REMINDER: Last call for pre-registration for the Webinar Thursday 30th November 10am Pre-registration link is here: https://event.on24.com/wcc/r/4415548/1FE19490B28856477CC82CC544A090D0 N.B. The webinar will be recorded, so if you cannot attend but.
Read moreMonday Musings 10/10/22
Building your pension pot
In times like these, when the economy is suffering and costs are rising, there are a few patterns we see over and over. The first is scaremongering. The media is in the business of selling stories. Not facts. Good news, or dull news, doesn’t sell as well. Our media these days seems saturated with conjecture and opinion over unbiased reporting aiming for the truth. Of course, the truth can be a slippery thing and subject to your perspective. And some expert opinion can be very useful; but beware of anyone claiming to have a crystal ball.
The second is people needing funds and raiding their pensions in order to secure some. Sometimes, no doubt, this is the right thing to do and it’s wise to take advantage of the tax benefits available. However.
One of the most common concerns we face in our IFA world is “How long into my retirement will my pension last?” or similarly “How much can I safely take out of my pension?”
The FCA provides annual data on how much people are drawing out of their pensions and how long those pensions are lasting. What the current data shows us is that those with smaller pension pots are taking more out of their pensions, which of course means their pot in retirement will run out faster. Of course it’s possible that those individuals have a number of pension pots and are running down the ones they need least, or that those individuals have alternative means of generated an income in retirement. But the concern is are they doing this with an adviser giving them realistic information of the long term impact of their actions?
If you may need to access your pension, or know someone else who is considering this, we offer cash flow forecasting to help you plan out how long your pension pot will last, what you can take out of it to provide you with the income you need, or perhaps even more importantly how much should you be adding in each month now to secure your financial future. Your choices should always be measured, informed ones.
So, to the markets,
31.12.2021 | 10.10.2022 | % Change | % Change on week | |
FTSE 100 | 7384 | 6991 | Down 5.33 | Up 1.41 |
Dow Jones | 36338 | 29296 | Down 19.37 | Up 1.99 |
Nasdaq | 15645 | 10652 | Down 31.91 | Up 0.73 |
S&P | 4766 | 3639 | Down 23.64 | Up 1.51 |
NIKKEI | 28791 | 27116 | Down 5.81 | Up 4.54 |
Hang Seng | 23398 | 17740 | Down 24.18 | Up 3.00 |
Shanghai | 3640 | 3024 | Down 16.92 | 0.00 |
CAC 40 | 7153 | 5866 | Down 17.99 | Up 1.82 |
DAX | 15885 | 12273 | Down 22.73 | Up 1.31 |
I had a strange encounter on Facebook this week (sounds silly, bear with me…). A new mum put a post up on a local group asking for help. She said.
Read moreAs I’m sure is the case for you, I’ve been watching the coverage of the Israel – Hamas war with horror. The loss of innocent civilian lives, the impact of.
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