Savings advice needed

System

Thanks badger09 - that certainly makes it clearer.

marathonic

If you're 55 and a higher rate tax payer, why not use some of the £30k for living expenses and contribute the maximum possible to your companies pension plan (assuming they have one).

This is assuming you aren't already contributing the maximum and don't have a huge pot in place already.

System

I am a teacher and fortunately within 10 years of the 'nominal retirement age' consession applicable to those nearing retirement so the worst of the government attack on public sector pensions won't affect me and I will still get a final salary pension. All in all my pension should be ok.

I have contacted my mortgage provider and can overpay on my mortgage - they suggested I make overpayments at £1000 a time rather than smaller amounts monthly because the larger payment will trigger an interest rate recalculation (happens yearly on my account).

simonm_3

Hi, no mention of investing in shares, actually thankfully as I'm afraid I despair. As a beginner in shares I thought it better to go with so called professional advice, choosing Hoodless Brennan which came well recommended. Of the last 10 transactions, most likely more going back, its too depressing to do further research, based on their professional advice, every single time I have sold shares, they then go up by at least 5% the next day, these shares are sold in order to buy a supposed better bet which consistently have gone down by between 5 and 10%. On three occasions, I chose the shares, or decided not to follow their advice, in the former case the shares went up after buying, in the latter, I would have immediately lost 20% of my investment. They propose to have a formula. Looking at this, it seems to be simply, if the shares are going up, then buy. I can do that.

Yes I know shares go up and down, but not so consistently that were I to have done consistently the opposite to the professional advice I would have been in serious profit!
Now is not the time to buy shares!

in_the_woods

My elderly father now deceased lost over 100k to this company of crooks Hoodless Brennan. He was advised to invest in AIMN stocks and shares in 2005 -2006 and lost money on every one. I found a letter of complaint to them and their dismissive reply after he died of a stroke thro worry. Keep well away from HOODLESS BRENNAN!