[Misc] Retirement

[Eric the meek]

Which reminds me, I must get my investment MOT'd. I've been busy and it's run out. Only another 14 MOTs to go, I wonder which of us will go first

One thing's for sure - you'll have plenty of fossil fuel available for it. Unlike charging points for EVs

 

[Daddies_Sauce]

Try Josh Butten at Boosst. Advisers of the Year many times over and always fantastic advice. Wish we'd found them years ago:

boosst financial - The future is what you make it - Financial Plannners Bedfordshire

boosst financial, working with you to create and realise a financial plan that's as individual as you are.

www.boosst.financial

I've not been able to see them listed as IFA's are they?

 

[Couldn't Be Hyypia]

They are an IFA, though my understanding is that the FCA no longer designate advisors as independent (after some lobbying by the big, non independent, groups).

If in doubt, have a word with them. Really sensible and smart operation. Best decision you'll make this week - and no, I'm not on commission.

Here's their link at the FCA:

NewRegister

register.fca.org.uk

 

[Couldn't Be Hyypia]

And here's some info Josh just WhatsApped me

 

[zefarelly]

Which reminds me, I must get my investment MOT'd. I've been busy and it's run out. Only another 14 MOTs to go, I wonder which of us will go first

It's us that need the MOT's not the toys!

 

[Sirnormangall]

They are an IFA, though my understanding is that the FCA no longer designate advisors as independent (after some lobbying by the big, non independent, groups).

If in doubt, have a word with them. Really sensible and smart operation. Best decision you'll make this week - and no, I'm not on commission.

Here's their link at the FCA:

NewRegister

register.fca.org.uk

Advisers can only describe themselves as independent if they don’t receive commission. Their income comes instead from fees charged to their clients, typically between 0.5 and 1% p.a.

 

[Weststander]

And here's some info Josh just WhatsApped me

View attachment 188664

Hi. Thank you for the link. They’ve been going a long time and receive plenty of good reviews. I’ve passed on the recommendation.

 

[Weststander]

Advisers can only describe themselves as independent if they don’t receive commission. Their income comes instead from fees charged to their clients, typically between 0.5 and 1% p.a.

Or agreed fees for time given.

 

[Tim Over Whelmed]

There was this article in city am yesterday comparing st james place funds to vanguard:

St James's Place takes on Vanguard, but charges 350 per cent more

St James's Place is no stranger to high fees, but its Polaris range has come under fire for charging seven times more than its competitor.

www.cityam.com

SJP get slated on socials, it's ambulance chasing lawyers trying to get people to claim comp for nit having sufficient catch ups. I've been with them 10+ years and they've been very good. I will say, I also have a Scottish Widows pension, outside of SJP, and it hasn't performed as well. (marginally)

 

[Tim Over Whelmed]

In other, non-financial news, have had my jabs and am ready for the trip to India, Sri Lanka, Thailand, Malaysia and Singapore!

 

[dazzer6666]

SJP get slated on socials, it's ambulance chasing lawyers trying to get people to claim comp for nit having sufficient catch ups. I've been with them 10+ years and they've been very good. I will say, I also have a Scottish Widows pension, outside of SJP, and it hasn't performed as well. (marginally)

I’m about 3 years in to one of my pensions being managed by SJP. Would agree - so far, so good.

 

[thedonkeycentrehalf]

I’m about 3 years in to one of my pensions being managed by SJP. Would agree - so far, so good.

Me too

 

[Mancgull]

I am an IFA and have taken the decision to retire at the end of this calendar year.
I think a good financial adviser is able to understand their client’s goals and objectives for retirement and other areas such as helping their children, and create a robust plan to meet these needs. Cash flow forecasting is a real means of adding value for clients as it gives a very good indication as to whether these client’s need for income in retirement is likely to be achievable and sustainable. I’ve used cash flow forecasting for my own scenario to give me comfort that I can retire at the end of this year.
In terms of SJP, they aren’t IFAs as their advisers don’t have access to the whole of the market. Some of their products are inflexible and expensive. However, some of their advisers( Partners) are excellent and look after their clients very well.
I have worked on a part time basis for the past 12 months and so hopefully the shock of retirement won’t be significant for me.
I’m looking forward to not having clients to look after after having worked for the past 38 years.
I already have hobbies such as playing walking football, playing the guitar and watching the Albion.
Looking forward to a few more holidays too. The big advantage is that I can now look to go at short notice and so can search for last minute bargains for myself and Mrs MG.
I find this thread really interesting to see how people have dealt with retirement.

