Coming up to 55 and want a lump sum.

marycanary

geejayem said:

... because I try to enjoy life to the full, my finances have never been a priority. 

Strange, because I try to enjoy life to the full my finances have always been a priority. 

Albermarle

marycanary said:

geejayem said:

... because I try to enjoy life to the full, my finances have never been a priority. 

Strange, because I try to enjoy life to the full my finances have always been a priority. 

Yes , difficult to live to the full when you are skint .

AnotherJoe

KittyMac said:

So,  I have an income of £7000 a year from house rental and this year was going to take my 25% lump sum tax-free from my pension pot which comes to £27500. I have been told that although we are told it is tax-free it will be declared on my self-assessment and then the £7000 that I normal earn tax-free as it is under the allowable tax-free income amount suddenly will incur a tax bill as my entire 'incoming' money for the year will be £34500.  Is this true?

Who told you that? 

Steve182

geejayem said:

My pension pot consists of the following. 
Three pensions with ReAssure to the combined value of around £115000.(thanks to a dodgy 80's financial advisor who persuaded me to open a private pension and drop my company one). Thanks Terry from General Portfolio. 

I was also a client of General Portfolio in the late 80's/early 90's. My General Portfolio FA actually tried to recruit me as an advisor! They used a type of pyramid scheme and I now know their fees were astronomical.

I was tempted by the £30K-£40K OTE salary at a time when you could buy a 3 bedroom house in the SE of England for <£70K.

My FA's boss present at my interview discussed becoming a millionaire in his 30's. I didn't take the job. Maybe I'm poorer for it bit I'm now a company director with acceptable remuneration and a clear conscience.