Pensions.

[big_truck]

JeffA:

Big Truck:

JeffA:
Really? So theres no end of truckers in great paying work for 40 years? No house to save for? They can just pump a milion into a pension can they? Funny, never met one.

And times have changed - since 1984 there have stock market booms. For the last 15 years the stock market tanked so nobody will get the gains from the 80s and 90s you got

How much did your parents give you? Did you inherit their house? Is the wife earning a fortune? Something doesnt sound quite right about truckers retiring at 60 on massive pensions.

My mortgage was paid off 5yrs early seven ago by endowments that Clowns like you said wouldn’t make any money!!! Lol
So much so that there was/is certain financial institutions made a killing BUYING 2nd hand endowments and keeping them until they matured!!!

Wife only works PT as an Administrator so doesn’t earn a fortune!!!
Who mentioned pumping a million into a pension!!!
Investments are all about TIMING and TIME just ask Warren Buffet!!!

My two boys are 17yrs and 15yrs and we started a wee “Child investment scheme” via £250 from Gov when they were born.
We pay £10month into it mainly for a deposit for them ref a house as in £10month into each boys fund.
Eldest one currently has close to £10k in his fund and youngest £8.5k.
You do the maths!!!
Aye but sure equity investments been dung this past 15yrs according to you!!! LOL

Sent from my SM-A125F using Tapatalk

Yeah I’m just wondering why you’re the exception that proves the rule tho. So you’ve been in well-paid driving work solidly for 40 years? And always had plenty to pay into a pension? That’s unusual in itself for a truck driver.

The interest rate on childrens bonds now is 0.6% - hard to see that turning £250 and a tenner a month into ten grand in 17 years. Times have changed.

It’s not a “children’s bond” it’s invested in the stock market via an investment trust.
Hence why in 17yrs the £2300 invested is now worth close to £10k!!!

It’s managed now by “Forrester Financial”,
I was thinking about transferring the both of them into a “children’s ISA” as better choice of investment funds to choose from.
But the monthly contribution is minimum £50month for an ISA.
Also do you not believe the other two truck driver posters on this thread saying they’ve done well ref their pension investments!!!

Sent from my SM-A125F using Tapatalk

[dozy]

Winseer:
If you have a £250,000 mortgage, and the endownment comes in at say, £220,000 - then you’ll typically be selling your house to redeem the mortgage anyways - right?

Otherwise you’re supposedly going to have to come up with the £30,000 shortfall - just to stay put in the house you’ve lived in for the past 25 years?

A lot of people may of had such savings 5-10 years back but now?

Our endowment was for 15,000 , and I’m sure the prediction was we were going to be £6,000 short , so long time ago but I think the options were to take out a mortgage at end for the £6,000 , pay the shortfall if you had it ( I.e ) £6,000 or do as we did change to a repayment mortgage
Which I was lucky as I got a payment booklet off nationwide , didn’t go d/d so I could pay extra as & when I wanted , £10/£20-£100 pm extra so we were finished years early
But still doesn’t alter fact we we’re miss- sold a endowment mortgage .
£15,000 endowment , £6,000 shortfall seems nothing now , but we were nearly starting out & it caused some sleepless nights I can assure you

[big_truck]

dozy:

Winseer:
If you have a £250,000 mortgage, and the endownment comes in at say, £220,000 - then you’ll typically be selling your house to redeem the mortgage anyways - right?

Otherwise you’re supposedly going to have to come up with the £30,000 shortfall - just to stay put in the house you’ve lived in for the past 25 years?

A lot of people may of had such savings 5-10 years back but now?

Our endowment was for 15,000 , and I’m sure the prediction was we were going to be £6,000 short , so long time ago but I think the options were to take out a mortgage at end for the £6,000 , pay the shortfall if you had it ( I.e ) £6,000 or do as we did change to a repayment mortgage
Which I was lucky as I got a payment booklet off nationwide , didn’t go d/d so I could pay extra as & when I wanted , £10/£20-£100 pm extra so we were finished years early
But still doesn’t alter fact we we’re miss- sold a endowment mortgage .
£15,000 endowment , £6,000 shortfall seems nothing now , but we were nearly starting out & it caused some sleepless nights I can assure you

I must have been just lucky the endowments were from “Save & Prosper” and “Friends Provident” and they were in demand on the 2nd hand market so I opted to keep them.
Didn’t set the world on fire % gain wise but !!!

