do we have any financial advisers/pension advisors on the site

[mercmanuk]

looking to finish work in the near future at 57 and would like a little advise

 

[Wearsthefoxhat]

Certainly not a financial advisor but left my last job at 58 having made sure that I could financially get to 66 when my oap should kick in.
Not sure of your financial situation but…. just plan well and all should be fine…

there is not much to invest in these days, property for a rental income is possibly the better one but brings all the hassles of letting and the tax implications.

covid came along at the beginning of our retirement, so we have spent far less than we estimated.

 

[baxlin]

Yes, I’m a retired IFA.

My advice is to make an appointment with an IFA, disregarding the cost (although many offer a free first meeting) but consider the value. Also, make sure you tell them everything that could be relevant, not just how much is in your pension pot(s) - there may be other assets you could use to help fund your retirement - otherwise they are in effect working with one hand behind their back, possibly to your detriment.

When I was in your position, I took advice, even though I could have taken myself through the process (and had done, on an ongoing basis)

 

[Skd884]

Mrs Sharma is a close friend and her partner is a forum member, drop her a line, AshleyJai at St James Place -

Meet the team | AshleyJai Wealth Management Ltd

ashleyjai.co.uk

 

[mercmanuk]

i need to find a good ifa,at the moment spoke to two who only want to advise on what shares/plans to invest in not what i need to know.
should i retire and take pension at begining of new financial year,or does it not matter,questions like that.
please any replies as pm

cheers all

 

[Dickster]

You have pm

 

[MrGreedy]

57, wow. Consider yourself very very lucky.

I'm early 40s and bought my first (and probably last) house 4 years ago, and I can see I'm going to be well into my 70s before I retire

 

[mercmanuk]

dont consider myself lucky,just used common sense,dont have any finance and dont buy what you cant afford,worked for me

 

[190]

I retired from a very well paid but high pressure job at 46 with a big pay off which was duly invested on the stock market. I then took two years off before returning to work for half the salary at something I enjoyed for the next 18 years right up to full retirement age. I could never have lasted to retirement age in my former job, nobody did. Everyone talked of getting out as soon as they could leave with a pension which at the time was 50. I just jumped ship a little earlier. Looking back I don't regret it for a second and financially I have more money in retirement than I need.

 

[Skd884]

I retired from a very well paid but high pressure job at 46 with a big pay off which was duly invested on the stock market. I then took two years off before returning to work for half the salary at something I enjoyed for the next 18 years right up to full retirement age. I could never have lasted to retirement age in my former job, nobody did. Everyone talked of getting out as soon as they could leave with a pension which at the time was 50. I just jumped ship a little earlier. Looking back I don't regret it for a second and financially I have more money in retirement than I need.

The markets can and do provide life changing returns, shame most folks do not take advantage.

 

[Dippo]

I think we've got loads of Financial Advisers on the site; the problem is that most of them are totally unqualified.

 

[190]

I think we've got loads of Financial Advisers on the site; the problem is that most of them are totally unqualified.

True but if this thread is limited to the OP and an exchange of PM's from qualified financial advisors it's no use to the rest of us. A forum is by definition a discussion amongst a group of people.

My own unqualified view is go to a financial advisor for basic strategy not specific investment products even though the days when they charged you up front and then got an undeclared kick back as well on investment funds are gone (I think).

I chose to retire just after the beginning of a new tax year to ensure my pension was assessed against the increased lifetime allowance and there are other increases in allowances which may be applicable but that's of no consequence for the next few years as allowances have been frozen. I still think Retiring in spring is preferable to the start of winter as it's a big change that takes some getting used to. The prospect of spring and summer ahead of you helps the transition.

 

[mercmanuk]

thanks everyone

 

[W1ghty]

thanks everyone

My advice is that before you even see an ifa, use the available free guides on sites such as Hargreaves Lansdown , AJ Bell and others , to read as much as you can yourself . If you spent a day reading these guides you would know 99% more than most other people anyway

 

[Smart320]

I managed to retire in 2000 at age 53 , couldn’t have done it without a very good final salary pension , with decent RPI indexation plus about £500 k in cash /investment trusts ( with some in Peps )etc. All I can say is it will cost you more than you think to keep up a really good standard of living