250k To invest

PaulD23

Guys,
What I'll do is to post again in 6 months to update progress.
To date I've been in the scheme for almost 12 months and received my payments each and every month, which has made my retirement a lot better than it would have been.
I don't know the ruling of this forum about e mails and phone numbers but I'm sure someone will enlighten me, and if allowed will act accordingly.

Apodemus

PaulD23 wrote: »

...which has made my retirement a lot better than it would have been...

Sorry, but you can't be a high net worth individual, a sophisticated investor and expect us to believe that you would have been facing a meagre retirement without this income!

PaulD23

To answer Apodemus.

I took my pension pot of £250,000 so this qualified me.
If I had bought an annuity my annual income would have been around £12,000.

Apodemus

PaulD23 wrote: »

To answer Apodemus.

I took my pension pot of £250,000 so this qualified me.
If I had bought an annuity my annual income would have been around £12,000.

Thanks for your response. I wouldn't have classed someone totally dependant on the retirement income produced by a £250k pension pot, as being a high net worth individual, so I would tend to stand by my original point! I hope the scheme you are in works out for you.

dunstonh

If I had bought an annuity my annual income would have been around £12,000.

And under drawdown or phased-flexi-access drawdown?

I wouldn't have classed someone totally dependant on the retirement income produced by a £250k pension pot, as being a high net worth individual,

It would be unlikely to satisfy the FOS either.

grey_gym_sock

PaulD23 wrote: »

I took my pension pot of £250,000 so this qualified me.

do you mean that you withdrew the whole pension pot in 1 go? because that would involve paying a huge amount of unnecessarily high tax (some at 40%, some at 45%, and losing your personal allowance for the year). and so would be a really bad move.

investing your pension pot, instead of buying an annuity, is sensible for many people. but this can be done via drawdown, i.e. withdrawing the money from the pension more gradually, with less tax payable. almost all conventional investment options are available while the money is still inside the pension.

Jorgeandcaz

My wife and I often dream that if we had between 200,000 and 300,000 we would look to buy a few acres and open a campsite! its generally seasonal work and the returns ( if the campsite is well thought out) can be extremely high. its food for thought.

PaulD23

My expert adviser utilised a variety of HRMC approved methods and vehicles so that I ended up with the money.
It's too complicated to explain in a few words, but it certainly worked .

grey_gym_sock

PaulD23 wrote: »

My expert adviser utilised a variety of HRMC approved methods and vehicles so that I ended up with the money.
It's too complicated to explain in a few words, but it certainly worked .

how much tax did you pay?

ColdIron

PaulD23 wrote: »

It's too complicated to explain in a few words, but it certainly worked .

Go on, admit it, you're a shill and are now just making it up as you go along