Retirement

[im not roland rat]

St James Place don't have a very good reputation and their fees are less than transparent and some of the highest in the sector.

Is that not a bit of an outdated view ?
They changed all their charges a couple years back and have been pretty good performance wise for a few years.

 

[42]

Is that not a bit of an outdated view ?
They changed all their charges a couple years back and have been pretty good performance wise for a few years.

Think the main issue was that they were charging hefty sums for advice that people weren't receiving. However their fees are still on the higher side & id wager youd still be better off just putting money into a low cost index fund

 

[JAZZMANB]

I pretty sure that comfortable bracket also includes a new kitchen and bathroom every 10 years as well. I mean how many people change these every 10 years. Both of mine are 10 years old and they look as good as the day they were fitted.

If youre still keeping up with the Jones's at that part of your life you misread the script .
I think we naturally start reverting back to simple things for pleasure and contentment

 

[im not roland rat]

Think the main issue was that they were charging hefty sums for advice that people weren't receiving. However their fees are still on the higher side & id wager youd still be better off just putting money into a low cost index fund

Would you be though ? What level of growth have SJP achieved versus these low cost funds? Quick ai search suggest that SJP 100% equities has delivered 22% growth in last 12 months and 40% over the past 3 years. How does that compare? I genuinely dont know the answer btw but intrigued to know.
I do know that SJP changed all their pricing a few years ago and they dont charge more than you were paying if you transfer from one provider to SJP. They are actively trying to get away from this 'expensive' tag.

Think the main issue was that they were charging hefty sums for advice that people weren't receiving. However their fees are still on the higher side & id wager youd still be better off just putting money into a low cost index fund

 

[Matt Hopkins]

Would you be though ? What level of growth have SJP achieved versus these low cost funds? Quick ai search suggest that SJP 100% equities has delivered 22% growth in last 12 months and 40% over the past 3 years. How does that compare? I genuinely dont know the answer btw but intrigued to know.
I do know that SJP changed all their pricing a few years ago and they dont charge more than you were paying if you transfer from one provider to SJP. They are actively trying to get away from this 'expensive' tag.

I'm 77% equities 13% bonds and 10% cash. My Vanguard, adjusted for me taking my pension, was up 32% Don't even look at my charges @42 seems to know all about them, I've forgotten Is it capped at £375 then fund fees of about 0.23%

 

[Rammstein]

Is that not a bit of an outdated view ?
They changed all their charges a couple years back and have been pretty good performance wise for a few years.

Met with an SJP adviser, whose first comments were " You may have read or heard about some practices we used to use.... " Not a great start. That, and they would have charged just under £12k for the initial set up ( for an inheritance my wife had received ) just gave us negative vibes.

I noticed they'd 'improved' their charges, but their previous behaviour put us off, and it wasn't as if they changed willingly.

They may well be wonderful now, but the element of doubt helped our decision to say a polite "No, thank you" .

Again, just our opinion fwiw.

 

[Fletch]

anybody taken an annuity ?
in 2 minds whether to go this route for the missus , just a ten year annuity to bridge until SP kicks in . Once SP kicks in would rather use the S+S ISA she has and cash, keeping tax to a minimum.
went on moneyhelper.org.uk

for 100k of pension pot - would give £12,780 guaranteed a year for a ten year period - however couldn't find an option for a quote where it increases with inflation each year ?

You must be logged on to see external links

 

[Jacksnuts]

anybody taken an annuity ?
in 2 minds whether to go this route for the missus , just a ten year annuity to bridge until SP kicks in . Once SP kicks in would rather use the S+S ISA she has and cash, keeping tax to a minimum.
went on moneyhelper.org.uk

for 100k of pension pot - would give £12,780 guaranteed a year for a ten year period - however couldn't find an option for a quote where it increases with inflation each year ?

You must be logged on to see external links

I’m 55 this month and nowhere near able to retire but I do have a canny pot with all the places I’ve worked at and have been considering an annuity or drawdown but I’ve got no idea how it all works.

My dad is dead against it like thinks I should leave it all until I do retire.

 

[Fletch]

I’m 55 this month and nowhere near able to retire but I do have a canny pot with all the places I’ve worked at and have been considering an annuity or drawdown but I’ve got no idea how it all works.

My dad is dead against it like thinks I should leave it all until I do retire.

lot wiser folk on here than me, but would agree with yuur dad, just let your pension grow while working , dont access it while still working full time
at some point youre going to need it

 

[Darlo1973]

lot wiser folk on here than me, but would agree with yuur dad, just let your pension grow while working , dont access it while still working full time
at some point youre going to need it

I would agree. Taking a pension while working may seem like free money but it could push you into a higher tax band and limits what what you and your employer can contribute.

It may be worth taking a lump sum if you have mortgage to pay off or need to do some home improvements but there are also downsides to think.

 

[Shandy drinker]

Met with an SJP adviser, whose first comments were " You may have read or heard about some practices we used to use.... " Not a great start. That, and they would have charged just under £12k for the initial set up ( for an inheritance my wife had received ) just gave us negative vibes.

