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What to do with small cash sipp
Comments
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it’s NHS 1995
Check but I don't think that scheme does offer an uplift for taking the money later (other than if you were still contributing) so yes it probably will be best to take at 60.
Have you tried building a little spreadsheet showing how much you intend to draw from the SIPP, DB and SP each tax year? That will give you an idea of what proportion of the SIPP value would not be needed for a while and could be invested in something that is likely to grow at a rate such that the spending power is not erroded. As a general rule of thumb you would want to keep a few years of drawdown in cash such that you don't need to sell when markets are low.
Alex0 -
Thank you all, I’ll explore your suggestions.0
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