I am finally there. My Plan.... Please comment

MK62

Which Aviva fund are you actually planning on using for the crystallised pension.......according to Trustnet, the My Future Focus Consolidation fund is around 25% equities, but the My Future Focus Drawdown fund is around 50% (the original post stated you were "more likely" to use the Drawdown fund).
Also, what will you be investing the "£51775" in? ( your figure for what's left in your ISA and PCLS after you create your £20000 cash reserve).......
Given that you stated that you'd be quite happy to live on SP and DB alone from 87 (should you be lucky enough to get there), have you considered index linked gilt ladders.......a couple of those (one in ISA another in a SIPP (not Aviva though) would give you a pretty much guaranteed index linked £8000pa until 87, while still allowing you to keep your £20000 cash reserve.

jimjames

sgx2000 said:

Vitor said:

This all looks broadly sane and conservative. You already have a strong inflation-linked income floor from DB plus State Pension of about £20.9k gross, which materially reduces risk. I would question the £27k gross target though. For a (presumed) single person with (again presumed) no housing costs, that is comfortably above median pensioner income and implies £6k+ of discretionary spend rather than core needs. Stress-testing a lower baseline, say £23–24k, would significantly ease pressure on the DC pot. Using PCLS and cash to manage sequence risk is sensible. One mismatch is holding £18k in Bitcoin while describing yourself as risk-averse.

My intention with Bitcoin is withdraw £3k eack year that bitcoin is up...to use my Capitol Gains Allowance (no tax) and either 'fritter it away' or put it back into ISA's

You may not be aware but the CGT limit is £3k of gains so you can remove more than £3k if you actually paid some money for what you are selling (which would appear to be the case)

sgx2000

MK62 said:

Which Aviva fund are you actually planning on using for the crystallised pension.......according to Trustnet, the My Future Focus Consolidation fund is around 25% equities, but the My Future Focus Drawdown fund is around 50% (the original post stated you were "more likely" to use the Drawdown fund).
Also, what will you be investing the "£51775" in? ( your figure for what's left in your ISA and PCLS after you create your £20000 cash reserve).......
Given that you stated that you'd be quite happy to live on SP and DB alone from 87 (should you be lucky enough to get there), have you considered index linked gilt ladders.......a couple of those (one in ISA another in a SIPP (not Aviva though) would give you a pretty much guaranteed index linked £8000pa until 87, while still allowing you to keep your £20000 cash reserve.

Hi
Thanks for the reply

After Dunstonh's comments I have had a harder look at what will be contents of my Sipp. Spent the day researching.
I am currently looking at changing my original workplace pension fund Aviva Pensions My Future Focus Consolidation (Pre-2024) S6 with the newer version Aviva Pensions My Future Focus Consolidation. ( slightly lower fee's ) 

BUT, splitting the SIPP between that and probably at the moment with a HSBC FTSE All-World Index

As Dunstonh pointed out the Aviva Pensions My Future Focus Consolidation is too conservative at 25% equities.  But the HSBC FTSE All-World Index is 100% equities. (and low fees)

My only consideration now is the % of both in my Sipp
At the moment I am thinking about 60% in viva Pensions My Future Focus Consolidation
and 40% in HSBC FTSE All-World Index (or possibly 70/30)

My cash reserve (trading 212)  will all find its way into my ISA's and will be split there as well Currently 75% Cash and 25% in Vanguard FTSE All-World ETF (if and when the crash happens I will look at increasing the exposure to the Vanguard FTSE All-World ETF.
The cash reserve should realistically (hopefully) last for 7-10 years

Generally I am trying to make it all as simple as possible
Cash for the first few years, 2 ETF's (re-balanced every 6 months),  then drawdown

If I didn't have a solid base with both state pension and my cpi linked DB Pension, I may have considered a gilt ladder, but for a relatively small DC Pension it just seems like too much messing about....

If in the future it all becomes too much, then I could always just buy an endowment....

sgx2000

jimjames said:

sgx2000 said:

Vitor said:

This all looks broadly sane and conservative. You already have a strong inflation-linked income floor from DB plus State Pension of about £20.9k gross, which materially reduces risk. I would question the £27k gross target though. For a (presumed) single person with (again presumed) no housing costs, that is comfortably above median pensioner income and implies £6k+ of discretionary spend rather than core needs. Stress-testing a lower baseline, say £23–24k, would significantly ease pressure on the DC pot. Using PCLS and cash to manage sequence risk is sensible. One mismatch is holding £18k in Bitcoin while describing yourself as risk-averse.

My intention with Bitcoin is withdraw £3k eack year that bitcoin is up...to use my Capitol Gains Allowance (no tax) and either 'fritter it away' or put it back into ISA's

You may not be aware but the CGT limit is £3k of gains so you can remove more than £3k if you actually paid some money for what you are selling (which would appear to be the case)

Thanks for the reply
Yes I am aware that it is the gain not the amount.. 
But at an annual withdrawl of £3k,  HMRC will never question it....