I noticed they'd 'improved' their charges, but their previous behaviour put us off, and it wasn't as if they changed willingly.

They may well be wonderful now, but the element of doubt helped our decision to say a polite "No, thank you" .

Again, just our opinion fwiw.

SJP! St James park?

 

[DaveH]

I spent some time at lunch time today thinking through how I might cut perfect hexagons out of a newel post and looking into how I might use yellow epoxy to make a honeycomb coffee table. Then had to go back to working where I have been juggling around trying to plan leave around other people this summer just to get a long weekend to visit my family.

Always constant reminders that I need more free time and more freedom, without work getting in the way.

 

[Swindon On Tour]

I spent some time at lunch time today thinking through how I might cut perfect hexagons out of a newel post and looking into how I might use yellow epoxy to make a honeycomb coffee table. Then had to go back to working where I have been juggling around trying to plan leave around other people this summer just to get a long weekend to visit my family.

Always constant reminders that I need more free time and more freedom, without work getting in the way.

You cannot buy time.
All the things I used to cram in are more enjoyable and less stressful.
I was making fishing bait yesterday afternoon, music on and no time constraints.

 

[a1970man]

Haven't played golf in years, but with retirement looming, I've started taking lessons, playing the odd round and bought new clubs.

Now I can't wait for the day I pack in, I plan on playing every course in the region.
Then I'll convince the missus we should start having weekends away in nice hotels ... that have golf courses

 

[DaveH]

You cannot buy time.
All the things I used to cram in are more enjoyable and less stressful.
I was making fishing bait yesterday afternoon, music on and no time constraints.

That is the main thing I want.

In my garden there is a big, garage sized shed, built by the previous owner. I use it as a workshop, but it was badly built, not on a base, had gaps in the floor where rats got in and was usually damp, causing tools to rust etc. Parts of the floor were actually below ground level outside, causing water to come in on the corners.

I took a few days off to strip it to the bare frame, lift the entire thing and then build a concrete and timber frame base to lower it on to. Hard work, but I was out in the open air, did a pretty good job of it. I did start early, finish late but it was all my own timetable. Like you, music on and although I was knackered each night, I enjoyed it.

But by the time my leave was up, I only had the bare frame, floor and ceiling. Nothing on the walls, making it more of a wooden gazebo. All the rest of it has been snatching time here and there before and after work. I'm looking at the clock now and thinking I can be free in 20 minutes and hopefully get quite a bit of the electrics done before tea, get myself some power in there. I would have loved to have a few days rest and then crack back on with it as my May/June project, then do something else on my own whim.

 

[Rammstein]

SJP! St James park?

If you mean Sid James Park, no. Made me {{{{ shudder }}}}

 

[buster]

Met with an SJP adviser, whose first comments were " You may have read or heard about some practices we used to use.... " Not a great start. That, and they would have charged just under £12k for the initial set up ( for an inheritance my wife had received ) just gave us negative vibes.

I noticed they'd 'improved' their charges, but their previous behaviour put us off, and it wasn't as if they changed willingly.

They may well be wonderful now, but the element of doubt helped our decision to say a polite "No, thank you" .

Again, just our opinion fwiw.

I knew two SJP IFA’s , both turned out to be less than honest and one ended up doing time for fraud.

Don’t know what fees they’re charging now but they had exit fees of about 5 % years ago .

Not with a barge pole.

 

[Swindon On Tour]

That is the main thing I want.

In my garden there is a big, garage sized shed, built by the previous owner. I use it as a workshop, but it was badly built, not on a base, had gaps in the floor where rats got in and was usually damp, causing tools to rust etc. Parts of the floor were actually below ground level outside, causing water to come in on the corners.

I took a few days off to strip it to the bare frame, lift the entire thing and then build a concrete and timber frame base to lower it on to. Hard work, but I was out in the open air, did a pretty good job of it. I did start early, finish late but it was all my own timetable. Like you, music on and although I was knackered each night, I enjoyed it.

But by the time my leave was up, I only had the bare frame, floor and ceiling. Nothing on the walls, making it more of a wooden gazebo. All the rest of it has been snatching time here and there before and after work. I'm looking at the clock now and thinking I can be free in 20 minutes and hopefully get quite a bit of the electrics done before tea, get myself some power in there. I would have loved to have a few days rest and then crack back on with it as my May/June project, then do something else on my own whim.

Sounds like you have plenty to look forward to.
You could make so much in that workshop.

 

[42]

Would you be though ? What level of growth have SJP achieved versus these low cost funds? Quick ai search suggest that SJP 100% equities has delivered 22% growth in last 12 months and 40% over the past 3 years. How does that compare? I genuinely dont know the answer btw but intrigued to know.
I do know that SJP changed all their pricing a few years ago and they dont charge more than you were paying if you transfer from one provider to SJP. They are actively trying to get away from this 'expensive' tag.

Im about 88% equities with vanguard & my returns are 25% in 12 months & 56% in 36 months. So i pretty much think that answers the question.

 

[The]

If you’re into tech stocks, or global equities. Do yourself a favour and avoid looking at the stock trackers or your pension / sipp / s&s isa etc, get a crate in and touch grass.