Annunity: preliminary take on

Blue_Parrot

jem16 has replied to my post to mania112, how confusing.

jem16,

s/he is easier than he//she

yes there is a reason why but I don't have the time or inclination to go into that right now

yes commission is the best basis right now

thanks for replying

atush

casey_junior wrote: »

What are the options for a pension pot of c£50k?

Well, it all would depend on what other savings and pensions you have.

But you can choose to take 25% (12,500) in cash and either buy an annuity with the 37.5K left, or transfer to a drawdown pension. Or you can use the whole pot to give a higher income in either annuity and drawdown and don't take a lump sum at all. Or you can take a lump sum, but smaller than 25% if you want.

mania112

Blue_Parrot wrote: »

jem16 has replied to my post to mania112, how confusing.

why is that confusing?

My point is - you don't know me, jem16 or anyone else on this forum. Therefore, you can't trust anything that's said.

Why not save these questions for the IFA?

Any decent IFA (male or female) would happily answer your queries, however stupid you think they may sound.

You need to be 'prepared' not for the meeting with your IFA, but for the decision that you make as a consequence of that meeting.

atush

I would ask what you are being charged for advice on a pot as small as 50K. Too high, and it will be a big chunk out of any returns.

atush

mania112 wrote: »

why is that confusing?

My point is - you don't know me, jem16 or anyone else on this forum. Therefore, you can't trust anything that's said.

Why not save these questions for the IFA?

Any decent IFA (male or female) would happily answer your queries, however stupid you think they may sound.

You need to be 'prepared' not for the meeting with your IFA, but for the decision that you make as a consequence of that meeting.

Right. So we should shut down the forums then? Who is gonna tell Martin?:)

mania112

atush wrote: »

Right. So we should shut down the forums then? Who is gonna tell Martin?:)

If you knew how much Martin made off these forums, you might want to close them down.

But seriously, maybe it's just me, but if I was booked in to see an IFA I would feel the need to 'prepare' myself by asking strangers on a Forum a question.

I see these forums should be used by people who can't afford professional advice and come here instead for free information.

Peelerfart

Surely the OP is asking questions to improve knowledge of a subject isn't that the point of them?

Some advice good some not so good,up to the individual to sort out which is which. but as for -

"these forums should be used by people who can't afford professional advice "

Don't get that at all!

mania112

Peelerfart wrote: »

"these forums should be used by people who can't afford professional advice "

Don't get that at all!

What's not to get?

Peelerfart

mania112 wrote: »

What's not to get?

So are you saying that the only people who should ask questions on here are the ones who can't afford to ask a pro?

atush

mania112 wrote: »

If you knew how much Martin made off these forums, you might want to close them down.

But seriously, maybe it's just me, but if I was booked in to see an IFA I would feel the need to 'prepare' myself by asking strangers on a Forum a question.

I see these forums should be used by people who can't afford professional advice and come here instead for free information.

Nothing wrong using them to further your knowledge in advance of any meeting. Esp re the fees vs commission debate!

AS far as what Martin earns, I don't much care. He started it- his idea, so it is his. If you don't like him earning, go somewhere else where someone else reaps the advertising revenue? Don't get your point, and object to your idea that we are all ignorant of the fact this website makes money.