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Changing digs and coming out of my cave... for a wee while atleast :)

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  • elantan
    elantan Posts: 21,022 Forumite
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    I think it's probably cause I'm planning on using both my pension and my SIPP to fund our retirement so I talk about them together .. Although now I'm thinking about my ISA a bit more :)
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    elantan wrote: »
    I think it's probably cause I'm planning on using both my pension and my SIPP to fund our retirement so I talk about them together .. Although now I'm thinking about my ISA a bit more :)
    Don't do that - bung it all in your pension to get the tax relief then you can take 25% tax free and the first 10k+ every year tax free :T.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Ahhh but ... Stick with me here :)

    I will get £7.5k from my state pension, leaving me ( currently ) £3k of tax free allowance, now I will never have a big pension I only earn £10.5k a year, so the tax relief I get on my payments will be taxed as they come out after I get past the £3k a year stage (£7.5k state pension plus the £3k private pension)

    So I reckon for me I'm best putting anything over my £3k pension ( private) into an ISA where I can draw our as much as I need when I need it and it ( so far) won't be affected by any changes, we know the pension goals will move again, they move every few years and we all have to work out what's best for us again

    An ISA however doesn't seem to get touched except to up the limit

    So ... My thoughts are ( currently) max out the tax allowance then ISA the rest to ensure I don't pay tax ... Or as little as possible :)

    Now if I was in the 40% tax bracket ... Well then it would be a whole different story ... Pensions all the way
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Depends on whether you intend working till retirement age or not ;).
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    This is very true, and I don't tbh ...but ... And it is a but ..., there is something afoot with that part of the master plan also ... Maybe a pm convo ? In fact that I know you are very into a few retirement threads I read so it would be handy to talk to you about it if that was ok ?


    Don't really want to say anymore than that for reasons will be become clearer In the future :)
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    elantan wrote: »
    This is very true, and I don't tbh ...but ... And it is a but ..., there is something afoot with that part of the master plan also ... Maybe a pm convo ? In fact that I know you are very into a few retirement threads I read so it would be handy to talk to you about it if that was ok ?


    Don't really want to say anymore than that for reasons will be become clearer In the future :)

    Very intruiging - feel free :)
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    have pm'd ya :)
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    elantan wrote: »
    have pm'd ya :)

    :eek::eek::eek::eek::eek: yes, so I see :eek::eek::eek::eek::eek:

    (I may be gone some time folks :rotfl:)
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Well you did ask lol

    Poor Tilly did the same ... My sympathies to both ladies :)

    But I like to have a plan ... One that covers most eventualities ... Except the lottery win ... Forgot that one lol
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    elantan wrote: »

    But I like to have a plan ... One that covers most eventualities ... Except the lottery win ... Forgot that one lol
    Glad to be of help :rotfl:.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
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