Stocks n Shares ISA

Select coaches said:
Just read an article where someone’s pension has dropped a third in the last 2 years because of lifestyling
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As I said earlier, it's down to the freak event of interest rates going from zero to 5.25% in the space of a short period of time. That's unlikely to happen again, and if you're putting money into bonds now you're going to get a decent rate, and value will go up again if rates do drop down to the expected 3%
 


SpiritofBurnden said:
Cheers! Looks like you've had some healthy returns on your investment over the years.

I've now managed to get the website to work on my iPhone now.

It's very impressive. Really clear explanations of the investments, potential returns and the risks associated with them.
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No problem! If you have any questions about running the accounts then please send a message, though obviously I can’t offer financial advice.
42 said:
It just goes back to your appetite for risk. I've got a decent public sector DB pension, so my investment fund is purely to fund a lifestyle between 58 & 68 until state pension & misses works pension kicks in, so from that point I think I do need a bit of lifestyling in there given its just for about 10 years rather than the 20+ year most have with their pension.
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That’s similar to my own situation, I'd like to retire at 60 with a reduced DB pension. For those 7 years until the state pension, I would like £x per year to supplement any spending. I don’t care if it’s from a cash reserve, fixed rate savings accounts, selling shares etc. But I shall probably want 3 years worth of a cash buffer.
 
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42 said:
It just goes back to your appetite for risk. I've got a decent public sector DB pension, so my investment fund is purely to fund a lifestyle between 58 & 68 until state pension & misses works pension kicks in, so from that point I think I do need a bit of lifestyling in there given its just for about 10 years rather than the 20+ year most have with their pension.
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This is what I need to do. 50 now and need to save as much as possible to cover 60 to pension age but no idea of the best way.
In civil service pension and there are 3 options to boost retirement and two can specifically help you retire early I think but I don't fully understand them. It's a bloody minefield and even if you get an advisor you don't really know if they any good. We living on one of our wages from now but no idea what to do with the other one.
 
Just left a job and looking to transfer my pension into a more managed account. Got about £300k to transfer. Im considering Lyons Financial Management who I was recommended by a mate. They use St James. Apparently I can’t be charged more than my current pension provider charges. They’ll match that charge. Only fee is an early exit fee if I take it out within five years. Looking at performance of the fund last year it did 7.5% nett compared to industry average of 3.5% (ish I think they said).


Not really sure where to even start with stuff like this …. Only advice I’ve had is the advice to get advice …. But I’m now seeking advice on the advice I’ve been advised to get 🤣
 
safccfas said:
Just left a job and looking to transfer my pension into a more managed account. Got about £300k to transfer. Im considering Lyons Financial Management who I was recommended by a mate. They use St James. Apparently I can’t be charged more than my current pension provider charges. They’ll match that charge. Only fee is an early exit fee if I take it out within five years. Looking at performance of the fund last year it did 7.5% nett compared to industry average of 3.5% (ish I think they said).


Not really sure where to even start with stuff like this …. Only advice I’ve had is the advice to get advice …. But I’m now seeking advice on the advice I’ve been advised to get 🤣
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Avoid anything St James, they are the next financial scandal in waiting. Their fee structures are "opaque" at best, they are not whole of market, only invest in their own products and are generally poor performing.

I play golf with a St James franchisee. He asked if he could help with my investments. After a few visits he said he wasn't sure he could help. Fundamentally he didn't like the questions I was asking about his fees. They are incentivised to sell products, not to get you the best performance. Salemanship is valued more than finacial acumen.
 
Slatz63 said:
Avoid anything St James, they are the next financial scandal in waiting. Their fee structures are "opaque" at best, they are not whole of market, only invest in their own products and are generally poor performing.

I play golf with a St James franchisee. He asked if he could help with my investments. After a few visits he said he wasn't sure he could help. Fundamentally he didn't like the questions I was asking about his fees. They are incentivised to sell products, not to get you the best performance. Salemanship is valued more than finacial acumen.
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Don't some of them operating like that end up quite heavily indebted to SJP themselves?
 