Sent from my SM-A125F using Tapatalk

[big_truck]

Just for “JeffA”:

Looked up my HL app ref my SIPP pension.

Have mixture of twelve investment funds contained in portfolio and the three best performing so far are:

“FTF Martin Currie” bought 2010 448% gain.
"Lindseltrain Global Equity bought 2012 100% gain.
“Stewart Investors Global Immerging Markets” bought 2008 225% gain.
Eight of the others are in double digit % gains.
Single one is an 8% loss but was only invested in 2020 so time enough yet!!!
But investments been crap past 15yrs!!!
Lol.

Any truck driver@ 20yrs of age putting away £100month into a WELL MANAGED SIPP pension with the Gov topping up by 20% FOR FREE.
Then in turn sensibly increasing his contributions over time should after 40yrs have a fairly nice wee nest egg built up but it does need that TIME.
Nobody can make a fortune over the short term in order to retire@ 60yrs!!!

Sent from my SM-A125F using Tapatalk

[mac12]

I started a pension when I was 18 that I claimed when I was 60 in that time I paid in £14200 and I now receive £5800 per year which isn’t much but I’m saving it until I’m 64 when I’m hopefully going to retire
When I was 20 I also started another pension that I pay £600 a year so not much that I can claim at 65 that is currently worth £280000 which based on my other pension should be worth £15000 per year
The 2 together looking at £20000 add on my state pension and I think I can manage

[big_truck]

mac12:
I started a pension when I was 18 that I claimed when I was 60 in that time I paid in £14200 and I now receive £5800 per year which isn’t much but I’m saving it until I’m 64 when I’m hopefully going to retire
When I was 20 I also started another pension that I pay £600 a year so not much that I can claim at 65 that is currently worth £280000 which based on my other pension should be worth £15000 per year
The 2 together looking at £20000 add on my state pension and I think I can manage

Good man,
Enjoy the fruits of your labour when you decide to hang up the keys!!!

Sent from my SM-A125F using Tapatalk

[mac12]

Big Truck:

mac12:
I started a pension when I was 18 that I claimed when I was 60 in that time I paid in £14200 and I now receive £5800 per year which isn’t much but I’m saving it until I’m 64 when I’m hopefully going to retire
When I was 20 I also started another pension that I pay £600 a year so not much that I can claim at 65 that is currently worth £280000 which based on my other pension should be worth £15000 per year
The 2 together looking at £20000 add on my state pension and I think I can manage

Good man,
Enjoy the fruits of your labour when you decide to hang up the keys!!!

Sent from my SM-A125F using Tapatalk

I saw sense and left driving 10 years ago to work on the railway so I also have a pension from that but my post shows that you don’t need to pay a fortune in if you start early enough. I don’t know how people can manage just with the state pension

[big_truck]

mac12:

Big Truck:

mac12:
I started a pension when I was 18 that I claimed when I was 60 in that time I paid in £14200 and I now receive £5800 per year which isn’t much but I’m saving it until I’m 64 when I’m hopefully going to retire
When I was 20 I also started another pension that I pay £600 a year so not much that I can claim at 65 that is currently worth £280000 which based on my other pension should be worth £15000 per year
The 2 together looking at £20000 add on my state pension and I think I can manage

Good man,
Enjoy the fruits of your labour when you decide to hang up the keys!!!

Sent from my SM-A125F using Tapatalk

I saw sense and left driving 10 years ago to work on the railway so I also have a pension from that but my post shows that you don’t need to pay a fortune in if you start early enough. I don’t know how people can manage just with the state pension

I’ve been preaching that exact same gospel to friends/family/work mates for YEARS ref a self invested pension!!!

