Pension Growth last 12 months (!)
- Thread starter mjheathcote
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Wattie
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Anything that makes you happy is the “right thing!”
RoaryRati
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That's exactly what I did with the inheritance from my parents - and when it's spent the car goes (although I may have to do a bit of 'statistical' costing analysis!)
Scaf
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I am not a financial advisor or investor, but the internet would say retire at say 68 £1m in an annuity will return c£50k per year. My wife has never worked and so has no company pension. £50k pa won’t go near giving us the retirement I desire.
(I appreciate that annuities are not the place the place to invest, it’s just an example.)
I have two half decent final salary schemes for previous jobs, and a defined contribution scheme, plus a couple of buy to let’s, but if I want to my cash out of those I have to pay tax on the capital gain and then again in the income from investing the cash.
As I say, the lifetime allowance is just another way to tax those that have made provision.
Tax me on what I earn - then tax me on any investment I make on my net income - then tax me again if I happen to leave too much money that has already been taxed twice.
midlifecrisis
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Having a chat with a colleague at work today about Pensions and the new rules regarding the rise from 40k to 60k for annual allowance, but unlimited lifetime allowance. We discovered that the maximum tax-free lump is 25% or £268,275...
Which is the roughly the price of a new MC20 with some options selected...coincidence?
Which is the roughly the price of a new MC20 with some options selected...coincidence?