Pension pot or Bond for my £40,000 ?

cslogg

Ok,thanks everyone for your opinions.
I will take them all on board and decide what to do.

cslogg

atush

cslogg wrote: »

Ok,thanks everyone for your opinions.
I will take them all on board and decide what to do.

cslogg

If you are interested in Kidmugsy suggestions on using investment trusts, have a look at Invesco perpetual. I am not sure if they have a no cost ISA, but do know they are not currently charging me for my savings plan.

They have a good range of trusts to choose from, and I hold 2 IP High Income, and IP Income and Growth.

Of course, you may wish to wait until you have found work to invest the money in any case.

Good luck and let us know how you get on.

If you get a quote form an IFA at an initial free meeting, get back to us. And good luck finding a new job.

Cygnus_Alpha

atush wrote: »

How very dare you little troll, I am no ones lapdog.

I call them as I see them, and you are well out of order.

The OP is clearly clueless in how to go about things, despite being informed of several ways to go about it. So may need, long term, the efforts of an IFA. I admit to telling those who seem to be out of their depth to look at IFAs, despite me not using one myself (clearly no lapdog!!!)

For each year's isa at least? So may find one that will give them value for money if they don't want to go down the low cost route I suggested as well. I know which one I would choose.

Oh do shut up. You started this thinking you could bully a new poster. I'm not in your little clique of regulars so I'm a troll eh?

You can lash out but it seems you can't take it.

You and your pal were trying to con the OP into seeing an IFA for an investment of £5,000. Disgraceful.

gadgetmind

Cygnus_Alpha wrote: »

You started this thinking you could bully a new poster.

I think everyone else started this thinking they could help the OP, you however seem to have an axe to grind. Perhaps you should consider starting a new thread for this?

You and your pal were trying to con the OP into seeing an IFA for an investment of £5,000. Disgraceful.

No-one was trying to con anyone and the OP has several times the sum you mentioned that needs investing sensibly, and they will also probably have an ongoing need for advice.

I don't now use an IFA myself but I'm not so blinkered that I can't see that it's a good option for many other people.

xylophone

Thus far we know that the OP has cash put aside in ISAs (somewhere between 20 and 25 thousand pounds?), some NS&I savings and £40,000 on top which requires a home.

He is 63 years old but mentions only one pension, that with his current employer which holds only four years worth of contributions. He adds that he will shortly be made redundant.

He does not appear to know a great deal about financial products but has been disappointed in the outcome of previous investments.

Nobody on the forum can give him the advice he apparently needs.

At his age he needs to consider his whole situation, including his state pension, any other entitlement he might have to other pensions taken out during the course of his working life, his need for income between now and the time when he retires and planning for his future needs after retirement.

He does not mention whether he has a wife or any desire to make provision whether in life or death for children/ relatives etc.

In his situation he might be well advised to seek the advice of an Independent Financial Adviser who could look at his personal situation in the round and offer appropriate guidance?
http://www.unbiased.co.uk/

atush

Cygnus_Alpha wrote: »

Oh do shut up. You started this thinking you could bully a new poster. I'm not in your little clique of regulars so I'm a troll eh?

You can lash out but it seems you can't take it.

You and your pal were trying to con the OP into seeing an IFA for an investment of £5,000. Disgraceful.

I am not a bully, but you are a troll with an anti IFA agenda.

I am well known here for my NOT using IFAs, but I know when someone else, who has 40K, not 5, would be possibly better off seeing one.

If you have no pearls of wisdom to impart, but are just here to insult IFAs and other regular members, you can go away now.

You starting a fight here by slinging insults hasn't helped the OP one bit.

But I hope the rest of us have, before you scared them off.

Cygnus_Alpha

atush wrote: »

I am not a bully, but you are a troll with an anti IFA agenda.

I am well known here for my NOT using IFAs, but I know when someone else, who has 40K, not 5, would be possibly better off seeing one.

If you have no pearls of wisdom to impart, but are just here to insult IFAs and other regular members, you can go away now.

You starting a fight here by slinging insults hasn't helped the OP one bit.

But I hope the rest of us have, before you scared them off.

More abusive trolling from you then eh. I have already given my "pearls of wisdom" on this. One of which was to agree with what you said about indexed funds. You would argue with yourself if you had half a chance.

No problem with an IFA telling someone to use an IFA if they had mentioned that that comes with fees/charges. But they didn't.

I have helped the OP actually and that is to stop people like you conning them.

gadgetmind

Cygnus_Alpha wrote: »

I have already given my "pearls of wisdom" on this.

Or, as the Reverend Spooner might have said, your "shafts of wit".

Cygnus_Alpha

gadgetmind wrote: »

I think everyone else started this thinking they could help the OP, you however seem to have an axe to grind. Perhaps you should consider starting a new thread for this?

Well in all fairness, I did initially put out a couple of ideas before the bullies (or the regulars as they call themselves) started their little campaign. But well done for joining them.

I have an axe to grind with IFAs not disclosing that there are charges relating to their services. The same axe that the FSA/FCA and consumer groups have.

gadgetmind

Cygnus_Alpha wrote: »

I have an axe to grind with IFAs not disclosing that there are charges relating to their services.

I'll let you into a secret. Accountants also expect to paid for that they do, and lawyers, hairdressers, gardeners, plumbers, and pretty much everyone else.

I'm prepared to tackle some of the jobs above myself, and save some money in the process, but for others I need to "get a man in". The OP is almost certainly in the category of people who'd be better off paying for advice than trying to DIY.

Where exactly is the problem with suggesting to someone that they seek this advice? OK, so maybe it should have been made clear that professional advice attracts professional fees, but should anyone really be surprised by this? Really?

As for the whole trolls versus regulars, maybe you need to chill your beans and work on making valuable contributions. A useful metric here might be to see how much atush and dunstonh have been thanked by people that they have helped.

It's why we're all here. Not point scoring, not winding each other up and grinding axes (though we may all do this from time to time!), but helping each other.