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Can I cash in a second pension?
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Even in illness, it is rarely a good idea to do what you did. Every other form of capital raising should have been looked at first. Even loans or remortgaging or equity release as they would have been better.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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Atush... Be careful please with your replies.. Mine is a health issue, otherwise I would not have taken the route I have. Don't assume that everyone is at the same point in their lives. My question was not whether I was crazy or not in cashing in a large pot...my question was simply if I can cash in a second pot..that's all. ... Please in future think before you respond...But thanks for responding anyway!... Better that, than nothing I guess...
If your health is REALLY bad, you can get the pension tax free. Did you look into this? Did you look into alternatives? Such as equity release, downsizing?
And you cant expect us to read your mind. Our replies arent JUST for you, but others who might also want to get their hand son their 225K pensions. For whatever reason.
And given you didnt way you had any health problems, we didnt know And we still dont know you made the right decision.0
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