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Pensions and Mortages

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    Pensions and Mortages

    Can anyone point me in the right direction to look for pensions (im 28 and still not got one set up!!!) and mortages and how do mortgages work given that your not in a perm role and planning things can be be a big problem....

    Cheers

    #2
    Originally posted by SPURSN17 View Post
    Can anyone point me in the right direction to look for pensions (im 28 and still not got one set up!!!) and mortages and how do mortgages work given that your not in a perm role and planning things can be be a big problem....

    Cheers
    These people are good for mortgages, don't know about pensions: Contractor Mortgage and Pension Advice - Independent Financial Advisors for IT Contractors, Design Engineers and the Self-Employed - mortgages

    Comment


      #3
      Originally posted by SPURSN17 View Post
      Can anyone point me in the right direction to look for pensions (im 28 and still not got one set up!!!) and mortages and how do mortgages work given that your not in a perm role and planning things can be be a big problem....

      Cheers
      Don't know about mortgages. Regarding pensions, it depends on your appetite for risk. If you don't have time to manage your own pension and just want to dump your money and let someone else manage it, then look at a personal pension plan. They tend to be low performers and restricted in choice. If you have time to manage your pension in terms of fund selections, etc. Look at a SIPP. SIPP's are more flexible than other forms of pensions.

      If you are happy to go for a SIPP, have a look at Hargreaves Lansdown and SIPPDeal. Various people on this board would normally recommend one or the other. There are others out there, so feel free to do some homework.
      If your company is the best place to work in, for a mere £500 p/d, you can advertise here.

      Comment


        #4
        Consider stocks and shares ISAs as an alternative to pensions. That's what I do maxing mine and other halfs ISA allowance each year.

        But we are all different so seek professional advice before you do anything.
        ______________________
        Don't get mad...get even...

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          #5
          Originally posted by kaiser78 View Post
          Consider stocks and shares ISAs as an alternative to pensions. That's what I do maxing mine and other halfs ISA allowance each year.

          But we are all different so seek professional advice before you do anything.
          Down side to an ISA is that the only tax benefit is on the interest. Where the tax benefit on a pension is higher (20% to 50%, yes there are some tax owed, but can take a lump sum tax-free on retirement. Downside to a pension? Yeah, the money is locked away until retirement).
          If your company is the best place to work in, for a mere £500 p/d, you can advertise here.

          Comment


            #6
            Originally posted by pmeswani View Post
            Down side to an ISA is that the only tax benefit is on the interest. Where the tax benefit on a pension is higher (20% to 50%, yes there are some tax owed, but can take a lump sum tax-free on retirement. Downside to a pension? Yeah, the money is locked away until retirement).
            Money saving expert has some good posts/features on the pension vs ISA discussion and mortgages if you (OP) are interested.
            ______________________
            Don't get mad...get even...

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              #7
              SIPP - Tax effiecient pension planning - availble from 55 yro
              ISA - Tax effecient investments - up to 10k a year

              Bricks n' Mortar - Where I live in the sarf of england, prices haven't moved much since 2003. Though in some areas they've seen an increase of 40%
              UK Stock Market - pretty flat the last 10 years or so, a lot of people lost a lot of money in 2008

              err, me? i'm sticking it all on red and heavily invested in emerging markets, google BRIC. approx 150% increase the last 5 years.

              past performance is not a guarantee of future performance etc, but lets face it, the west is dead, long live the east!

              muwwahhh! etc

              If you need to buy a HOME, go for it, if you want to make money on a house, you've missed that boat imho.
              Cloud Computing - Quis custodiet ipsos custodes?

              Comment


                #8
                Originally posted by monobrow View Post
                SIPP - Tax effiecient pension planning - availble from 55 yro
                ISA - Tax effecient investments - up to 10k a year

                Bricks n' Mortar - Where I live in the sarf of england, prices haven't moved much since 2003. Though in some areas they've seen an increase of 40%
                UK Stock Market - pretty flat the last 10 years or so, a lot of people lost a lot of money in 2008

                err, me? i'm sticking it all on red and heavily invested in emerging markets, google BRIC. approx 150% increase the last 5 years.

                past performance is not a guarantee of future performance etc, but lets face it, the west is dead, long live the east!

                muwwahhh! etc

                If you need to buy a HOME, go for it, if you want to make money on a house, you've missed that boat imho.
                Best time to buy a house was back in the 1970's and 1980's, AFAIK.

                The OP has to decide what his long term, medium term and short term goals are.
                If your company is the best place to work in, for a mere £500 p/d, you can advertise here.

                Comment


                  #9
                  If you can resist the temptation to cash them, then start with a stocks and shares ISA, you need to be thinking long term so see this as pension not savings and DO NOT bottle it and sell up when things get a bit bumpy - They will tend to recover if you can hold your nerve. You need to think 5+ years AT LEAST.
                  To smooth this - use pound-cost averaging to drip feed in.
                  Also - get on fool.co.uk to see how the financial world works.
                  Finally - from a standing start most of your cash should go into the lowest charging (look up TER) index trackers you can find.
                  UK+US can be found very cheap, overseas trackers tend to be more - check out Vanguard, HSBC, Fidelity.
                  If you want to liven it up, consider 20% in a riskier area (emerging markets say - tho you could have missed boat or Gold - ditto)
                  OR go HYP with some solid dividend payers, individual shares cost less in mgmt fees.
                  Defo use a discount broker - I use HL.
                  Good luck !
                  I find it quite addictive, making the decision about what to get into next but NEVER bet the farm, build up a solid foundation in safe trackers etc and maybe have some fun with 10% each year.
                  How am I doing - pretty average, about 8% average annual return across all my funds across
                  14yrs or so.

                  Comment


                    #10
                    Originally posted by lukemg View Post
                    If you can resist the temptation to cash them, then start with a stocks and shares ISA, you need to be thinking long term so see this as pension not savings and DO NOT bottle it and sell up when things get a bit bumpy - They will tend to recover if you can hold your nerve. You need to think 5+ years AT LEAST.
                    To smooth this - use pound-cost averaging to drip feed in.
                    Also - get on fool.co.uk to see how the financial world works.
                    Finally - from a standing start most of your cash should go into the lowest charging (look up TER) index trackers you can find.
                    UK+US can be found very cheap, overseas trackers tend to be more - check out Vanguard, HSBC, Fidelity.
                    If you want to liven it up, consider 20% in a riskier area (emerging markets say - tho you could have missed boat or Gold - ditto)
                    OR go HYP with some solid dividend payers, individual shares cost less in mgmt fees.
                    Defo use a discount broker - I use HL.
                    Good luck !
                    I find it quite addictive, making the decision about what to get into next but NEVER bet the farm, build up a solid foundation in safe trackers etc and maybe have some fun with 10% each year.
                    How am I doing - pretty average, about 8% average annual return across all my funds across
                    14yrs or so.
                    My average is between 10% and 35%. Have both my Protected Rights pension and my normal pension with Hargreaves, but are separate on the portal. Since putting the money into HL, I have made about 6k profit on my investments.
                    If your company is the best place to work in, for a mere £500 p/d, you can advertise here.

                    Comment

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