Better purely from a tax perspective. Not just trusts, any investment that falls under general tax principles. Especially if you think it's something you're going to buy and forget for the long term. Like some of the companies @Gordon Gekko suggested above as part of a portfolio either / as well.So the trusts are a better idea than standard life ? Those two are the ones in most interested in I think
Why do you keep referring to Standard Life specifically?So the trusts are a better idea than standard life ? Those two are the ones in most interested in I think
I’m sure you do, but what is your ambition here ?if you are maxing pension contributions and expect to max the pension threshold what is your investment ambition ? To have further funds available at retirement (for what ?), to leave large amounts to your kids ?Luckily I have a decent salary
Yeah to have more available cash to help me retire early in about 20 years. Plan is to spend it all then in retirement . My pension is low enough, I'm playing catch up with thatI’m sure you do, but what is your ambition here ?if you are maxing pension contributions and expect to max the pension threshold what is your investment ambition ? To have further funds available at retirement (for what ?), to leave large amounts to your kids ?
Fair enough that sounds like a plan, but don’t save it all for retirement , make sure you do the things you want along the way , good luckYeah to have more available cash to help me retire early in about 20 years. Plan is to spend it all then in retirement . My pension is low enough, I'm playing catch up with that
That makes no sense at all.Fcit has returned 30% over last 5 years, that's 6% a year. When you take into account costs, currency and CGT there is almost nothing left
^^^^^^. This is excellent advice to remember. Watch your health too OP.Fair enough that sounds like a plan, but don’t save it all for retirement , make sure you do the things you want along the way , good luck
That was quick for such a significant decision.I think I'm going to go with 1k per month into fcit and just let the rest build up in the bank. Thanks all
Because they have a vanguard global fund that's 0.9% per annum, that's the cheapest out there I believeWhy do you keep referring to Standard Life specifically?
Why notThat makes no sense at all.
I pay 5% with 20% avc with a company top up of 7% so 32% every month goes into my pension. I'm certain of thatThat was quick for such a significant decision.
Are you absolutely certain that you are maxed out on pension contributions ? Have you spoken to a good pension consultant or two and got confirmation of this ? You’d be amazed the number of HR people who “administer“ company pension deductions who have a very poor understanding of what’s actually possible, or who don’t want the hassle of anything beyond x% based on your age.
Your limit is related to your contribution you can ignore the employers , assume you are aware but just in case you aren’t.I pay 5% with 20% avc with a company top up of 7% so 32% every month goes into my pension. I'm certain of that
I'm 43
Yeah, but they are paying the max for their ageYour limit is related to your contribution you can ignore the employers , assume you are aware but just in case you aren’t.
Yep, 25% is max for me for tax benefitYeah, but they are paying the max for their age
Ah sorry I was thinking that the max is 25 percent of 115k but if you are earning less then you can only pay 25 percent of your salary ?Yeah, but they are paying the max for their age
No. But investing outside a pension wrapper without first stuffing your pension and paying down debt doesn't make much sense.Most people seem to hint that investing outside the pension wrapper just isn't worth it. Is that the case ?