Advice on a Good Pension

U

UFOman

Registered User
Messages
38
hello People, i've 4 small pensions that have a value of under 30k in total, my agent suggests that i put these into a pension bank account with 4% interest per year,

what do you think is the best here
 
Hi UFO Man

Some questions for you

How old are you?
When would you like to retire?
How much income would you need as a minimum in retirement (what percentage of your current income)?
How much income would you like in retirement?
How much can you afford to save each year?
How much would you be willing to save if it meant that you could take no risk with your pension?
How late would you be prepared to retire if it meant that you could take no risk with your pension?

These are the questions that you would need to answer before you could say that leaving your pension on deposit is good advice.

If you are happy to retire at 75 or if you are willing to save 40% of your income then maybe you can afford not to invest your pension.
 
hello Marc and thank you for your kind reply!

im 38
would like to be able retire @ 60ish
im self employed and there is about one million in the company sitting there
 
Hi UFOman

I have been reviewing some of your previous posts.

It seems to me that you need two things here

1) a strategy to secure your capital in the short to medium term.
2) a tax efficient capital extraction strategy to help you get the money out of your company with the smallest tax liability.

To do this I would need to meet with you and discuss your longer term goals, short term liquidity requirements, calculate your maximum funding rate, probably establish a flexible pension structure etc etc

If you would like a second opinion I would be happy to meet with you at my office for an initial assessment.
 
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