The FTSE

  • Thread starter Thread starter worsleyweb
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Ho Chi Man City said:
Was self employed also last few years of my working life, I’ve got similar, Artemis US Select and despite dropping in April it’s now showing an increase of 5.51% in the past 3 months.

My draw down pension which is invested in a SIPP, is 10.2% up from last July but before the Iran conflict started was knocking on over 12%. Could take that interest completely tax free, transferred the pot from a defined benefit but it ain’t an easy process and quite expensive to do so.
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Blimey, that was a brave move. I assume the Cash Equivalent Transfer Value was very favourable.
 
RobMCFC said:
I went to a few pensions presentations at work in the early years and the figures they were telling me I should put in were laughable, so I switched off and ignored them after this point.

The fact is, very few people can afford to put in 12, 15, 20% of their salary whilst they are paying off a mortgage, bringing up kids, and just as importantly, living life whilst they are young and healthy.
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I think its so hard to be given this advice when youre young (assuming early 20s), as most people are frivolous and just cant comprehend that they should sacrifice money that they could be spending on enjoying themselves, and rightly so.

There is a fine balance as always, and as ive hit 40, I do wish I started putting something away at that age, despite how minimal, as it then means that you dont have to be as strict as you get older.

Again its subjective as some people just simply can't afford, or want to sacrifice money that theyll not see for 20-30 years.

For me life is all about balance as it makes me feel comfortable, that means paying into a pension, a little into shares, and still leaving me with a decent enough amount to enjoy on socializing, holidays etc

My only advice to my younger self, was to stop wasting so much money on shite food as I went through a spell of probably having 2 or 3 Takeaways a week and spending a good few hundred quid a month on it; thats the money that can be used more wisely IMO

The good thing about life though, is that everyone gets to tell their own version of what works for them
 
hampshireblue said:
Blimey, that was a brave move. I assume the Cash Equivalent Transfer Value was very favourable.
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I’d have had to live until 93 years old to accrue the same value and only a portion of it increased by 3% pa so the current value would depreciate in real terms. Also if I pop my clogs before my wife she would only get 50% of the pension, she’d have to live until about 107 to break even.

It’s now locked away in a SIPP with the value rising 10% this last year. I’m not drawing down as I’m funding my lifestyle from my state pension, savings and ISA’s. Once that money goes I’ll start drawing down. Also when I do die the SIPP value goes to my wife tax free.

It was an absolute no brainer but I had to go through a Financial Advisor who are responsible for agreeing the course of action I wanted to take and they assess “attitude to risk”, mine came out as 6 out of 10 meaning my funds had to have no more than a moderate risk factor.
 
Ho Chi Man City said:
I’d have had to live until 93 years old to accrue the same value and only a portion of it increased by 3% pa so the current value would depreciate in real terms. Also if I pop my clogs before my wife she would only get 50% of the pension, she’d have to live until about 107 to break even.

It’s now locked away in a SIPP with the value rising 10% this last year. I’m not drawing down as I’m funding my lifestyle from my state pension, savings and ISA’s. Once that money goes I’ll start drawing down. Also when I do die the SIPP value goes to my wife tax free.

It was an absolute no brainer but I had to go through a Financial Advisor who are responsible for agreeing the course of action I wanted to take and they assess “attitude to risk”, mine came out as 6 out of 10 meaning my funds had to have no more than a moderate risk factor.
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My advisor got me in at the same level,I' was 7 out of ten and the same risk factor,not sure about anyone else on here but I thought the fee for the financial advisor was very high ( £5,000 ) not sure if that's about the usual fee,so if someone can confirm that please I'd appreciate it
 
man on the moon said:
My advisor got me in at the same level,I' was 7 out of ten and the same risk factor,not sure about anyone else on here but I thought the fee for the financial advisor was very high ( £5,000 ) not sure if that's about the usual fee,so if someone can confirm that please I'd appreciate it
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Yep, mine came out around 4.5k in the end but got it a bit cheaper as my mate is an IFA who recommended the company I went with.

My mate was prevented from dealing with the transfer by the FCA who are very strict and wouldn’t allow his relatively small businesses to process even though he has the necessary indemnity insurance.
 
Ho Chi Man City said:
Yep, mine came out around 4.5k in the end but got it a bit cheaper as my mate is an IFA who recommended the company I went with.

My mate was prevented from dealing with the transfer by the FCA who are very strict and wouldn’t allow his relatively small businesses to process even though he has the necessary indemnity insurance.
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Cheers mate,don't feel as if I've been ripped off now as you say that's about the usual cost
 
dickie davies said:
The US markets seem to be unaffected and are ploughing ahead
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It is looking increasingly like the markets are getting wise to Fart and getting along as if he doesn't exist. My S&S ISA has started to grow gain even if it is slow. Already it is back above where it was before all this trouble started.
 
Fred_Quimby said:
It is looking increasingly like the markets are getting wise to Fart and getting along as if he doesn't exist. My S&S ISA has started to grow gain even if it is slow. Already it is back above where it was before all this trouble started.
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Said similar a couple of weeks back, the stock market has largely stopped reacting to what the **** says and does. Now if only the world could do the same
 
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