Small pension pot verses buy to let
I have a small pension pot of just under 60K. This is an amalgamation of a few smaller pots which were put together 2 years ago.
From my latest pension statement it shows that the annualised performance for the past year is minus 2.3% and minus 1.7% the previous year. So in cash terms that is a loss of £3222 over the 2 years and does not include the payment of over £900 to the financial advisor over the 2 years (0.75% of my plan value) and £323 per year to the pension provider in plan charges(0.5% of the value of the pension)
My question is am I better off cashing the whole of my pension in and putting it towards a small buy property ( I have already taken out my 25% tax free amount). I am self-employed and an estimate of my income for this financial year will be in the region of 18.5k so modest, this is taking into consideration the impact of CORONA virus on my little business. Last financial year my income was £23,100.
Any advice would be greatly welcomed.