Pension stuff, how's it all looking ? HAve you prepared ?

[edulord]

I started a few years ago diversifying my retirement savings, and part of it I put into gold through PhysicalGold. I think it's a good way to protect a portion of your savings from inflation and have something tangible to look at over the years. It's not a huge amount, but psychologically it helps you feel more at ease about your financial future.

[Yorick]

I dunno, but I nearly pissed myself laughing! Yorick in a flat cap??? More like a helmet and leathers kneedown/elbow down around Portimao circuit giggling like a loon from what I've learned about him online....

Right on brother. Sorry, Father

[weeksy]

Chatting with a few workmates recently and it kinda highlights that's we're all getting closer and closer to retiring

I'm thinking a little about what's next as i'm not just wandering off at 60 to fester..

I rekon i'll take a Cytech course or 3 and get myself qualified as a bike mechanic... In an ideal world i can then work part-time in a shop and just top up the pension while enjoying building bikes and talking rubbish to people

[Yorick]

Once the mortgage is paid off, that'll knock a huge chunk of necessary income.
That's a good plan to have fun whilst topping up the pension

[weeksy]

Once the mortgage is paid off, that'll knock a huge chunk of necessary income.
That's a good plan to have fun whilst topping up the pension

Yeah a lot in that context will depend upon the boys racing stuff, if he stops racing full-time that'll free up £10k-20k a year which would take care of the mortgage in short order... Which would make a massive difference. I've also got quite a few 'things' that'll be finished/finishing about this time next year that will free up a decent chunk of change too, especially if i use some of my 25% tax-free pension to take care of them, they're not huge debts in isolation, but they stack up when all added together... but won't take a massive amount of cash to clear.

There's a pending house move and van purchase that may scupper some of the plans though

[gremlin]

Chatting with a few workmates recently and it kinda highlights that's we're all getting closer and closer to retiring

I just have to listen to my creaking knees and aching back and the fact that I'm usually in bed by 10pm on a school night.

[Yorick]

Chatting with a few workmates recently and it kinda highlights that's we're all getting closer and closer to retiring

I just have to listen to my creaking knees and aching back and the fact that I'm usually in bed by 10pm on a school night.

Bloody kids nowadays

[Count Steer]

Having the means to generate an income in, nominally, retirement is a idea. Otherwise you're potentially just draining a kitty that could just suddenly plummet in value. (If it's not a company final salary pension).

I've been pension busy. Triggered the move of my last employer's defined contribution pension pot into a SIPP and the move of my FSAVC that I bought back in the 90s into the SIPP too.

Plan is to take the 25% tax free (before the budget) and feed it into cash ISAs over time and hold some in PBs meanwhile.

As for the SIPP the burning question is, given my views on what might happen politically and economically, in the near future, what (and where) to invest it.

It might just have to sit there as cash for a while.

[gremlin]

Bloody kids nowadays

The other Friday I passed the Gremlinette on the stairs as I was going up to bed and she was heading out for the night.

[JackyJoll]

.

Plan is to take the 25% tax free (before the budget) and feed it into cash ISAs over time and hold some in PBs meanwhile.

As for the SIPP the burning question is, given my views on what might happen politically and economically, in the near future, what (and where) to invest it.

It might just have to sit there as cash for a while.

You know best, but acting drastically on budget and economy predictions you have dreamed up (hope that doesn’t sound offensive) or read on Twitter can be expensive.

[Count Steer]

.

Plan is to take the 25% tax free (before the budget) and feed it into cash ISAs over time and hold some in PBs meanwhile.

As for the SIPP the burning question is, given my views on what might happen politically and economically, in the near future, what (and where) to invest it.

It might just have to sit there as cash for a while.

You know best, but acting drastically on budget and economy predictions you have dreamed up (hope that doesn’t sound offensive) or read on Twitter can be expensive.

Nah. Nothing drastic involved. a) the tax free allowance on pension pots is unlikely to go up this budget so I'll take it now b) I've got quite enough exposure to the markets already c) if I'm wrong and the markets boom in the next 6 months I'll lose a few % potential gain but save a bit on dealing charges etc d) I've never been on Twitter but, while I'm not the Sage of Omaha, I'm not entirely economy and financial markets illiterate, no dreaming required e) this lump is, basically, the emergency stash/care home fund and, as the bond markets aren't the safe haven they used to be, cash (or possibly gold but I've missed the boat there I think) is king.

I always planned to do something with this dormant pot - before my next birthday...so I have. It was all in 'low risk' stuff with that point in mind

[JackyJoll]

Seems we’re all pessimistic about the autumn budget!

[Count Steer]

Seems we’re all pessimistic about the autumn budget!

I'm pessimistic about a bit more than the budget.

(I suspect it won't be as draconian as is being floated in some quarters, more of a fudge that won't really address the structural issues, but will slightly cheese off a lot of people rather than seriously upsetting a few. ie typical budget. ).

PS the tax free withdrawal thing was always too good to be true anyway. Tax relief on the money going in AND on the money coming out? Now that's like a dream!

[Taipan]

Seems we’re all pessimistic about the autumn budget!

Labour should sack Rachael from accounts and ring the Torsten Bell! Damage limitation and all that...

[weeksy]

Mine is still doing incredibly well with provider and the fact work pay in a big chunk really helps.

I'm just debating in 12 months time how much of it to take out of the 25% tax free and what to do with it at the time it's not needed etc... In truth most of what i take out will be spent at the time... but i think the rest will go in an ISA unless anyone can tell me otherwise.

The pot after will still be over £500k so i'm not too worried about some spending

[JackyJoll]

I can’t tell you anything really but I’m not sorry I put mine in an all equities Stocks & Shares ISA.

At least not sorry yet anyway!

[Dodgy69]

I've been drawing off mine for 6 months, there's more in now than when I started. Could go bang anytime though.

[weeksy]

I've been drawing off mine for 6 months, there's more in now than when I started. Could go bang anytime though.

Well this is true of course... but in reality then i'd just work a little longer

[the_priest]

Mine has hiked up £25k in three months. Not a bad return on its investment, heading to £300k now and I've still got 13 years of investments to make in it. So it should likely be over £500k if it carries on like this, or it could be worth a packet of Hobnobs and a tin of baked beans next week. Who knows??

[Nordboy]

I do have some, or quite a few concerns about what's coming in the next 6-12 months. I've invested my lump sum into shares SIPP and ISA's. I can see there's going to be a challenging time ahead for the markets, I'm just hoping I don't lose that much and then it comes out the other end to my benefit.

I just have to hold my nerve, I'm in for the long run, as long as nothing major happens along the way. I try not to look at it all often, so I don't get too involved in it all.