Sent from my SM-A125F using Tapatalk

[dozy]

mac12:

Big Truck:

mac12:
I started a pension when I was 18 that I claimed when I was 60 in that time I paid in £14200 and I now receive £5800 per year which isn’t much but I’m saving it until I’m 64 when I’m hopefully going to retire
When I was 20 I also started another pension that I pay £600 a year so not much that I can claim at 65 that is currently worth £280000 which based on my other pension should be worth £15000 per year
The 2 together looking at £20000 add on my state pension and I think I can manage

Good man,
Enjoy the fruits of your labour when you decide to hang up the keys!!!

Sent from my SM-A125F using Tapatalk

I saw sense and left driving 10 years ago to work on the railway so I also have a pension from that but my post shows that you don’t need to pay a fortune in if you start early enough. I don’t know how people can manage just with the state pension

The problem with starting young are most end up with a mortgage / kids etc , so
Very little left for pensions / savings , I’ve always saved , had a pension from young but the bulk of my savings / pensions etc have come from when the mortgage / my girl was older
With things as they are I’d guess most young families are struggling to live / pay daily bills never mind putting £££££ into pensions/ savings

[winseer]

Big Truck:
Just for “JeffA”:

Looked up my HL app ref my SIPP pension.

Have mixture of twelve investment funds contained in portfolio and the three best performing so far are:

“FTF Martin Currie” bought 2010 448% gain.
"Lindseltrain Global Equity bought 2012 100% gain.
“Stewart Investors Global Immerging Markets” bought 2008 225% gain.
Eight of the others are in double digit % gains.
Single one is an 8% loss but was only invested in 2020 so time enough yet!!!
But investments been crap past 15yrs!!!
Lol.

Any truck driver@ 20yrs of age putting away £100month into a WELL MANAGED SIPP pension with the Gov topping up by 20% FOR FREE.
Then in turn sensibly increasing his contributions over time should after 40yrs have a fairly nice wee nest egg built up but it does need that TIME.
Nobody can make a fortune over the short term in order to retire@ 60yrs!!! Not true, “Some” people can, but “Most” don’t. Most is not the same as “Nobody” here.
We all think in different ways, and come up with an investment plan in as many different ways as there are stars in the sky as well…
Personally, I like to pick stocks that won’t go bust, unless they get nuked, in which case I won’t be here to care that I lost my shirt on that investment…
I don’t invest in companies that have a crap balance sheet, essentially… “Trading on debt” is high-risk - and always has been.

Sent from my SM-A125F using Tapatalk

…But But - a well-managed SIPP means you’re a dab hand at playing the markets yourself - don’t it?
Or which part of SELF invested Pension Plan - did I not understand here?

All I’d do “DIY” would be to build a portfolio containing 52 different shares paying yields of 3% and better in dividends either once or twice a year.
Pick shares so you end up with a dividend cheque literally every week.
You’re “measuring twice, cutting once” here, since once you’ve bought your entire portfolio - you’re going to sit on it indefintely, because you’ve bought it for the dividend income. You don’t have to worry if the shares go up or down, as you can always switch if one share goes up a lot for no reason, or buy some more if a share goes down for no reason, i.e. the normal day-to-day moves of the stock market as whole, creat buying and selling opportunities nearly every day, and you don’t have to micro-manage your portfolio in front of a dealing screen all day long, since the dividends themselves are only going to change once in a blue moon anyways…

You’ll only need to buy a single copy of the Financial Times as well, to get your initial picks in.
Try to make “D Day” the day when you buy the entire portfolio - a day when the market makes a decent move down for no reason affecting any particular sector, Eg. a crash, flash crash, or “bad economic data” day.

[conor]

Or just invest in an index fund…

[big_truck]

Winseer:

Big Truck:
Just for “JeffA”:

Looked up my HL app ref my SIPP pension.

Have mixture of twelve investment funds contained in portfolio and the three best performing so far are:

“FTF Martin Currie” bought 2010 448% gain.
"Lindseltrain Global Equity bought 2012 100% gain.
“Stewart Investors Global Immerging Markets” bought 2008 225% gain.
Eight of the others are in double digit % gains.
Single one is an 8% loss but was only invested in 2020 so time enough yet!!!
But investments been crap past 15yrs!!!
Lol.

