MFW & Retirement Planning on a Single Income

nellis10

edinburgher wrote: »

Surely they don't pay tax relief on pensions in advance as your second sentence suggests? What if you change your mind?

I would ask for advice on the pensions/possibly tax forum, but if there's some reason to avoid using your pension for extra payments this year (I get the feeling there isn't, surely a government mistake can't force you to lose pension benefits?), ISA investments might be an idea?

Have you looked at the 'your number' thread on the Pensions board yet?

Just opened up my very first ever ISA with Charles Stanley Direct today, coincidentally. Just £100/month for now into VLS80.

Can't find the Your Number thread, but will keep looking.

AnotherJoe

nellis10 wrote: »

Just opened up my very first ever ISA with Charles Stanley Direct today, coincidentally. Just £100/month for now into VLS80.

Can't find the Your Number thread, but will keep looking.

If that was a SIPP, it could have £250 in it each month for £120 ... just sayin....

nellis10

AnotherJoe wrote: »

If that was a SIPP, it could have £250 in it each month for £120 ... just sayin....

Ur KILLING ME!!!!!!!!!!!! lol

Can I change it over? Should I change it over? Can I open up a SIPP too?

edinburgher

nellis10 wrote: »

Ur KILLING ME!!!!!!!!!!!! lol

Can I change it over? Should I change it over? Can I open up a SIPP too?

Yes,

I have:

• An old defined benefit pension
• A work pension
• A SIPP
• An ISA

They all do something just a little bit different (but very similar)!

nellis10

edinburgher wrote: »

Yes,

I have:

• An old defined benefit pension
• A work pension
• A SIPP
• An ISA

They all do something just a little bit different (but very similar)!

I'm going to keep as is for now, mainly so that:
1. I learn investing.
2. I can always pull out the cash if I need it, whereas SIPP is stuck.
3. I have 2 pensions already and this will confuse me more.

:o:o:o

edinburgher

Buy a copy of Tim Hale's 'Smarter Investing'

nellis10

edinburgher wrote: »

Buy a copy of Tim Hale's 'Smarter Investing'

*Furiously searches for pdf copy* :rotfl:

nellis10

It's PAYDAY!!!
:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

edinburgher

nellis10 wrote: »

*Furiously searches for pdf copy* :rotfl:

It's about £20 for a copy, imagine it can save most new investors £££££, sometimes it's worth paying for something!

AnotherJoe

edinburgher wrote: »

Buy a copy of Tim Hale's 'Smarter Investing'

Also read this short blog entry https://www.ft.com/content/24b98a82-b55e-11e6-961e-a1acd97f622d