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best tax efficient savings for ill health retirement lump sum please.
bearsthatshare
Posts: 12 Forumite
best tax efficient savings for ill health retirement lump sum please.
In may I will recieve a lump sum and small annual pension.I will not be able to return to work so this money has to really work for me.Im in need of help.Never had any money to invest before and dont know where to start.
thanks to all out there who may be able to help.:A
In may I will recieve a lump sum and small annual pension.I will not be able to return to work so this money has to really work for me.Im in need of help.Never had any money to invest before and dont know where to start.
thanks to all out there who may be able to help.:A
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Comments
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Will you be drawing from it on a regular basis to supplement income?
This is quite important as it affects the risk of the savings/investment.
Tax efficiency at this stage is something we couldnt comment on. The UK has around 13 different tax wrappers for investments. Which is best depends on circumstances. Tell us what you want from the savings or investment and we will help you narrow down the options.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 -
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hi dunstonh,dunstonh wrote:Will you be drawing from it on a regular basis to supplement income?
This is quite important as it affects the risk of the savings/investment.
Tax efficiency at this stage is something we couldnt comment on. The UK has around 13 different tax wrappers for investments. Which is best depends on circumstances. Tell us what you want from the savings or investment and we will help you narrow down the options.
thanks for your reply, lm hoping not to draw on the lump sum, but only looking to enter into low/no risk investments.0
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