SIPP pensions

[BoniO]

Like many of us, my last few jobs didn't have an old fashioned company scheme and my pension contributions went into a SIPP. I'm now taking the bulk of my pension as a drawdown from that SIPP.

Question to the money men on this forum. In the current market conditions what would you do to protect the capital whilst also providing a monthly pension? How would you breakdown the investments?

Genuine question. I've read up on this over the years, taken advice but I'd be very interested in the opinions of those in the know.

Cheers.

[Dunners]

There's some very knowledgeable bods who offer decent financial suggestions on here: https://forums.moneysavingexpert.com/fo ... y.php?f=17

One or two on here may be able to help but I reccomend asking your question on there too.

[BoniO]

There's some very knowledgeable bods who offer decent financial suggestions on here: https://forums.moneysavingexpert.com/fo ... y.php?f=17

One or two on here may be able to help but I reccomend asking your question on there too.

Thanks Dunners. I'm just interested in how some on here may view the current World market conditions and if they'd apply any specific changes to their investments because of these conditions. I'm a non-Finance person and doing OK so far but it seems very volatile out there at the moment. If anyone can pinpoint when the next recession will hit then that would be dandy! TIA!

[EliotNes]

I’m not a finance professional but I look After my money and the answers u want r probably in the links mentioned above but for what it’s worth:

One can take 25% out of the SIPP account tax free.
If u don’t have or have not made contributions to an ISA for the last 2 tax years I’d put the maximum possible into an ISA for each of u and your other half if u have one.
Pay off any debts eg mortgage.
Annuities have been largely forgotten about since George Osbourne changed the rules about 5 years ago but there is a school of thought that putting part of a SIPP into one is good value.
Don’t forget Premium Bonds.
And don’t forget to keep an eye on what is happening to your money as circumstances change e.g. a change of government, Brexit etc
Just some thoughts which I hope helps. Good luck.

[Max B Gold]

Put it all on Orient Forever in the 3.30 at Pontefract.

[BoniO]

Put it all on Orient Forever in the 3.30 at Pontefract.

If the nag had been called Orient Forever Sh*t I'd have gone for it. Coincidentally, I drove through Pontefract yesterday......

[Max B Gold]

Put it all on Orient Forever in the 3.30 at Pontefract.

If the nag had been called Orient Forever Sh*t I'd have gone for it. Coincidentally, I drove through Pontefract yesterday......

It's a sign. Put the pension on and get as many loans as you can and lump that on too.

[Dunners]

Where's Paulie Walnuts when you need him?

[Max B Gold]

Where's Paulie Walnuts when you need him?

Debtors Prison. Something to do with gambling debts.

[BoniO]

Where's Paulie Walnuts when you need him?

Well he's not at Pontefract cos there's no meeting there today. It's almost like Max was making it all up or something!

[Ronnie Hotdogs]

Invest as much as you can in tinned food and guns, any surplus in gold.

[tuffers#1]

I know a lot of people dont rate them , but arent Unit Trusts the safest way to invest being that the government is , by law responsible for 95% payouts/ reimbursement if they ever went t*ts up ?

[Still's Carenae]

I know a lot of people dont rate them , but arent Unit Trusts the safest way to invest being that the government is , by law responsible for 95% payouts/ reimbursement if they ever went t*ts up ?

Tuffers - this is not correct, unless the company goes under. Any losses you make through the price dropping cannot be claimed back. Your capital is always at risk.

[BoniO]

Invest as much as you can in tinned food and guns, any surplus in gold.

For a flippant comment, I can see a lot of sense in this. Add internet medicine suppliers and it could be a winning formula.

[tuffers#1]

I know a lot of people dont rate them , but arent Unit Trusts the safest way to invest being that the government is , by law responsible for 95% payouts/ reimbursement if they ever went t*ts up ?

Tuffers - this is not correct, unless the company goes under. Any losses you make through the price dropping cannot be claimed back. Your capital is always at risk.

Thats what i meant by tits up .

I didnt make that bit clear .

[Thor]

Where's Paulie Walnuts when you need him?

I was watching a you tube video the other day of his funniest sayings. Quality character, quality actor and a great tv show.