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Pension or Bricks and Mortar ?
Comments
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My IFA makes a charge which I am aware of for their services. But do I have to pay ongoing commission to arrange a pension?
There is no commission any more. That is why the IFA makes a charge.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 -
Do you have to use an IFA to arrange a Pension?
Is there an Independent Body I could ask questions to?0 -
Payments into a pension are tax deductable for a LTD, so there's already a clear advantage.
Property can be good, but really only a secondary option after paying into a pension. Property has its own drawbacks and should be considered higher risk than a paying into a pension.
I would actually say that the reverse is true (especially now that the lifetime allowance is going to be £1.25m), but I accept that it can be subjective and also a person's age is a factor.
Apart from a very small pension I started when I was 18, I didn't really bother with pensions until I was 52 (4 years ago). But now I am paying in the max allowed, it was very unfortunate that the gov introduced max annual pension allowances just when I wanted to invest in my pension. I did invest heavily in property in the early 90's and continued to do so until I was financially independent. I wouldn't say that I got it completely right though, I wish that I had also realized what great value pensions were earlier, it wouldn't have stopped me investing in property but I definitely would have invested in pensions sooner. My goal is to get £1m in my pension, but it isn't really achievable and I am expecting to run out of time due to retirement before reaching my target, unless the ftse provides extraordinary returns.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Do you have to use an IFA to arrange a Pension?
No.Is there an Independent Body I could ask questions to?
That would be an IFA or a restricted adviser with no restrictions on pensions.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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