Also you can GIFT £3k each year to your wife , so if necessary £6k each year
I do wonder how HMRC would know that the gift is to my wife.
And be concerned that it would flag it up for verification.  (I haven't gifted yet)

The biggest thing I have learned from Crypto is to ignore the violent swings and just hold (HODL) your assets.
Probably also very true of S&S (Never sell at a loss, just Hodl)

MK62

sgx2000 said:

jimjames said:

sgx2000 said:

Vitor said:

This all looks broadly sane and conservative. You already have a strong inflation-linked income floor from DB plus State Pension of about £20.9k gross, which materially reduces risk. I would question the £27k gross target though. For a (presumed) single person with (again presumed) no housing costs, that is comfortably above median pensioner income and implies £6k+ of discretionary spend rather than core needs. Stress-testing a lower baseline, say £23–24k, would significantly ease pressure on the DC pot. Using PCLS and cash to manage sequence risk is sensible. One mismatch is holding £18k in Bitcoin while describing yourself as risk-averse.

My intention with Bitcoin is withdraw £3k eack year that bitcoin is up...to use my Capitol Gains Allowance (no tax) and either 'fritter it away' or put it back into ISA's

You may not be aware but the CGT limit is £3k of gains so you can remove more than £3k if you actually paid some money for what you are selling (which would appear to be the case)

Thanks for the reply
Yes I am aware that it is the gain not the amount.. 
But at an annual withdrawl of £3k,  HMRC will never question it....

Also you can GIFT £3k each year to your wife , so if necessary £6k each year
I do wonder how HMRC would know that the gift is to my wife.
And be concerned that it would flag it up for verification.  (I haven't gifted yet)

The biggest thing I have learned from Crypto is to ignore the violent swings and just hold (HODL) your assets.
Probably also very true of S&S (Never sell at a loss, just Hodl)

AFAIK, there is no IHT between spouses.....you can "gift" as much as you want to your wife.
As for gilt ladders, it's probably true that they are a bit more "messing about" to set up, but once done, that's it really, there is nothing more to do.......no rebalancing etc.......but it's your choice (similarly with annuities too).

sgx2000

MK62 said:

sgx2000 said:

jimjames said:

sgx2000 said:

Vitor said:

This all looks broadly sane and conservative. You already have a strong inflation-linked income floor from DB plus State Pension of about £20.9k gross, which materially reduces risk. I would question the £27k gross target though. For a (presumed) single person with (again presumed) no housing costs, that is comfortably above median pensioner income and implies £6k+ of discretionary spend rather than core needs. Stress-testing a lower baseline, say £23–24k, would significantly ease pressure on the DC pot. Using PCLS and cash to manage sequence risk is sensible. One mismatch is holding £18k in Bitcoin while describing yourself as risk-averse.

My intention with Bitcoin is withdraw £3k eack year that bitcoin is up...to use my Capitol Gains Allowance (no tax) and either 'fritter it away' or put it back into ISA's

You may not be aware but the CGT limit is £3k of gains so you can remove more than £3k if you actually paid some money for what you are selling (which would appear to be the case)

Thanks for the reply
Yes I am aware that it is the gain not the amount.. 
But at an annual withdrawl of £3k,  HMRC will never question it....

Also you can GIFT £3k each year to your wife , so if necessary £6k each year
I do wonder how HMRC would know that the gift is to my wife.
And be concerned that it would flag it up for verification.  (I haven't gifted yet)

The biggest thing I have learned from Crypto is to ignore the violent swings and just hold (HODL) your assets.
Probably also very true of S&S (Never sell at a loss, just Hodl)

AFAIK, there is no IHT between spouses.....you can "gift" as much as you want to your wife.
As for gilt ladders, it's probably true that they are a bit more "messing about" to set up, but once done, that's it really, there is nothing more to do.......no rebalancing etc.......but it's your choice (similarly with annuities too).

Thanks again for the reply

You are right that a husband can 'gift' to his wife.
I was refering mainly to the crypto side.
I can gift my wife any of my crypto.
But, she also has a capital gain allowance of £3k

So I can take £3k of gains and my wife could also take £3k of gains
Allowing a couple to gain £6k Tax Free.

Yes, a Very volatile investment...
But provided you stick by the golden rules....

Never sell when it is down.
And if you dont need it within the near future, Just Hodl it...

sgx2000

OK.  I have just done a little more maths

If I put 75% of my pot into Pensions My Future Focus Consolidation
and
25% into HSBC FTSE All-World Index

The total S&S exposure is approx. 43%

Bearing in mind that my everyday expenditure inc. a couple of holidays per year is almost covered by my state pension + my DB pension.  A 43% exposure to S&S (also given that I probably wont touch the SIPP for 7-10 years)  Seams, a hopefully nore realistic SIPP Make up.

sgx2000

I have just checked and the difference between a Bog standard Aviva Pathway 3 fund
and
a mixed fund of 75% of Aviva Pensions My Future Focus Consolidation and 25% HSBC FTSE All-World Index

There really does not loook like much of a difference.....

The pathway fund is managed, so has management fees , but is low risk
The mixed idea has lower fees but slightly more risk....

Am I just wasting my time?
Should I just go with the managed portfolio and save myself the issue of rebalancing?