I read a book called “How to win friends and influence people”, but this was written by his brother, Dale Carnegie.
One of the key things stressed in the book was to remember and use people’s names as they are very important to them.
Pensions
- Thread starter The Breen Machine
- Start date
One of the key things stressed in the book was to remember and use people’s names as they are very important to them.
Exile in Ayr
Central Defender
I stand corrected,it was Dale Carnegie. Read it when the mortgage rates were sky high and I was trying to overpay . Round about 8,% variable,that didn't half wake me up .I read a book called “How to win friends and influence people”, but this was written by his brother, Dale Carnegie.
One of the key things stressed in the book was to remember and use people’s names as they are very important to them.
Kent_Mackem
Striker
Good post.Other side of that is they seem to be pushing pretty hard for people to do their own pensions because they know they can’t support the people who believe the state will just sort them out at old age. Apparently there’s a few too many
I’d have said the likes of pensions & taxes are the stuff kids should be learning at school because there’s far too many people out there who don’t realise the importance of it. The majority of us stumble into the world of employment just doing what we’re told by an employer. A lot of employers won’t give the right education, but it’s also argued it’s not their place.
Posh/ODvM
Central Defender
That's a tricky one as I started out with Virgin Money in 93, then started a separate HL SIPP and then merged the two about 3 years ago. My account stats show that I am up about 18% on the last 3 years, with some funds up more than 40%, some single digits and one or two actually making losses. The values will swing up and down quite wildly at times but over the long term you can expect an average of about 5% per year growth at least. By long term you really need to be committing to leaving the investments in place for a minimum of 10 years and preferably much longer.
As stated by other people, anyone not contributing to a pension is effectively giving up free money as the government will top your contributions as will your employer. A few extra pounds in your pocket today will mean you have given up far more in the long run.
This isn’t a SIPP, & only a very small pot, but my little portfolio of funds is showing about 5% growth over the past couple of years too
Joe Public
Striker
Got a private pension that my employer pays in to. Financial advisor manages it and I track it on an app, the contributions are dwarfed by how much the value of the investments go up. I pay about 300 a month total employee/employer counts and it’s been going up about a grand a month. Best decision I ever made.
Contact Grahame at Complete Money Care.
Contact Grahame at Complete Money Care.
squashjoe
Striker
Wonder if this will get hit in either manifesto anytime soon.
heroesof73
Striker
probably not when the move is away from reliance on state pension to invest in Your own
Seaham Towny
Striker
Currently paying in the maximum my employer will match. Also contributing to the company share save scheme. Plan to contribute more once I'm out of short term debt which should be in 18 months all being well.
Anyone got any advice on maybe a book to read on planning for retirement?
Anyone got any advice on maybe a book to read on planning for retirement?
Fletch
Striker
would be a massive vote loser if did
You still with the bank? (I think it was you?)
A book is hard, because it comes down to your individual (or family) needs. There’s plenty of calculators online that will do calculations of estimates of what you’ll have at retirement, but it all depends on inputs & investment performance over 25/30/40 years. Probably worth reading up on the difference between income options, drawdown vs annuity, you can look that up online too.
Pop
Striker
Are you paying the same % as your employer?
If you're reasonably young get on your pension providers platform and have a look at what your funds are invested in, you might want to move them into higher risk investment schemes.
Seaham Towny
Striker
I am still with the bank. I'll see what I can find online.
I think I am but I will double check
Just turned 29. I'll follow that, can understand that higher risk often means greater reward but is that not like gambling with your retirement?
Pop
Striker
If you’re only 29 then you don’t need to worry about dips in the market.
Most schemes move you to lifestyle funds when you get near retirement to protect you from market fluctuations.
Copacabana
Midfield
Botchie
Striker
It's ok saying pay into an employer pension as they chuck in a contribution. Like any type of saving you should make sure you can afford the amount you're putting in. I'm on gaurenteed final salary pension, however I had to opt out when the scheme was first introduced as they wanted to deduct £186 a month from my pay. We were starting a family and the money was needed in my pocket. I only opted in recently and I'm 42.
I’ll pm you later tonight mate.
Seaham Towny
Striker
By all means mate
This ^^ I did the same, except I took out an annuity when annuity rates were high in 2008. Hargreaves Lansdown sorted my pot , and got me the best market return. I'd be knackered if I had to rely on state benefits. Raising the minimum wage fucks pensioners, as everything has to go up in price to cover it, but pensions don't go up by the same amount. It just brings extra tax revenue in for the government, its a con. Fuck any party that wants to increase the minimum wage.Best thing I ever did was to start a private pension.
I started it off in my late 20's - and always topped it up to the max I was allowed to each year.
And when allowed to - paid-in lump sums too.
I took early retirement and I am on "draw-down" now - and reaping what I have sown.
42
Striker
The triple lock guarentees the state pension goes up by a decent amount though
