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Pensions (again!)

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    Pensions (again!)

    Sorry, I couldn't be bothered to find and bump my previous thread. I've finally decided to pull my finger out and start putting something away for the future. The more I think about it and procrastinate, the more I'm potentially losing gains on any investments.

    I already have a Charles Stanley platform account which I'm happy with. I currently have an ISA which I opened recently and I'm putting £200/month away for a rainy day. It's invested in a balanced portfolio with medium risk that I let their platform put together. I also have two junior ISAs for my daughters on there too, both invested into Vanguard Lifestrategy 80.

    My plan is to create a new SIPP and start making company contributions. This will vary depending on company performance but I'll be aiming for approx. £1000-1500 a month. Personally I can probably afford to stick another £100 a month in there plus occasional lump sums as my general savings budget overflows.

    In terms of investing I want something I can forget about so the plan is to stick it all in either Lifestrategy 80 or 100, probably 80. Forget about it until my portfolio hits 6 figures at which point I can take professional advice on diversifying if necessary.

    On the basis that nothing is ever certain with investing and I don't want to think about this too much, does this sound like a reasonable plan? Anything you'd do differently? I'm 35 now. I'd love to retire at 55 but realistically I'm probably looking at at least 25 years before I have a decent pension pot. I've looked at a few growth calculators which seem to suggest a regular monthly investment of £1200 for 25 years would give me a pot of about £835,537 with 6% annual growth which seems like it should give a fairly comfortable annual income after a 25% lump sum.

    #2
    Originally posted by TheCyclingProgrammer View Post
    Sorry, I couldn't be bothered to find and bump my previous thread. I've finally decided to pull my finger out and start putting something away for the future. The more I think about it and procrastinate, the more I'm potentially losing gains on any investments.

    I already have a Charles Stanley platform account which I'm happy with. I currently have an ISA which I opened recently and I'm putting £200/month away for a rainy day. It's invested in a balanced portfolio with medium risk that I let their platform put together. I also have two junior ISAs for my daughters on there too, both invested into Vanguard Lifestrategy 80.

    My plan is to create a new SIPP and start making company contributions. This will vary depending on company performance but I'll be aiming for approx. £1000-1500 a month. Personally I can probably afford to stick another £100 a month in there plus occasional lump sums as my general savings budget overflows.

    In terms of investing I want something I can forget about so the plan is to stick it all in either Lifestrategy 80 or 100, probably 80. Forget about it until my portfolio hits 6 figures at which point I can take professional advice on diversifying if necessary.

    On the basis that nothing is ever certain with investing and I don't want to think about this too much, does this sound like a reasonable plan? Anything you'd do differently? I'm 35 now. I'd love to retire at 55 but realistically I'm probably looking at at least 25 years before I have a decent pension pot. I've looked at a few growth calculators which seem to suggest a regular monthly investment of £1200 for 25 years would give me a pot of about £835,537 with 6% annual growth which seems like it should give a fairly comfortable annual income after a 25% lump sum.
    Let me just wipe your bum before I answer your question.

    The robots will take over the world within 25 years. Money, goods and wealth will be worthless. You will be plugged into a machine and the remaining years of your life will be spent powering a low grade robot that shovels tulip.

    Comment


      #3
      Originally posted by woohoo View Post
      Let me just wipe your bum before I answer your question.

      The robots will take over the world within 25 years. Money, goods and wealth will be worthless. You will be plugged into a machine and the remaining years of your life will be spent powering a low grade robot that shovels tulip.
      The most successful funds in my pension (and ISA) are the robotics ones
      "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

      Comment


        #4
        The risk ratio for investing
        your age should be the % you put in safe investments
        the balance i.e. 100 -your age should be put in riskier investments.

        HTH
        Fiscal nomad it's legal.

        Comment


          #5
          Originally posted by TheCyclingProgrammer View Post
          Sorry, I couldn't be bothered to find and bump my previous thread. I've finally decided to pull my finger out and start putting something away for the future. The more I think about it and procrastinate, the more I'm potentially losing gains on any investments.

          I already have a Charles Stanley platform account which I'm happy with. I currently have an ISA which I opened recently and I'm putting £200/month away for a rainy day. It's invested in a balanced portfolio with medium risk that I let their platform put together. I also have two junior ISAs for my daughters on there too, both invested into Vanguard Lifestrategy 80.

          My plan is to create a new SIPP and start making company contributions. This will vary depending on company performance but I'll be aiming for approx. £1000-1500 a month. Personally I can probably afford to stick another £100 a month in there plus occasional lump sums as my general savings budget overflows.

          In terms of investing I want something I can forget about so the plan is to stick it all in either Lifestrategy 80 or 100, probably 80. Forget about it until my portfolio hits 6 figures at which point I can take professional advice on diversifying if necessary.

          On the basis that nothing is ever certain with investing and I don't want to think about this too much, does this sound like a reasonable plan? Anything you'd do differently? I'm 35 now. I'd love to retire at 55 but realistically I'm probably looking at at least 25 years before I have a decent pension pot. I've looked at a few growth calculators which seem to suggest a regular monthly investment of £1200 for 25 years would give me a pot of about £835,537 with 6% annual growth which seems like it should give a fairly comfortable annual income after a 25% lump sum.
          I put my money in a Standard Life scheme, it matured in 2005. I got less than half I had put in. Since then, every penny goes into to property.
          "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

          Comment


            #6
            Originally posted by alreadypacked View Post
            The risk ratio for investing
            your age should be the % you put in safe investments
            the balance i.e. 100 -your age should be put in riskier investments.

            HTH
            Because of current (and expected future) low returns on bonds and other safe investments, together with generally longer life expectancies, the updated wisdom is now 120-your age.

            Comment


              #7
              Haven't contributed to a pension since I've been contracting (11 years) - always intended to, just never got around to it.

              Have residual pensions from when I was previously permie, but on current estimates they will only provide around 5k pa.

              Clearly that's not enough but we have no dependants, so aiming to to release equity from the property as and when we need to.

              In the meantime, if work continues to come my way then I'll try to throw a few k into a SIPP as and when.
              Do what thou wilt

              Comment


                #8
                Originally posted by Dark Black View Post
                Haven't contributed to a pension since I've been contracting (11 years) - always intended to, just never got around to it.

                Have residual pensions from when I was previously permie, but on current estimates they will only provide around 5k pa.

                Clearly that's not enough but we have no dependants, so aiming to to release equity from the property as and when we need to.

                In the meantime, if work continues to come my way then I'll try to throw a few k into a SIPP as and when.
                useing a SIPP lets you control the investments, so you can grow, with some application <personal, not smartphone >

                if your permie pension is a final salary scheme it might be better to leave it.
                If, not you can transfer it to your SIPP and invest it in whatever you see fit .

                Comment


                  #9
                  Originally posted by greenlake View Post
                  Because of current (and expected future) low returns on bonds and other safe investments, together with generally longer life expectancies, the updated wisdom is now 120-your age.
                  A greenlake post without a witty picture? Is this the end of CUK?

                  Comment


                    #10
                    Originally posted by woohoo View Post
                    Let me just wipe your bum before I answer your question.

                    The robots will take over the world within 25 years. Money, goods and wealth will be worthless. You will be plugged into a machine and the remaining years of your life will be spent powering a low grade robot that shovels tulip.
                    Don't forget to wipe the mods arses first.

                    Who cares about 25 years? Buy bitcoin NOW! Gazillion percent rises guaranteed.

                    Comment

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