After a DB scheme wind up I'm left with €290k to be either invested or used to mature and retire early. I'm 57, unemployed but currently exploring employment options, have no debts, own my own home and enjoy a simple undemanding lifestyle.
I don't want to 'retire' early so I'm thinking I have only a few options.
The trustees have set up a buy out bond with an additional 1% top up and AMC of 0.55% if held for two years.
Other than buying an Annuity or ARF (which i don't want yet) is the buyout bond (although not necessarily with trustees default option) my only option. I'd rather leave the figure to continue to grow.
A financial adviser will cost about 1500 but will he/she be worth it if my only option is some form of buy out bond. I think the trustees default option sounds ok and I don't mind being penalised (after all they are offering 2,900 as an incentive) if I had to mature it within the two years.
Is this approach wise or just stupid?
I don't want to 'retire' early so I'm thinking I have only a few options.
The trustees have set up a buy out bond with an additional 1% top up and AMC of 0.55% if held for two years.
Other than buying an Annuity or ARF (which i don't want yet) is the buyout bond (although not necessarily with trustees default option) my only option. I'd rather leave the figure to continue to grow.
A financial adviser will cost about 1500 but will he/she be worth it if my only option is some form of buy out bond. I think the trustees default option sounds ok and I don't mind being penalised (after all they are offering 2,900 as an incentive) if I had to mature it within the two years.
Is this approach wise or just stupid?