SIPP/Financial Advisor

EdInvestor

whiteflag wrote: »

But thats my point

This is a money saving site and you asked "what is the best Sipp" , we then find you only need a 4% return so you dont need the whole investment universe (ie SIPP), I then post figures showing a PP is the cheapest option, you then query the validity of the figures,

If he only needs a 4% return he can invest quite a lot in gilts and cash.I can assure you there is no way a PP is the cheapest wrapper for this kind of drawdown.It also doesn't offer the same risk protection, as you cannot invest directly into either gilts or cash.

Retired_I.F.A.

jem16 wrote: »

Excuse me - after a comment like that I think that's the last time I stick up for you lot.

Nothing personal Jem but you've got to admit there's a hell of a lot of teachers out there that have never left the classroom.

How many kids actually leave school and are able to understand their first payslip let alone anything regarding savings investments mortgages etc? I'd bet the answer is akin to 1 in 10,000.

As for maths teachers, I've only ever met four post my school days and none of them could understand 1+1=2 as all four had taken out a personal pension instead of remaining in the teachers scheme.thinking their sole contibutions would result in a better retirement. I half expected that from the 50+ I'd met that had done the same but not the maths teachers.

You may well be a great teacher but in my opinion and experience the teaching profession is a joke.

whiteflag_3

EdInvestor wrote: »

.I can assure you there is no way a PP is the cheapest wrapper for this kind of drawdown.It also doesn't offer the same risk protection, as you cannot invest directly into either gilts or cash.

What kind of drawdown? Gatser are you in drawdown?

What doesnt offer the same risk protection ? Gatser, whats she on about cause I havent got a scooby?

Retired_I.F.A.

Why do we not just clearly state that "I disagree with Mr X, My view is yyyyyy" (Boring, but rather more polite & courteous)"

You can only be polite wher Eds concerned 20 or 30 times after that you not human if you dont want to just shove a sock in her gob.

Gatser

Retired_I.F.A. wrote: »

Nothing personal Jem but you've got to admit there's a hell of a lot of teachers out there that have never left the classroom.

You may well be a great teacher but in my opinion and experience the teaching profession is a joke.

Dear Mr Retired IFA,
You are on the wrong site... please go to www.dontliketeachers.com

What on earth has this got to do with the thread?

ps What do you think about Estate agents? :rotfl:

Gatser

Retired_I.F.A. wrote: »

You can only be polite wher Eds concerned 20 or 30 times after that you not human if you dont want to just shove a sock in her gob.

Looks like you are a lost cause on the Polite & Courteous theme then !

On behalf of Retired IFA, I hereby APOLOGISE to EDINVESTOR for all silly, unnecessary and unprofessional discouteous remarks made to date.
(I may need to issue this apology on a regular basis it seems )

jem16

Retired_I.F.A. wrote: »

Nothing personal Jem but you've got to admit there's a hell of a lot of teachers out there that have never left the classroom.

Yes and I'm one of them - that's the nature of the job strangely enough, in fact any job. You go to school, perhaps college or uni and then you start work. Our work takes us back into a classroom.

It doesn't make us any more or less knowledgeable for the "real" world.

How many kids actually leave school and are able to understand their first payslip let alone anything regarding savings investments mortgages etc? I'd bet the answer is akin to 1 in 10,000.

School equips you with the basics which you then have to apply in the real world. Nothing to do with the teaching and all to do with today's society. Today's kids want everything done for them and don't want to think for themselves.

As for maths teachers, I've only ever met four post my school days and none of them could understand 1+1=2 as all four had taken out a personal pension instead of remaining in the teachers scheme.thinking their sole contibutions would result in a better retirement. I half expected that from the 50+ I'd met that had done the same but not the maths teachers.

It wasn't long ago you tried to tell me that I should not have been thinking of my final salary pension as "gold-plated". I wish you would make your mind up!

By the way I don't know any of my teaching colleagues who is not in the Teachers' Pension Scheme and I bet I know more teachers than you.

You may well be a great teacher but in my opinion and experience the teaching profession is a joke.

Some might say the same for IFAs.

Exactly how many teachers have you had experience of to make this sweeping statement? Not that many I would bet. Every profession has its bad apples - don't lump us all together.



Apologies for taking this thread way off topic but I can't let comments like this go unanswered.

Gatser

whiteflag wrote: »

But thats my point

This is a money saving site and you asked "what is the best Sipp" , we then find you only need a 4% return so you dont need the whole investment universe (ie SIPP), I then post figures showing a PP is the cheapest option, you then query the validity of the figures, then after all that you say "ive decided to go for the SIPP". ( and then welcome others who dont fully understand why they have gone for the SIPP either)

To me it feels like your extracting the Michael.

As I have said before ... I have planned for only 4% but that is not what I am aiming for, I want as much as possible please. Therefore I think I do need the range of investments that a SIPP can offer.

Yes, you say that a PP is cheaper and I admit I am VERY cautious about the PP route because I have become wary of PP's in general. If they are as open and accessible as SIPPs, I should consider the better ones (I am currently looking into Skandia, any others you think I should consider?)

As for deciding on a SIPP... I have signed up for nothing yet...

So...No....I am not trying to upset you...humble apologies if you thought that.... but I may well make the "wrong" decision IYHO at the end.
I will reap the rewards or losses on that.
But I will be grateful for ALL comments that I have read.

Gatser

jem16 wrote: »

Apologies for taking this thread way off topic but I can't let comments like this go unanswered.

Some things need saying!

...anyway....HE started it!! (Na Na Nay Ney Na )
.

Gatser

whiteflag wrote: »

What kind of drawdown? Gatser are you in drawdown?

What doesnt offer the same risk protection ? Gatser, whats she on about cause I havent got a scooby?

I am planning to be in Drawdown, so I need that facility.

Ed means that, as one cannot invest in (lower risk) cash & gilts via a PP,
the PP does not offer the same level of risk reduction.
Does that make it clearer? (assuming I am understanding correctly of course!)