Statement of intent

gallygirl

Lucky you with such a great pension Stuart :j.

Mine is 5% non-contrib, but I pay in about 10% gross salary a month (inc. tax relief ). I'm loath to pay in more due to a deep distrust of the financial sector and wanting to have complete control over money. I've just checked last statement - I am paying 25% into Artemis UK Special Situ, FP European, First State Asia Pacific Leaders & FP Pacific Basin. The fund choice is large but limited in the areas I want. I just went to look at spreadsheet only to find I have deleted it :eek: (had a rather over vigorous tidy up a month or so back ). I'm sure I will have an old back up somewhere, else I will have to recreate. Oh well, that will keep me out of trouble.

The profiles don't really help me - I want to retire early but don't intend to draw a pension till 60-65 so still want high risk.

StuartGMC

gallygirl wrote: »

Lucky you with such a great pension Stuart :j

Well it is 1/60ths based, but, for every year I go early I lose 4% of salary i.e. 20% loss in annual pension if I retire at 60... I have a small annuity from previous company scheme (they went bust in 1992) which kicks in at 60 and includes spouse pension etc, but it is unlikely to make up for the 4% loss 16yrs from now (or maybe I'm just being unrealistic about my salary at 60?).

I just went to look at spreadsheet only to find I have deleted it :eek: (had a rather over vigorous tidy up a month or so back ). I'm sure I will have an old back up somewhere, else I will have to recreate. Oh well, that will keep me out of trouble.

Nightmare! I've taken to keeping a "monthly" version of our spreadsheets in an attempt to avert this, but I must back-up the network storage!!!

The profiles don't really help me - I want to retire early but don't intend to draw a pension till 60-65 so still want high risk.

Interesting to read articles these days commenting on keeping some in equities etc if appropriate to get some growth even when retired, before the enforced annuity at 75. May be worth reading these items too?

Retire before 60 :T:T:T; you really are in an excellent position then as very few people can plan for that these days. Whilst that would be 15yrs after MFD, we still have the "little" issue of financing DD in the interim, but, we will also be much more flexible in what we can choose to do all the same, possibly even retire clsoe to 60 ourselves? :rolleyes:

gallygirl

StuartGMC wrote: »

Retire before 60 :T:T:T; you really are in an excellent position then as very few people can plan for that these days. Whilst that would be 15yrs after MFD, we still have the "little" issue of financing DD in the interim, but, we will also be much more flexible in what we can choose to do all the same, possibly even retire close to 60 ourselves? :rolleyes:

Depends on a few things coming together:
2 BTL's and own mortgage paid off.
Confidence in steady income from 3 BTL's.
Money in bank (from selling mum's house, after paying some to [STRIKE]leeches[/STRIKE] DS & DD
Situation with OH - when is he prepared to move to Spain
etc etc

I want to be in a decision to choose - 55 is a dream but at least working towards it gives me a chance :T

StuartGMC

Gallygirl
Looks like it's all coming together; best wishes in achieving your goals.

I have now updated page 1 to reflect a few items from the past month.

http://forums.moneysavingexpert.com/showpost.html?p=11324079&postcount=1

setmefree2

gallygirl wrote: »

Smf2 I too am with FP. Have you already selected your funds or was this the Lifeestyle option? I have selected 4 and monitor performance every 1/4 - in between I forget about it as it would be easy to obsess over (although currently couldn't even name the sectors which is maybe a tad over-laid back ). However, what I would like (or maybe not like :rolleyes: ) to see is how my choices would comapre with their Lifestyle choice for my age/risk profile.

Am due an update any day, not looking forward to it _pale_, but I agree with you over USA - they started all this but don't appear to be suffering as we are - at least $ isn't.

Yes it is a lifestyle investment programme. As I have 10 years or more to go my pot is invested entirely in the funds I choose. The default position is a managed fund. There are a huge aray of funds - Investment funds, index funds, sector investment funds. In the past I have been in the Pacific basin fund, the European fund and the North American fund.

As well as worrying about my pension pot, I also worry about the state of FP - LOL, especially with the credit crisis. Many insurance companies own Bank Bonds which are meant to be low risk investments but obviously with the threat of nationalisation hanging over banks these types of investments now give the City the jitters, especially since nobody knows which insurance company owns which Bank Bonds. However, FP shares rose 11% yesterday after giving it's earnings results to the city, so that is good news.

TTFN

SMF2

gallygirl

Just read your Page 1 post Stuart, I think I may adopt your idea as I am always looking back over my ramblings for things . Really interesting to see the progress / change of focus summarised.

My tidying up of my computer did not extend to emptying the recycling bin so I have found my pensions spreadsheet (also a power one I had chucked!). Having opened it I wish I had deleted it though, not a pretty picture (well actually it is very pretty as lots of different coloured lines, but all going in the wrong direction:eek: ). This thread has made me decide to have a good look at funds this weekend (I can view online) and make a short list of ones to be considered.

StuartGMC

Thanks for the comments Gallygirl; I can't claim originality for the "Page 1" updating, I think FinancialBliss was the first I saw doing that, but it is useful.

Do remember the markets and investments are going to be very hard to call this year; a number of publications and websites have commentary though to try to get some ideas.

OH had to pay her professional membership today; only part time so her professional body give a discount, a whole £35 or so, so it's "only" £205 to pay.... :mad:

setmefree2

StuartGMC wrote: »

OH had to pay her professional membership today; only part time so her professional body give a discount, a whole £35 or so, so it's "only" £205 to pay.... :mad:

gallygirl

StuartGMC wrote: »

OH had to pay her professional membership today; only part time so her professional body give a discount, a whole £35 or so, so it's "only" £205 to pay.... :mad:

This is tax deductable though? At least that's 20% back.

Have taken on board your comments Stuart, I will start by looking at what sectors are on offer from FP. No point identifying an opportunity in Iceland if FP don't do a 'Dodgy - Will Bankrupt the Whole World Fund'

StuartGMC

gallygirl wrote: »

This is tax deductable though? At least that's 20% back.

Yes, it is listed with HMRC, but it is high compared to my costs at full-time in a different profession (and employer pays for 2 memberships per staff too)

Have taken on board your comments Stuart, I will start by looking at what sectors are on offer from FP. No point identifying an opportunity in Iceland if FP don't do a 'Dodgy - Will Bankrupt the Whole World Fund'

The problem is, I don't think the advisors know either! :eek::eek::eek: