Pension/Financial planning when already retired

Carolinemjs

Is there advice available for people like me who are already retired and in receipt of state pension only but with a small amount of capital and a home owner?
I came to this situation without any previous plans, just taking each day as it comes, now realising I should have done something many years ago.
I'm 68 and in good health but the future is obviously uncertain and forward planning beyond my knowledge. I've asked questions in these forums and received helpful advice but realistically I can't be a longterm investor, 5-10 years max? And practically I'm defeated by questions about when I intend to access my SIPP and other investments/money? When I need it is my answer:(

I can't afford the fees of a financial advisor, where can I get the information I need to make reasonable decisions myself.
At the moment it feels like being adrift with no lifejacket.

Sea_Shell

If you only have a small amount of capital (define small) and you don't know when you might need it, you may just be best to use savings/current accounts which pay interest.

Are you able to save anything from your SP or is that used up each month. Any other income?

nigelbb

The obvious advice would be to take the free £720 on offer by laundering £2880 through a SIPP every year https://forums.moneysavingexpert.com/discussion/5580163/paying-2880-into-pension-when-retired&highlight=2880

xylophone

The OP already has a SIPP.

https://forums.moneysavingexpert.com/discussion/comment/75950225#Comment_75950225



https://forums.moneysavingexpert.com/discussion/comment/75832882#Comment_75832882

LHW99

If your income and savings are both small, are you receiving all the state help you can?
Have a look at
https://www.entitledto.co.uk/benefits-calculator/Intro/Home?cid=644d7e03-85dd-47fe-942f-2dc2efa491ec

tacpot12

PensionWise may be able to help. See https://www.pensionwise.gov.uk/en