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Income drawdown option...
Comments
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Yes. I am sure you are right. I was just wondering if I might be OVERestimating the risks and didn'w want to dismiss drawdown out of hand because of it.0
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rafikiphoto wrote: »Yes. I am sure you are right. I was just wondering if I might be OVERestimating the risks and didn'w want to dismiss drawdown out of hand because of it.
How much of your income will this pension be providing as a percentage of your overall income?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
rafikiphoto wrote: »I have. I've used the H-L online annuity quotes facility and also received a drawdown illustration. The potential returns from drawdown seem attractive.
How was the drawdown fund invested and what were the annual charges?Trying to keep it simple...
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I think it's a good time because markets are down and that suggests that there is potential for gain. You should do something like keeping a year or so of income in cash to smooth out variations in income payments.rafikiphoto wrote: »Does the team think that now is a disastrous time to embark upon an income drawdown pension?
Do remember that it isn't an all or nothing decision. You're perfectly free to put a bit of the capital into an annuity initially or each year to provide some guaranteed income. Each year has the advantage that annuity payments go up as you get older.0 -
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