Is there a good reason to not use a S&S ISA for retirement?

JustAnotherSaver

zagfles wrote: »

You don't have to manage it! You can get the IFA to. Why are you thinking that you need to manage your own pension if you have an IFA to manage your ISA? IFAs do manage pensions, you know! They can also advise you re the workplace pension (and should be doing so).

I don't...? You've lost me totally. Where did i say that i thought an IFA couldn't manage my pension? I'm not trying to be difficult here but i'm wondering if you've read my post?

This thread was made about the comparison of a Lifetime ISA and a pension, primarily a workplace pension since that's the one i currently have.

Now in the other thread (the 32yr old with no provisions) i did ask about why the 'need' for a private pension as well as a workplace pension (since he seems to be in a similar boat to myself, similar age, minus the fact he earns double what i do) but i've literally only just made that post in that thread.

Maybe i've said something in a poor way that's confused you? But i don't know why you think that i think i have to manage my own pension?

zagfles

JustAnotherSaver wrote: »

I don't...? You've lost me totally. Where did i say that i thought an IFA couldn't manage my pension? I'm not trying to be difficult here but i'm wondering if you've read my post?

This thread was made about the comparison of a Lifetime ISA and a pension, primarily a workplace pension since that's the one i currently have.

Now in the other thread (the 32yr old with no provisions) i did ask about why the 'need' for a private pension as well as a workplace pension (since he seems to be in a similar boat to myself, similar age, minus the fact he earns double what i do) but i've literally only just made that post in that thread.

Maybe i've said something in a poor way that's confused you? But i don't know why you think that i think i have to manage my own pension?

Yes you have confused us. Who here has said or implied it's a "criminal offence" not to manage your own pension? Or that you should be managing your own pension? That's what seems to have confused us. You seemed to be saying that's what you'd have to do.

If you want the pros and cons if pensions vs ISAs I think you've had your answer? But you're paying an IFA, they can advise you based on your entire personal financial situation.

JustAnotherSaver

zagfles wrote: »

Yes you have confused us. Who here has said or implied it's a "criminal offence" not to manage your own pension? Or that you should be managing your own pension? That's what seems to have confused us. You seemed to be saying that's what you'd have to do.

Ah then that's where we have crossed wires.

What i was basically saying is that i've been here (MSE) before on the topic of retirement planning. The feedback i get is generally do it yourself, don't see an IFA, don't pay for anyone to manage it because you can do it yourself.

That's not actually something i agree with. The individual telling me that may be able to do it themselves but >I< don't feel like >I< can.

Sure i can hop onto Hargreaves Lansdown now, open up an account & select a few funds the same way my wife might pick a horse at the Grand National - it may have pretty colours or a funny name, well the funds might be [whatever] but i don't actually know anything about them, it'd totally be stabbing in the dark.

And that is why i pay someone to do it for me.



Although i am interested in whether a private pension (managed by an IFA) alongside a workplace pension is better/worse than just going 100% workplace pension.