Had a mortgage too long - it's going, going, gone!

Ali-OK · 5 November 2015 at 7:58PM

I keep missing you DFOD, must catch up with your diary. Bet you're posting at the crack of dawn still

It's only since debt freedom (7 months ago) that I've really been in a position to throw more into retirement planning and won't be too long before you're there too.

Weekly food shop done with a spend of £28.50, including some more Christmas things like chocs for the tree and after dinner mints.

Found an office to view that fits criteria on paper.

Notice for planning now attached to lamp post opposite the house. .
Financials:
- bank accounts checked
- freepostcodelottery checked
- Inbox £s up at £11.03
- Qmee still 39p
- Some cashback from £co ready to be paid
- £3 from P!necone in PPal for moving

Finding the winter duvet too hot at the moment, think it'll be coming off again whilst it's this mild.

Staying in tonight with the dogs - one loves noise and investigates, the other gets a little jumpy. Seems to be quite alot of fireworks local to us too.

Not much else to report, mid month lull has started early!

Watty1 · 5 November 2015 at 8:19PM

Am going to start looking the investing route self shortly

feels very grown up

AlexLK · 6 November 2015 at 12:52AM

Staying out of the pension talk but I'm hoping the office works out for you.

Brogden · 6 November 2015 at 8:15AM

Firstly thanks Ali for mentioning the new credit reference thingy, Clearscore. I needed to be told about that and it gave me everything I needed this week to get a very important job done. I'll expand on my thread at the weekend

.

Nice one on the pensions

. It seems your relationship with the IFA you originally contacted wasn't a marriage made in heaven

. I can completely understand that keeping the pot with the Prud and putting new savings elsewhere is a very stress-relieving and sensible approach. We do get attached to what we have when we get a bit older

!! It doesn't often pay in life to keep on chucking everything in the bin and starting again from scratch.

Just one point though......I know you have new pension plans you are looking at but you mentioned SIPP being unlikely. Years ago SIPP was the domain of the 'pensions-entrepreneurs and landed gentry.' It isn't now. I'd say it is a primary pension savings plan for normal people. You may be put off by the choice of a zillion funds, many of which are unsuitable from the point of view of your own appetite for risk. Fund choice is absolutely critical and the assistance of an IFA whom you get on with is crucial. Many will use a 'modelling' approach to put together a small basket of funds which can work for you. SIPP can be very cost effective and I don't think should be feared :rotfl:!!

I'm sourcing an IFA aswell. I'll cover that on the thread shortly too.

Broggers x

Petal88 · 6 November 2015 at 8:50AM

Gosh all this pension talk is making me rather happy that I don't have to worry about it much myself as my company does it for me. Don't think I'd know where to start otherwise!

Ali-OK · 6 November 2015 at 9:57AM

Broggers - glad I posted something useful for a change

I waffle so much as rule

Petal - What I've learnt so far with pensions, is since the prevalence of a compensation culture and more transparent charging and lower fees, fewer pension companies seem to deal direct with the individual and have to go via an IFA who charge in numerous ways.

See Watchdog last night? :eek: Drawing down or taking an income seems difficult and expensive too now!

One thing bugging me at the moment, is after charges, 1.1% is seen as a good return...and even though the 'free bit' of tax relief is added, aside the 25% tax free lump sum, it's taxed on withdrawing anyway....

ISAs are feeling more attractive right now!

shangaijimmy · 6 November 2015 at 2:49PM

Ali - I'm all caught up thanks to a totally empty office and complete lack of motivation for work!! A few observations - firstly i can't help with pensions and its something that i need to 'mature' about for future. Mrs SJ has a cracker through work, i have a small one through work that isn't great but means i get works contributions, then i have a private one that my sister looks after (IFA).

More importantly however is the whole duvet, hot water bottle, electric blanket debate. Due to a back operation a few years ago i made the short decision to switch us from a king size duvet to 2 singles for the recovery phase, as it was difficult to turn over with the weight of the duvet on legs. Its been a revelation!! I can now have my 4.5 tog duvet all year round, the window open and have my feet sticking out the end, whilst Mrs SJ can bask in 15 tog, with added fleece blanket and toastie socks on!

Petal88 · 6 November 2015 at 4:42PM

Ali-OK wrote: »

Petal - What I've learnt so far with pensions, is since the prevalence of a compensation culture and more transparent charging and lower fees, fewer pension companies seem to deal direct with the individual and have to go via an IFA who charge in numerous ways.

Ah see that's news to me! For the time being I have an IFA through work which is pretty convenient so I guess I don't have to worry about finding a new one until the day I leave. Pensions wise I'm spoilt rotten at my current company so I'm actually dreading the day I change jobs and might have to account for pensions savings in my SOA!

Ali-OK · 6 November 2015 at 5:32PM

Sounds like a great set up with work there Petal, think I'd stay there til retirement

SJ - Glad you have had a duvet revelation

. It's so warm here today - heating off, french doors open and whilst stripping beds, taken the winter bit of the duvet off. Watch me freeze in a few days time when the temps drop :rotfl:

And useful having an IFA in the family. My pension might end up being whatever I put under the mattress at this rate :rotfl:

News today is Architect's invoice in and paid- £906.

And the weekend is here. Yay! :j