Any truck driver@ 20yrs of age putting away £100month into a WELL MANAGED SIPP pension with the Gov topping up by 20% FOR FREE.
Then in turn sensibly increasing his contributions over time should after 40yrs have a fairly nice wee nest egg built up but it does need that TIME.
Nobody can make a fortune over the short term in order to retire@ 60yrs!!! Not true, “Some” people can, but “Most” don’t. Most is not the same as “Nobody” here.
We all think in different ways, and come up with an investment plan in as many different ways as there are stars in the sky as well…
Personally, I like to pick stocks that won’t go bust, unless they get nuked, in which case I won’t be here to care that I lost my shirt on that investment…
I don’t invest in companies that have a crap balance sheet, essentially… “Trading on debt” is high-risk - and always has been.

Sent from my SM-A125F using Tapatalk

…But But - a well-managed SIPP means you’re a dab hand at playing the markets yourself - don’t it?
Or which part of SELF invested Pension Plan - did I not understand here? [emoji14]

All I’d do “DIY” would be to build a portfolio containing 52 different shares paying yields of 3% and better in dividends either once or twice a year.
Pick shares so you end up with a dividend cheque literally every week.
You’re “measuring twice, cutting once” here, since once you’ve bought your entire portfolio - you’re going to sit on it indefintely, because you’ve bought it for the dividend income. You don’t have to worry if the shares go up or down, as you can always switch if one share goes up a lot for no reason, or buy some more if a share goes down for no reason, i.e. the normal day-to-day moves of the stock market as whole, creat buying and selling opportunities nearly every day, and you don’t have to micro-manage your portfolio in front of a dealing screen all day long, since the dividends themselves are only going to change once in a blue moon anyways…

You’ll only need to buy a single copy of the Financial Times as well, to get your initial picks in.
Try to make “D Day” the day when you buy the entire portfolio - a day when the market makes a decent move down for no reason affecting any particular sector, Eg. a crash, flash crash, or “bad economic data” day.

Investment Funds and paying a Fund Manager a small % charge to do all that above crap has done me good enough over the years.
Think about it,
having a global wide exposure to “risk” means even in the early hours of Christmas day there’s somebody in an office other side of world trying to make me money 24/7 365.

“If it ain’t broke don’t fix it”!!!

Sent from my SM-A125F using Tapatalk

[commonrail]

Had an email off HL,the other day…saying lindsell train funds have been taken off their"top picks" list.
I’m not one for swapping and changing…but this HAS cost me,in the past.

Remember Neil Woodford?

[jeffa]

Big Truck:

Winseer:

Big Truck:
Just for “JeffA”:

Looked up my HL app ref my SIPP pension.

Have mixture of twelve investment funds contained in portfolio and the three best performing so far are:

“FTF Martin Currie” bought 2010 448% gain.
"Lindseltrain Global Equity bought 2012 100% gain.
“Stewart Investors Global Immerging Markets” bought 2008 225% gain.
Eight of the others are in double digit % gains.
Single one is an 8% loss but was only invested in 2020 so time enough yet!!!
But investments been crap past 15yrs!!!
Lol.

Any truck driver@ 20yrs of age putting away £100month into a WELL MANAGED SIPP pension with the Gov topping up by 20% FOR FREE.
Then in turn sensibly increasing his contributions over time should after 40yrs have a fairly nice wee nest egg built up but it does need that TIME.
Nobody can make a fortune over the short term in order to retire@ 60yrs!!! Not true, “Some” people can, but “Most” don’t. Most is not the same as “Nobody” here.
We all think in different ways, and come up with an investment plan in as many different ways as there are stars in the sky as well…
Personally, I like to pick stocks that won’t go bust, unless they get nuked, in which case I won’t be here to care that I lost my shirt on that investment…
I don’t invest in companies that have a crap balance sheet, essentially… “Trading on debt” is high-risk - and always has been.

