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The new standard of living calculations have increased by around 40% since this video came out 2 years ago 😳

Hall Sarah Smith Anna Martinez Patricia

I cam across something of intrest which i will share I am a landlord own a lot of investment properties in my own name the first one is debt if you remortgage the debt is offset against IHT so you can remortgage and just spend the money or gift it away 7 year rule the next thing i have found is with Land and property the estate wheich is inherited can pay the IHT over 10 years HMRC will charge intrest but it allowed the estate to remain in place and the rental income can pay the IHT

A friend of mine is an asylum seeker living in a hotel.. Will they get a state pension as well?

Inheritance tax?

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This is in USA?

£100,000 pot will give you bugger all income!

There are platforms which have 0 fees and you charge £12 each month

Labour trying to do away with state pension if you have a private pension or own 100percent of your home

Labours going to put it up to 55 % Scumbags well done to all you voted for them

Well presented--but absolutely nothing new. Why repeat the same advice given several hundred times every day online and in the press? The truth is this--there is NO magic 'silver bullet'. Cash in , buy or create a ltd company trading business--and after 2 years trading, THAT is as near as you can get to keeping your hard earned cash. Trusts? Go on--go down that line and faint at the fees and up front tax payable on your properties and savings! If you are over 60--it's simply uneconomical. So Helena--the best advice you give is the obvious one--Make a will--then spend now and create memories--and forget the rest! Peace and a long life to you all.😇

I thought Tories were about self improvement. I don't believe in inherited wealth , I believe in earning my own money. Just remember 4% pay inheritance tax and your dead when you pay it you pricks.

Great info , many thanks 🙏

I am 44 single have no kids. I have only £25K in my workplace pension pot due to being on low salary for 6 years before 2021. Now i am contributing £2500 a month into it trying to catch up. My goal is to generate £200K till i retire. I have only £20K balance on my mortgage. Thanks for the video.

There is no gender pay gap for exactly the same jobs.

Thank you for a very helpful & easy to follow video. I have subscribed.

Finding AVIVA very restrictive. I stopped ongoing advice due to cost and because of this they don’t allow phased drawdown! What’s the point of having a SIPP. Would steer clear until they address this.

Annuity income rates drops if you factor in inflation rise each year, otherwise you receive this fixed amount for life.

Gender pay gap - gender lifestyle choices

I have always assumed I just draw down the money from the pension provider…..is that not right?

I tried to open an account but was only given the option to transfer to vanguard?

Do you think with £1m pension and say 100k in cash a couple, it is possible to retire at 58yo on 50k a year, when wife will draw say 8k pension 2 year later, and full state pension kicking in at 67x2? Not sure whether I’ll have enough to retire at 58 and get my goal of 50k (no way will I draw more and pay 40% tax, I’m sick of paying 45% now)?

Why are people so optimistic that they will actually live long enough to benefit from 20 or 30 years of pension drawdowns. At 80 most people die or are too frail to do anything meaningful. So bear that in mind when running such calculations. Having some money left over when your dead will do you no good whatsoever

I miss this lady she was brilliant

The predicted income needs seem to assume that you own a property. How much income would you need if you were renting?

How do I check if I am getting my full pension

take the cash, buying a plan is a rip of unless u live to 100, and even then s&p pays more over year.

I’m in the same position

I think with only a 100k pension pot it becomes vitally important to be mortgage free, debt free and also still working part time to supplement your pension income.

A con to watch out for if you claim benefits. Your benefit entitlement letter and leaflets will say you get a NI credit for each week you claim the benefit but what they do not tell you if you do any work you do not get this credit. You find out a few years latter when you get a letter to say you do not have sufficient contributions for that year and if you want it to count you need to pay x amount of £s. I got caught out on this when I did agency work. Some weeks I would only have work that paid below the NI bracket so the DWP did not give me a credit. I appealed and got no where that is why when I am unemployed I do no agency or any job that pays below the national insurance bracket. Stupid as the Job Centre is encouraging you to take up part time work and building up your hours but at the same time jepodising your State Pension. Like my ex husband use to say you are in the system or you are not and you can get halfway between.

I will have a full state pension when I retire at 66 years and 9 months in 2027. Most of my working career I paid into Occupational Pensions so was contracted out of SERPs. With the new single tier state pension that came in April 2016 I found I needed 42 years to qualify and not 35 due the years I was contracted out. I found this annoying as us with Occupational Pension save the Goverment money as our entitled to means tested benefits reduces and in some cases we get no means tested benefits as all. Also us with Occupational Pensions Pay Tax.

How about telling us what the minimum state pension is ie 10 years of NI contributions as some may only have paid in for 10 years

Im old enough to remember the winter of discontent . Inflation hit 18% in 1980 (UK). I don't expect it to get that high again but it can go well over this 3% people keep throwing around. Maybe im missing something but what possible reason is there to spend a £200,000 pot to take £16,000 a year for a decade? (total£160,000)

There is no substitute for putting the effort in to understanding and controlling your own expenditures and your various sources of income. This approach is simplistic and misses out the importance of understanding and controlling expenditure

If I want to give my Sister and her family £10,000 each will they be libel to pay tX on this ,

Trying to plan ahead - inherited my wifes family home and it was seperated between me,my wife and my son . We have listed it as tenants in common and both named our son as the beneficiary of the deceased section of the ownership . Is this taxable - bearing in mind that the survivor doesn’t own the part that the deceased has left ! We have done the same with our main home - does tenants in common alter the validity of our main home claim ?

Thank you for posting this is very realistic

The FAs i have met want to charge me 1% for the pleasure of transferring my hard earned into their platform, 1-2 thousand pounds for setup fees and 1 to 1.5% per year incl fund costs for the pleasure of putting my money in tracker funds. Thanks but no thanks!

Easy to say 60, but many are still paying off mortgages at 60.

Pension millionaires are normally either one or both of the following: (1) those lucky enough to have a very good defined benefit scheme and (2) those who started working at 16/17 and have built up massive funds over time.

In the UK u will always pay tax even when you’re dead

Great information as always. Thank you. 👍🏆

It's disgusting how the Govt tells us how much we can gift out of our own money which has already been taxed.

Great Video Helena. I'm pushing for £3m in retirement split between a company pension, SIPP and Stocks and shares ISA. So important to have big audacious goals. Compound interest by way of regular investing and re-investing dividends can really build up over time to impressive amounts. Less than 30 days ago My whole portfolio was hovering around the £300k mark but with a nice upward trend over the last 3 weeks, before I know it I'm at £330k...£30,000 in 3 weeks! Blew me away to be honest. Just keep plugging away, the increases can seem small and insignificant in the beginning when the majority of your growth is coming from your own cash deposits. once you reach £100k though, a decent couple of days or weeks can add more to your wealth than a whole years worth of savings deposits. I personally invested £19k of my hard earned salary last year, for the whole year. In less than two months I should double that amount in growth!. It can seem like nothing is happening in the beginning, I certainly thought that when I was at £50k invested and that was only 11 years ago. All the best Everyone, you can do it. Just keep going and always PAY YOURSELF FIRST. Adam: @destinationwealth1 th-cam.com/channels/5WyrafveS4hg7yNiu4xdKQ.html

Where did you go to? Lost it all and got a job?

Great information. Thank you very much

Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?

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Appreciate the guidance, the analysis step is especially helpful. Great advice, move forward and don't allow paralysis to set in, thank you.