I have a DB final salary type pension be taken at pension age. (Don't want to take earlier as hefty penalties) hoping my smaller SIPP pots see me thru from 60 to state pension and main pension. Dont really want to work at 60 but may need a little side earner or drop hours to see me thru.
 

Great video as usual by Ramin, aka PensionCraft, about combining your s&s ISA and Sipp to get the best out of your investments in a tax-efficient way. Might be of some use.
 
douggie said:
I have a DB final salary type pension be taken at pension age. (Don't want to take earlier as hefty penalties) hoping my smaller SIPP pots see me thru from 60 to state pension and main pension. Dont really want to work at 60 but may need a little side earner or drop hours to see me thru.
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Are these hefty penalties actual penalties or is it the usual actuarial reduction? If its the latter then you're not really gaining anything by leaving it & personally think it's better taking it early.

The way they normally work is that there's a notional pot valued upto average life expectancy. So taking early your pot is just being spread over a longer period & annual pension reduced accordingly. For me there's the added tax benefit, as for 1st 10 years, I'll pay very little tax on it, when state pension comes I'll then pay tax on most of it. And the longer you leave it, you're increasing the chances of getting nowt as you're then closer to death.
 
42 said:
Are these hefty penalties actual penalties or is it the usual actuarial reduction? If its the latter then you're not really gaining anything by leaving it & personally think it's better taking it early.

The way they normally work is that there's a notional pot valued upto average life expectancy. So taking early your pot is just being spread over a longer period & annual pension reduced accordingly. For me there's the added tax benefit, as for 1st 10 years, I'll pay very little tax on it, when state pension comes I'll then pay tax on most of it. And the longer you leave it, you're increasing the chances of getting nowt as you're then closer to death.
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Great advice mate, it's actuarial reduction for taking early.
 
Slatz63 said:
Avoid anything St James, they are the next financial scandal in waiting. Their fee structures are "opaque" at best, they are not whole of market, only invest in their own products and are generally poor performing.

I play golf with a St James franchisee. He asked if he could help with my investments. After a few visits he said he wasn't sure he could help. Fundamentally he didn't like the questions I was asking about his fees. They are incentivised to sell products, not to get you the best performance. Salemanship is valued more than finacial acumen.
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The person I’ve been speaking to has said that SJP won’t charge more than my current pension provider does. I seem to recall they may have even said this is a fairly new approach ?!? They also said no fee to transfer but a tapered early exit fee over five years if you leave ie 5% year one down to 1% in year five.
 
Lawrenceslongthrowin said:
I opened an isa with a credit union thing at work and without really thinking about it opened a fixed rate isa with my bank for the kids savings is that allowed?
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If they're both in your name and both cash ISAs I think that's in breach of the rules. If the kids' ones are in their names then no problem. Not sure what you do about it though, if in breach. Maybe speak to the provider for their advice. You probably get it cancelled and the money back, I'd imagine.
 
The Great Soprendo said:
If they're both in your name and both cash ISAs I think that's in breach of the rules. If the kids' ones are in their names then no problem. Not sure what you do about it though, if in breach. Maybe speak to the provider for their advice. You probably get it cancelled and the money back, I'd imagine.
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12 years hard labour in a Turkish male brothel is the new sentence bandied about by the government.
 
The Great Soprendo said:
If they're both in your name and both cash ISAs I think that's in breach of the rules. If the kids' ones are in their names then no problem. Not sure what you do about it though, if in breach. Maybe speak to the provider for their advice. You probably get it cancelled and the money back, I'd imagine.
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I closed my kids savings accounts elsewhere as the interest wasn’t great and put it all in my bank account which had isa at better interest, so technically it is there money but in my account and I’d totally forgot I already had an isa with work credit union thing 😳
 
Lawrenceslongthrowin said:
I closed my kids savings accounts elsewhere as the interest wasn’t great and put it all in my bank account which had isa at better interest, so technically it is there money but in my account and I’d totally forgot I already had an isa with work credit union thing 😳
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I've nearly done the same myself once but narrowly avoided messing up due to the dates of deposits. Anyway, suggest you speak to them, it won't be the end of the world especially if recent. You might lose any gains, potentially.
 

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