Sent from my SM-A125F using Tapatalk

…But But - a well-managed SIPP means you’re a dab hand at playing the markets yourself - don’t it?
Or which part of SELF invested Pension Plan - did I not understand here? [emoji14]

All I’d do “DIY” would be to build a portfolio containing 52 different shares paying yields of 3% and better in dividends either once or twice a year.
Pick shares so you end up with a dividend cheque literally every week.
You’re “measuring twice, cutting once” here, since once you’ve bought your entire portfolio - you’re going to sit on it indefintely, because you’ve bought it for the dividend income. You don’t have to worry if the shares go up or down, as you can always switch if one share goes up a lot for no reason, or buy some more if a share goes down for no reason, i.e. the normal day-to-day moves of the stock market as whole, creat buying and selling opportunities nearly every day, and you don’t have to micro-manage your portfolio in front of a dealing screen all day long, since the dividends themselves are only going to change once in a blue moon anyways…

You’ll only need to buy a single copy of the Financial Times as well, to get your initial picks in.
Try to make “D Day” the day when you buy the entire portfolio - a day when the market makes a decent move down for no reason affecting any particular sector, Eg. a crash, flash crash, or “bad economic data” day.

Investment Funds and paying a Fund Manager a small % charge to do all that above crap has done me good enough over the years.
Think about it,
having a global wide exposure to “risk” means even in the early hours of Christmas day there’s somebody in an office other side of world trying to make me money 24/7 365.

“If it ain’t broke don’t fix it”!!!

Sent from my SM-A125F using Tapatalk

Not sure they are trying to make you any money - they charge fees to manage funds but index tracking with nobody managing it always gives far better returns.

Got my scottish widows statement - my pension dropped £100 over the last 12 months. And they still took their charges out of it. And you cant touch any of the momey for years. Dont get a pension get an isa.

[rog]

I found something interesting recently
I contracted out of SERPS
35 years of NI gets me a reduced state pension
By doing another 5 years of NI gets me a full state pension
Not sure if getting more than 40 years NI increases that but it seems not from what I read

[franglais]

ROG:
I found something interesting recently
I contracted out of SERPS
35 years of NI gets me a reduced state pension
By doing another 5 years of NI gets me a full state pension
Not sure if getting more than 40 years NI increases that but it seems not from what I read

I assume you have used this?
gov.uk/check-state-pension
That will tell you, your personal situation.

If you have paid 35 years of qualifying contributions NI, by retirement age, then you receive the full state pension. Extra years do not boost the amount you receive.

MSE guide here.
moneysavingexpert.com/savin … nsions/#ni

I`m open to correction, of course.

[rog]

Franglais:

ROG:
I found something interesting recently
I contracted out of SERPS
35 years of NI gets me a reduced state pension
By doing another 5 years of NI gets me a full state pension
Not sure if getting more than 40 years NI increases that but it seems not from what I read

I assume you have used this?
gov.uk/check-state-pension
That will tell you, your personal situation.

If you have paid 35 years of qualifying contributions NI, by retirement age, then you receive the full state pension. Extra years do not boost the amount you receive.

MSE guide here.
moneysavingexpert.com/savin … nsions/#ni

I`m open to correction, of course.

yes I did use that and yes it does boost the pension to full if contracted out of serps

[winseer]

ROG:
I found something interesting recently
I contracted out of SERPS
35 years of NI gets me a reduced state pension
By doing another 5 years of NI gets me a full state pension
Not sure if getting more than 40 years NI increases that but it seems not from what I read

If you have a personal tax account, accessible on-line, you’ll be told within the website if you qualify for the full, or reduced state pension.

Having worked Agency between 2011 and 2018 with a small 4 month (sabbatical) gap between me leaving RM and starting at Blue Arrow back in 2011, I was worried that I might have inadvertantly trashed my full pension entitlement…
Not so, however.

It seems I’ve paid enough NIcs since to more than make-up the gap.

Such is the benefit of insisting on PAYE agencies ONLY as I did.

I don’t do “Cash-in-hand” work, nor Ltd, nor “Pseudo PAYE” with their crappy umbrella. I was only at Blue Arrow a few weeks before I realized they were charging me £27 a week “salary sacrifice” fees (Umbrella), which wasn’t paying - because I was only working part time hours!

