Please help i need pension advice.

marvin

dunstonh wrote: »

lots of unasked for advice.

Thanks for the advice which I don't need and did not ask for I am perfectly happy with the investment decisions I have taken for my self and please stop ignoring this bit which I am going to shout as you seem to be missing it so apologies for this.

PENSIONS ARE ONLY FOR MONEY YOU CAN LOCK AWAY UNTIL YOU RETIRE I DON'T HAVE MONEY FOR THAT!

OP take what this lot of commission junkies say with a pinch of salt and get real independent advice on your individual situation in private.

dunstonh

Thanks for the advice which I don't need and did not ask for

Its your money and your loss. Hopefully the OP wont make the same mistake if they have free money available to them.

Perhaps you realise its a mistake and that's why you have turned so aggressive with your comments.

marvin

dunstonh wrote: »

Its your money and your loss. Hopefully the OP wont make the same mistake if they have free money available to them.

Perhaps you realise its a mistake and that's why you have turned so aggressive with your comments.

I have not made any mistakes and I am gettingt very angry with people who are ignoring my situation in totality and offering very poor advice based on a limited spectrum that is not wanted or asked for. I hope the OP takes proper advice and not the "pension is best for everyone" you get here.

Your advice in my situation is not right and I would have had led to financial hardship right now if I took it at the time.

2 questions for you to answer

1. How would I pay for rent of £400 (+any increases over the next 20 years) with a pension of £150 including growth (which is now in negative growth) over same time period?

Note I TOOK A DECISION THAT BUYING THE HOUSE AND GETTING IT PAID OFF BY THE TIME I WAS 65 WAS A BETTER USE OF MY MONEY.

Still a the right decision for me

2. How are the shares I am paying for paid for? You seem to have missed that bit out.

The shares are being paid for in the reduction in interest rates which is a temporary thing therefore putting it into a pension would be poor advice becasuse what do I do when the interest rates rise and I may not have that money each month. The best thing for that money in pure investment terms would have been to have overpaid the mortgage but that was not an option on my mortgage.

I cannot afford right now to push money into a savings vehicle which may or may not pay an amount when I am old which I may not get to be anyway. (you also know nothing about my health situation nor of the OP so how can you offer decent advice? You also know nothing about the OP's or my employment situation so how can you offer advice?)

OP look at your total situation not just now but what may happen for the next 25 years and get real advice.

To the commission junkies on here learn to give advice only when it is asked for and stop annoying those who don't want your advice.

bendix

You seem like a nice chap marvin. No, really, a real delight. It's probably just as well you didnt work for twenty years. You wouldn't have made that many friends with that attitude.

But here's a tip. If you don't want people to comment on your investment decisions, how about not posting them on a public forum.

Just a thought.

dunstonh

1. How would I pay for rent of £400 (+any increases over the next 20 years) with a pension of £150 including growth (which is now in negative growth) over same time period?

How are you paying into a medium-long term sharesave investing in shares that go down as well as up?

Note I TOOK A DECISION THAT BUYING THE HOUSE AND GETTING IT PAID OFF BY THE TIME I WAS 65 WAS A BETTER USE OF MY MONEY.

Great. And you can sell it when you are 65 or do borrow against it again to give you an income.

2. How are the shares I am paying for paid for? You seem to have missed that bit out.

It doesnt matter. You are still paying into an equity based medium to long term plan.

what do I do when the interest rates rise and I may not have that money each month.

No doubt the same as you would with the pension.

I cannot afford right now to push money into a savings vehicle which may or may not pay an amount when I am old which I may not get to be anyway.

So, why are you pushing money into a savings vehicle that may not pay out but if it does will pay out a lot less than the pension?

(you also know nothing about my health situation nor of the OP so how can you offer decent advice?

If you are in poor health or even terminal, then the pension is even better advice.

To the commission junkies on here learn to give advice only when it is asked for and stop annoying those who don't want your advice.

How much commission have I or the others earned from contributing on this thread? How do we go about collecting that please as I am sure all the posters would be interested in how they get paid for posting?

marvin

dunstonh wrote: »

More drivel
QUOTE]


You can't win an argument with an idiot and you sir are an idiot first class.

All of your points are drivel and you have proved you have not understood 1 iota what I was saying.

I'm off bye bye

BTW you turn putting things on this site to business 1 punter who takes up your dodgy advise privately is enough for it to be worth your while if not then why are you not off giving your pearls of wisdom elsehwere?

savingforoz

marvin wrote: »

dunstonh wrote: »

More drivel
QUOTE]


You can't win an argument with an idiot and you sir are an idiot first class.
QUOTE]

Pot, kettle, black - and a rude pot as well.

You can only try your best, dunstonh!

Shimrod

Horses and water spring to mind having read Marvin's responses to posts on this thread.

Never mind Dunstonh, if he had taken a pension out no doubt he would only have been back in a couple of years time wanting to know how to get at it early - after all it is his money!

bendix

For someone who's been on benefits for the last twenty years, marvin sure has a high opinion of himself.

jamesd

simonski70 wrote: »

I have just turned 40 and i really need to start up a pension plan but you hear so many bad things about them i dont where to start.I live in a council house and we wouldnt be able to get a mortgage. My wife and i both work so we can afford to put some money away for the future but dont know where.

Is the reason that you wouldn't be able to get a mortgage something that you can change over time? Is it just for the value of this property due to the amount you could get? The reason this is a concern is that home owners in general are better off in retirement, so it's a useful part of retirement planning if there's a way to manage it.

If you haven't done it yet, you should get a State Pension Forecast for each of you. that will tell you how much you have currently built up in the state pensions (Basic and Additional) and give you a starting point for working out whether those alone will provide you with a sufficient income.

Do your jobs offer any pension options? Workplace pensions usually offer some form of matching contributions from the employer so the first thing to do with pensions is find out about any work scheme. If you can tell us the details of any work schemes we can say how good a deal those seem to be.