A Couple of Questions for the Forum Retiree's ...

sgx2000

These are some great insights into everyones differing views about retirement and retirement planning....

Albermarle

Pat38493 said:

MrDidz said:

1. Yes! I didn't take all my pension in cash and now I have problems with a shrinking pension fund and no way of getting my hands on it without losing a fortune.
2. Take everything out in cash and look after my own money.  That way at least if I lose it I've only got myself to blame.

You would have to give some details to understand, but if you had taken your pension out all in cash, you might have paid a huge tax bill and it would have further shrunk by 10% in the last year due to inflation, which is not that far off what a well invested pension situation would be, but the cash would not start growing again.  I doubt you will find anyone on here who would advise taking your entire pension in cash unless it's a very small pot.

@MrDidz has another thread on the subject of his pension troubles.
Utmost Performance and advice on how to save my Pension Pot. — MoneySavingExpert Forum

sgx2000

@MrDidz has another thread on the subject of his pension troubles.
Utmost Performance and advice on how to save my Pension Pot. — MoneySavingExpert Forum

Thanks for this AlberMarle
Will check it out

sgx2000

@Albermarle
Just read the MrDidz thread

I think many people don't get that there are multiple charges tied to most pension investments
And,  there have been many threads over the last year from people not getting that the losses are from the investments not the providers

This is the reason that this forum is so valuable a resource for people who want to learn....

RogerPensionGuy

I'll comment but, not leaving paid employment till very early 2024.

Lots of really good posts here and thanks for posting. 

I'm 62ish and could of stopped paid employment at 55 if I desired. 

My job employment is pretty good overall and I decided to ask myself ever year, if my work pay/conditions reduced by 33% would I keep on working, luckily my pay and conditions went up to a point, however applying the 33% reduction in my head I now feel I'll stop and that's exactly the plan, if my employer should offer voluntary redundancy my hand is the 1st up, but have decided to leave in the first quarter of 2024.

Like others here, wish I had invested a bit more heavily before I was 40.

Over the last 40 years I've seen my pensions, investments and liquid cash pots all pretty much increase year on year and in my head voluntarily switching off good income is sumthink I've thought about a lot, my view was better switching it off later than earlier and I was lucky employment was all good fun.

I'll be using a good DB as core income and full state pension is 5ish years. 

I may or maybe not get an annuity or annuities using DC pot.

I'll use ISAs, cash & equities plus a SIPP drawdown as the reserve bank if ever needed and others may collect value from SIPP should I leave any cash theater me gone. 

I think I'm finally over the mental fence from accumulation to de-accumulation. 

Another point that comes to mind reading this thread is it's very nice having a good few streams of cash flows possibilities that easily allow me to not touch SIPP or equities ISAs and if stockmarkets drop 40% and take maybe 10 years to recover they will be left alone, maybe top up the ISAs actually. 

Cheers Roger.

retiringtoosoon

£190 a month for telly?!

sorry, that just makes my head spin….