pension information

Ask your husband how he feels about living on around £7000 a year state pension.

Find out why he is anti pensions. There is no logical reason why anyone would be as they are just another tax wrapper like ISAs. So, if you are anti pension then you need to really be anti ISAs, anti investments and anti savings. A lot of people have misconceptions about pensions. Often due to media reporting which tends to focus on minority issues which do not impact on the majority of people.

I was wondering if anyone can let me know where I can find out general pension planning information that is written for 'normal' :rolleyes: people!

I dont know what online resources will be of much use. You can make it simple but that usually means compromising. Often the simple pension contracts tend to be the ones that most people are unhappy about as they are not really tailored to their needs.

Its really one of those areas where you really need to put the effort in to research or dont bother and get an IFA to do it for you. If you do it half hearted and on little information you will almost certainly end up with the wrong thing.

mambury wrote: »

Hi, My husband and I are looking into retirement planning (he is 35, FT emp and I am 32 SAHM), a bit late I know but there you go.

He is very anti pensions for whatever reasons.

I was wondering if anyone can let me know where I can find out general pension planning information that is written for 'normal' :rolleyes: people!

THanks in advance

First of all you are not too late to start pensions - with 30 years to go until retirement that is plenty of time to build up a decent fund.

In truth, the only pensions worthy of the name these days are the final salary ones paid in the public sector. All others are just based on stockmarket gambling and the whims of companies, who keep changing the rules to suit themselves. Having said that, it is always a good idea to start a pension, even if only a modest one, especially if the employer contributes as well. Even another £3-4k a year in addition to the state pension makes a significant difference.

From cash savings, through NSI Index linked Bonds, S&S ISA's to SIPPS and gold, you have much safer alternatives.
Private pension plans are not the only show in town.

Hold on a minute.

You class gold as a safer alternative? What planet do you live on that gold is safe?

Also, why is a SIPP (which is typically the most expensive option) or a S&S ISA a safer option when they are just tax wrappers that has no investment risk attached to them?

Someone may not like cherryade but that doesnt stop them drinking other drinks from the same glass. Or stop them drinking at all.

You say "bomb-proof."

So if I'd bought in 1980 at $700 an ounce, and reviewed it in, say 2000 when it was at $250 an ounce, I'd be patting myself on the back for my "bomb-proof investing?"

It's just another - risky - investment.

DiggerUK wrote: »

TMFTP wrote: »

So if I'd bought in 1980 at $700 an ounce, and reviewed it in, say 2000 when it was at $250 an ounce, I'd be patting myself on the back for my "bomb-proof investing?"

No, you would not be a happy bunny if that is what you did.
I had bought a small number of sovereigns in the late 70's. Bought a few more around '82, and the odd one or two here and there after that. Learned a long time ago that gold is not a way to get rich quick.

Only since 2005 have we put anything serious into gold. Our sovs from the 80's bought at around 50 pound on average can now be sold for 140 plus.
Putting gold by as part of a retirement savings pot is no risk. The risk is treating gold as a speculative asset to get rich quick.

This is only true if you are willing to ride the troughs and sell only during peak value times.