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  • FIRST POST
    • Smithymark
    • By Smithymark 12th Mar 18, 12:02 AM
    • 4Posts
    • 0Thanks
    Smithymark
    What to do next !
    • #1
    • 12th Mar 18, 12:02 AM
    What to do next ! 12th Mar 18 at 12:02 AM
    First time posting hello to everyone

    I am a 53 year old with no mortgage ( was made redundant last year and paid it off ) so have a spare 150 a month to do something with. My current employer has signed me up to pension with nest , he will be paying 2% and I will be paying 3% of my annual salary of 22k
    This is what l have done so far with my money please feel free to comment on anything.

    Cash isa 12k
    Santander 123 15k
    Regular saver 1800 ( 200 going in every month)

    Funds all isa wrapped

    Aviva investor distribution fund class 1 income 5k
    Aviva investor multi asset fund IV class 1 acc 4.5k
    Aviva investor UK property fund share class 6 acc 7.3k

    M&G global dividend 1 fund acc 6.5k (100 in each month)
    Schroder Tokyo Z fund acc. 6.4k(100 in each month)
    Jupiter merlin growth portfolio 1 fund 3.5k

    Pension pot
    Royal London 120k
    So what to do with the 150 and am l doing anything wrong .!!!129300;
    Thank you for looking
Page 1
    • dunstonh
    • By dunstonh 12th Mar 18, 12:24 AM
    • 92,580 Posts
    • 59,889 Thanks
    dunstonh
    • #2
    • 12th Mar 18, 12:24 AM
    • #2
    • 12th Mar 18, 12:24 AM
    You have given a list of what you have but nothing about objectives. So, what are you planning to do with your money and when?

    You are paying peanuts into your pension. is that on purpose? You have the pension value of a 45 year old
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Smithymark
    • By Smithymark 12th Mar 18, 1:10 AM
    • 4 Posts
    • 0 Thanks
    Smithymark
    • #3
    • 12th Mar 18, 1:10 AM
    • #3
    • 12th Mar 18, 1:10 AM
    My Objectives are for when l retire ,l have no children have a long term partner she lives in a house I have mine works well, can increase my salary by about 5000 with overtime ,it!!!8217;s only the last 10 years l have been able to do some serious saving ,Previous companies l worked for did not do pensions ,I had a private one but wasn!!!8217;t earning a lot to put a lot in . To be honest I don!!!8217;t know what to do with the funds I have got ,when do you know when to change to something else?
    • xylophone
    • By xylophone 12th Mar 18, 12:30 PM
    • 25,371 Posts
    • 14,967 Thanks
    xylophone
    • #4
    • 12th Mar 18, 12:30 PM
    • #4
    • 12th Mar 18, 12:30 PM
    Increase your contribution to your NEST pension?

    https://www.nestpensions.org.uk/schemeweb/NestWeb/public/memberhelpcentre/contents/how-can-i-make-additional-contributions.html
    • LHW99
    • By LHW99 12th Mar 18, 12:45 PM
    • 1,280 Posts
    • 1,179 Thanks
    LHW99
    • #5
    • 12th Mar 18, 12:45 PM
    • #5
    • 12th Mar 18, 12:45 PM
    What was the private pension? Have you checked the charges, and the funds its invested in? Could you do better putting your money into that rather than NEST, or could it be better transferring everything into NEST?
    • Smithymark
    • By Smithymark 12th Mar 18, 1:42 PM
    • 4 Posts
    • 0 Thanks
    Smithymark
    • #6
    • 12th Mar 18, 1:42 PM
    • #6
    • 12th Mar 18, 1:42 PM
    It's was a private pension until 2008 then my employer starting a pension scheme l move my private one into the Royal London one ,then was made redundant last year so about 120k in there . So do l move it all to the new nest pension, do l but some money from my savings into the pension thank you for the feed back
    • atush
    • By atush 13th Mar 18, 2:01 PM
    • 16,690 Posts
    • 10,398 Thanks
    atush
    • #7
    • 13th Mar 18, 2:01 PM
    • #7
    • 13th Mar 18, 2:01 PM
    I would pay more into pension, and consider swapping your cash ISA for a S&S isa into a global tracker or mixed asset fund.
    • Smithymark
    • By Smithymark 13th Mar 18, 7:24 PM
    • 4 Posts
    • 0 Thanks
    Smithymark
    • #8
    • 13th Mar 18, 7:24 PM
    • #8
    • 13th Mar 18, 7:24 PM
    Thank you for the feed back
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