Pension Pot

[DenisLawBackHeel74]

And I thought I was doing alright, but a £3m pension pot is some achievement.

It’s not quite at that level and includes stocks and shares ISA….but I trade as a hobby and have done for nearly twenty years and generally done quite well….

 

[blue44]

NI payments stop when you reach state retirement age whether you continue in work or not.

And on pensions,or at least mine.I drew my 1995 nhs section pension in april this year after becoming 60 in feb.Just pay income tax at 20% on it.

 

[ColinBellsjockstrap]

It depends on a lot of things.

Do you own a decent house outright, that you could downsize sometime in the future, to free up a wedge of cash, or are you stuck in the rental trap.?

Do you want to go on expensive foreign holidays?

Do you want a new car every two years and go for posh meals out twice a week?

Or do you just want the simple life, and the odd night in the pub?

Currently you get your state pension at 67 and it's around £230pw if you qualify.

 

[Kompany Car]

It’s not quite at that level and includes stocks and shares ISA….but I trade as a hobby and have done for nearly twenty years and generally done quite well….

Just out of curiosity who do you use for your brokerage account?

 

[DenisLawBackHeel74]

Just out of curiosity who do you use for your brokerage account?

I use Fidelity for most of my pensions and share dealing, and have even migrated three previous work place pensions into it so I can manage the funds. I also use HL since they were always much better for US stock market, responsive etc.

 

[denislawsbackheel]

It depends on a lot of things.

Do you own a decent house outright, that you could downsize sometime in the future, to free up a wedge of cash, or are you stuck in the rental trap.?

Do you want to go on expensive foreign holidays?

Do you want a new car every two years and go for posh meals out twice a week?

Or do you just want the simple life, and the odd night in the pub?

Currently you get your state pension at 67 and it's around £230pw if you qualify.

Currently only a third of fully paid up pensioners get that much despite the new pension being in since 2016.