split if you are just using savings accounts, the fcs pays out up to 80k.

If you don't need the cash anytime soon then a longer term fixed savings is a good option. Maybe put some away for 5 years.

 

[forevermancity]

The most important thing to do is use the isa allowance.

No need to split if you are just using savings accounts, the fcs pays out up to 80k.

If you don't need the cash anytime soon then a longer term fixed savings is a good option. Maybe put some away for 5 years.

Thanks mate il think about that especially some for 5 years. Sit next to a conspiracy theorist at work, he’s saying that if the Bank of England go bankrupt the FCS won’t pay out. Usually don’t take notice of his waffle (flat earth, dinosaurs weren’t real etc) but the way the govt is going that’s not entirely impossible, is it? Need to become more educated on these matters now to be fair!

 

[forevermancity]

Pension. Mrs Booths pension went up 5000 in 7 days!!

I’m 37, would take a strong willed person to stick that away for 20 years :)

 

[Kompany Car]

Pension. Mrs Booths pension went up 5000 in 7 days!!

If she has a large proportion of her pension in US equities its been like that for a while, particularly if its tech heavy. If she can stay the course and not worry about the wild swings you can get both negative and positive, in the long run it should perform well. Obviously if she is coming up to retirement it may be wise, depending on how many other savings/sources of income you have, to move a percentage into something a bit less volatile.

 

[Kompany Car]

Thanks mate il think about that especially some for 5 years. Sit next to a conspiracy theorist at work, he’s saying that if the Bank of England go bankrupt the FCS won’t pay out. Usually don’t take notice of his waffle (flat earth, dinosaurs weren’t real etc) but the way the govt is going that’s not entirely impossible, is it? Need to become more educated on these matters now to be fair!

If the Bank of England go bankrupt, with the UK being the 6th largest economy in the world, then you might as well forget about money altogether on a global basis. Whilst you can say almost anything is possible, the question you need to ask is how probable is it.

 

[117 M34]

I have a workplace pension for a job j left in December. Was only there a bit over 4 years so not major money in it.
I have a new workplace pension from new job. Can I easily transfer the old one into the new one so that I can manage it easily as I'm sure that by the time I come to retire, I'll have forgotten about it.

 

[Stephen Ireland's pants]

We are expecting circa £50k in the next couple of months, does anyone with better knowledge than me know what’s best to do with it? Currently we are going to split it into 2/3 accounts at around 5% each and add to it every month but the finance world isn’t my forte and it’s a sum of money that has me sweating already. Any advice?

Nationwide are doing a 1 and 2 year fixed rate isa which is paying close to 5% . Also you are still young enough to open a lifetime isa. But I don't know if they are good or bad .