Retirement drawdown

earlybirdsunshine

oh dear sorry to hear that the ravishes have reached you already!


Understand about the budget and I am working from one with plenty of headroom for my circumstances

ratechaser

xylophone wrote: »

Is that you living the expat lifestyle while Mrs R languishes in the UK?

Perhaps she'd turn it the other way about....:).

Well maybe I'll throw in a few conjugal visits to sweeten the deal

Seriously though, we're likely to end up with broadly similar pension pots, so it's all about diversification...

Linton

earlybirdsunshine wrote: »

Thanks for all of your advice. Its about where I am in my thinking.


I am keen to steer clear of IFA as I think investment in simple tracker funds over time will probably yield as much fund growth as a professional. I agree about annuities/QE, thats years away returning to a reasonable level. One thought I had is to live off the fund growth + some capital drawdown until I reach State Pension Age, then opt for buying an annuity with some of the fund providing rates are in my favour. The advantage I see in this is that it takes the worry out of fund management as the ravishes of age kick in !

The main job of an IFA would not be to choose funds for you. But rather to come up with an overall financial plan that has a good chance of giving you a sustainable lifetime income sufficient to meet your needs over time. Choosing funds is the last thing that needs to be done after it is clear what the requirements for the portfolio are. Hint - maximum return is not likely to be at or even near the top of the list.


If you can come up with the plan then fine. If not you should reconsider paying an IFA.

NoMore

Ok something doesn't add up here. The OP has two threads going. Here's the other one:


https://forums.moneysavingexpert.com/discussion/5985389/lgps-help


In this current one they are 56 with a DC pot of 550k, in the other one linked above they are aged 50 and been in the LGPS DB pension since the 90's and want to retire as close to 55!


Which one is it ?

earlybirdsunshine

No mystery ! One thread is my circumstances the other my partners. As our situations are different I felt that 2 threads are needed.

MEM62

earlybirdsunshine wrote: »

I am keen to steer clear of IFA as I think investment in simple tracker funds over time will probably yield as much fund growth as a professional.

You think so? Personally, I very much doubt it.

LHW99

No mystery ! One thread is my circumstances the other my partners. As our situations are different I felt that 2 threads are needed.

Unless you really do plan to live separate lives in retirement IMO you should plan as a couple.

NoMore

LHW99 wrote: »

Unless you really do plan to live separate lives in retirement IMO you should plan as a couple.

Exactly making two threads and not making it clear they were for two different people is confusing and you should really plan based on your circumstances as a whole, not individually.

Spreadsheetman

LHW99 wrote: »

Unless you really do plan to live separate lives in retirement IMO you should plan as a couple.

Exactly - my wife's DB pension will take a lot of heat off my exclusively DC pot when she reaches scheme age.

earlybirdsunshine

Thanks all for you advice. Good to hear you opinions.