[big_truck]

JeffA:

Big Truck:

Winseer:

Big Truck:
Just for “JeffA”:

Looked up my HL app ref my SIPP pension.

Have mixture of twelve investment funds contained in portfolio and the three best performing so far are:

“FTF Martin Currie” bought 2010 448% gain.
"Lindseltrain Global Equity bought 2012 100% gain.
“Stewart Investors Global Immerging Markets” bought 2008 225% gain.
Eight of the others are in double digit % gains.
Single one is an 8% loss but was only invested in 2020 so time enough yet!!!
But investments been crap past 15yrs!!!
Lol.

Any truck driver@ 20yrs of age putting away £100month into a WELL MANAGED SIPP pension with the Gov topping up by 20% FOR FREE.
Then in turn sensibly increasing his contributions over time should after 40yrs have a fairly nice wee nest egg built up but it does need that TIME.
Nobody can make a fortune over the short term in order to retire@ 60yrs!!! Not true, “Some” people can, but “Most” don’t. Most is not the same as “Nobody” here.
We all think in different ways, and come up with an investment plan in as many different ways as there are stars in the sky as well…
Personally, I like to pick stocks that won’t go bust, unless they get nuked, in which case I won’t be here to care that I lost my shirt on that investment…
I don’t invest in companies that have a crap balance sheet, essentially… “Trading on debt” is high-risk - and always has been.

Sent from my SM-A125F using Tapatalk

…But But - a well-managed SIPP means you’re a dab hand at playing the markets yourself - don’t it?
Or which part of SELF invested Pension Plan - did I not understand here? [emoji14]

All I’d do “DIY” would be to build a portfolio containing 52 different shares paying yields of 3% and better in dividends either once or twice a year.
Pick shares so you end up with a dividend cheque literally every week.
You’re “measuring twice, cutting once” here, since once you’ve bought your entire portfolio - you’re going to sit on it indefintely, because you’ve bought it for the dividend income. You don’t have to worry if the shares go up or down, as you can always switch if one share goes up a lot for no reason, or buy some more if a share goes down for no reason, i.e. the normal day-to-day moves of the stock market as whole, creat buying and selling opportunities nearly every day, and you don’t have to micro-manage your portfolio in front of a dealing screen all day long, since the dividends themselves are only going to change once in a blue moon anyways…

You’ll only need to buy a single copy of the Financial Times as well, to get your initial picks in.
Try to make “D Day” the day when you buy the entire portfolio - a day when the market makes a decent move down for no reason affecting any particular sector, Eg. a crash, flash crash, or “bad economic data” day.

Investment Funds and paying a Fund Manager a small % charge to do all that above crap has done me good enough over the years.
Think about it,
having a global wide exposure to “risk” means even in the early hours of Christmas day there’s somebody in an office other side of world trying to make me money 24/7 365.

“If it ain’t broke don’t fix it”!!!

Sent from my SM-A125F using Tapatalk

Not sure they are trying to make you any money - they charge fees to manage funds but index tracking with nobody managing it always gives far better returns.

Got my scottish widows statement - my pension dropped £100 over the last 12 months. And they still took their charges out of it. And you cant touch any of the momey for years. Dont get a pension get an isa.

I have an ISA but there’s management charges too with it but they’re all quite a small %.
I much rather prefer the Gov putting in the £30month extra for free in my SIPP plus the 20% to be claimed back via SA if go into higher tax bracket.
It’s the exact same investment funds available via an ISA!!!

Sent from my SM-A125F using Tapatalk

[big_truck]

commonrail:
Had an email off HL,the other day…saying lindsell train funds have been taken off their"top picks" list.
I’m not one for swapping and changing…but this HAS cost me,in the past.

Remember Neil Woodford?

Yes Neil Woodford was the exception to the rule a VERY well respected/followed Fund Manager.
Bit of irony but what ruined him■■?
STOBARTS!!!

I read the email ref Linseltrain but it’s more to do with them having invested in HL via their funds and “conflict of interest” they say.
Yes they mention about “gung ho” mentality but their funds have done well in past and they do majority invest in blue chip companies for the long term etc etc.
Will hold onto mine for while longer yet.

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