Unless you intend to die penniless

LHW99

bostonerimus wrote: »

I'd run the numbers carefully before buying any sort of annuity in this interest rate environment.

I believe rates on immediate care needs annuities are significantly dependent on medical issues, rather than on factors that are most relevant to the normal retirement ones.

bostonerimus

LHW99 wrote: »

I believe rates on immediate care needs annuities are significantly dependent on medical issues, rather than on factors that are most relevant to the normal retirement ones.

All the more reason to run the numbers.

Novice_investor101

I'm a long way off retirement (37) but I expect to have no descendants or anyone to leave anything to when I shuffle off.
I'm quite lucky for my age to have a DB & SP that will meet my basic income needs from age 68 onwards, so any additional LISA, investment ISA & DC pots will be for retiring early & enjoying life.
The house & remaining pots will be my back up for if I ever needed care & anything left after I die will be going to charity.

[Deleted User]

zagfles wrote: »

Err, yes, like I said "The only property exemption is GO's changes a few years ago which Labour say they'd reverse."

Which is what you're referring to above :rotfl:

I asked "Otherwise tell us all what other property exemption there is in IHT"
And you quote the one I've already mentioned.
I don't think you're capable of a coherent discussion, so won't waste any more time with you.:p

Well, I'm going to miss you zagfles; after politicising the thread, particularly if a strong Labour show next month makes your head explode.:eek:

Terron

badmemory wrote: »

Have you seen how much MPs earn? If you earn less than them it probably means you have assets less than them. Do you really believe that turkeys vote for Christmas?


What does an MP consider to be an average earner. Well it certainly isn't me or indeed the rest of the voters out there. It really is time some people did a reality check rather than watching reality TV.

I read that MPs earn £79kpa, though I haven't checked.
Labour plan to raise taxes on incomes of £80k plus.

Thrugelmir

Terron wrote: »

I read that MPs earn £79kpa, though I haven't checked.
Labour plan to raise taxes on incomes of £80k plus.

Taxation increases are unlikely to be restricted to this proposal alone. Setting a high level sounds good. As 95% of people will think themselves unaffected.

jimi_man

ZingPowZing wrote: »

Preserving your pension in a SIPP and living off your investments seems a pretty tax-efficient way of passing on your inheritance. Yet, this consideration never seems to cross the transom of financial advisers. Why?
Is it that advisers compartmentalise advice so that a pension transfer specialist will not tread on the toes of an IHT specialist?
The biggest sum most people have to deal with is their legacy.

I wrested a DB pension into a SIPP. Since I will never draw on it, it can grow up to its limit in a tax-sheltered environment, which I can hand down.
What's not to like?

I think it depends on your point of view of how you live your retirement and how you fund it. Ours is funded by DB pensions and SPs. Any SIPPS we have, are a savings vehicle more than anything. Therefore I (we) don’t consider retirement as a process of decumulation, but as a continuation of how we’ve managed our expenditure thus far. That is, normal living expenses, luxuries and savings. Therefore the expectation is that the accumulation will continue – certainly up until any care needs are factored in, should they be necessary. We have two children and will leave the everything to them, but without making any conscious effort to forego anything just so that they might receive more.

Another consideration is that if I live till 86 (I’d suggest my wife would probably live longer) then my children will be 56 and 55 at a minimum and therefore probably as financially secure as I am now. With the life expectancy as it is then I think that grandchildren would need the money more.

aphill24

Sorry but what does SO stand for in the post?

ex-pat_scot

aphill24 wrote: »

Sorry but what does SO stand for in the post?

SIGNIFICANT OTHER.
Spouse
Partner.
Etc

ex-pat_scot

aphill24 wrote: »

Sorry but what does SO stand for in the post?

SIGNIFICANT OTHER.
Spouse
Partner.
Etc