 

[Tim Over Whelmed]

I am an IFA and have taken the decision to retire at the end of this calendar year.
I think a good financial adviser is able to understand their client’s goals and objectives for retirement and other areas such as helping their children, and create a robust plan to meet these needs. Cash flow forecasting is a real means of adding value for clients as it gives a very good indication as to whether these client’s need for income in retirement is likely to be achievable and sustainable. I’ve used cash flow forecasting for my own scenario to give me comfort that I can retire at the end of this year.
In terms of SJP, they aren’t IFAs as their advisers don’t have access to the whole of the market. Some of their products are inflexible and expensive. However, some of their advisers( Partners) are excellent and look after their clients very well.
I have worked on a part time basis for the past 12 months and so hopefully the shock of retirement won’t be significant for me.
I’m looking forward to not having clients to look after after having worked for the past 38 years.
I already have hobbies such as playing walking football, playing the guitar and watching the Albion.
Looking forward to a few more holidays too. The big advantage is that I can now look to go at short notice and so can search for last minute bargains for myself and Mrs MG.
I find this thread really interesting to see how people have dealt with retirement.

The short notice holiday is a thing of so much fun, we literally look on Sat or Sun to leave in the next 24 hours, it's great!

 

[Mancgull]

SJP get slated on socials, it's ambulance chasing lawyers trying to get people to claim comp for nit having sufficient catch ups. I've been with them 10+ years and they've been very good. I will say, I also have a Scottish Widows pension, outside of SJP, and it hasn't performed as well. (marginally)

Agree, although there are clients of SJP who haven’t received these reviews and so have the right to claim back their ongoing advice fees when they haven’t been given the service they have been paying for.
This issue isn’t specific to SJP though, it’s industry wide.
No need to go through a legal firm though. Just write to the advice company and ask for the compensation you are due. Cuts out the middle man who will take 25/35% of the compensation you are due. If they don’t respond ask to lodge an official complaint.

 

[Mancgull]

The short notice holiday is a thing of so much fun, we literally look on Sat or Sun to leave in the next 24 hours, it's great!

Where do you tend to look?

 

[Tim Over Whelmed]

Agree, although there are clients of SJP who haven’t received these reviews and so have the right to claim back their ongoing advice fees when they haven’t been given the service they have been paying for.
This issue isn’t specific to SJP though, it’s industry wide.
No need to go through a legal firm though. Just write to the advice company and ask for the compensation you are due. Cuts out the middle man who will take 25/35% of the compensation you are due. If they don’t respond ask to lodge an official complaint.

Precisely, SJP are targetted as they have the largest client base, therefore the 40% commission mongers are all over it. I'm lucky my guy is always doing a review or picking up the phone if I have a specific issue,

 

[Tim Over Whelmed]

Where do you tend to look?

kayak
lastminute
TUI
OnTheBeach

We have a good poke around, also go direct websites of hotels we've seen on our travels and see if they offer any direct booking last minute bargains.

Warners, if you want a base to explore from, pretty basic accommodation but breakfast and dinner included and reasonable but basic accom. It's like god's waiting room but, as I've said, a very cheap base. We had two nights in the IoW, bed, breakfast and dinner for £206 for two, including car ferry.

 

[Seagull on the Hill]

One of the benefits of retirement, for me anyway, is having the time to take my dog for a long walk on a glorious Autumn morning like this.
I am lucky enough to live in a rural part of East Sussex , and on my walk today I saw a small herd of deer, a green woodpecker, a buzzard circling overhead, and a couple of wild ducks swimming in the Bull river.
Fantastic!

 

[Napper]

https://www.livingwage.org.uk/news/pension-pot-needed-basic-retirement-rises-60-cent-nearly-£110000

£107,000 pension pot. Doesn't seem very big at all but surprising the numbers who don't even have a pot and rely on state.

Guessing 250 - 400k if own own property be a decent situation to end up in ?

This suggests that most with private pensions get to 190k

What Is The UK Average Pension Pot?

If you’re saving for retirement, it’s natural to question whether you’re on track to amass enough to make you financially comfortable, and to wonder how yo

www.forbes.com