I hate this about investing 

"Mrs Cynthia Wilson made me a millionaire". Why do they always use women's names in those emails ?

I wouldn't even give them the satification of calling it investing

The best I’ve heard is my new car is a brilliant investment… 😂🤦‍♂️

Nice - helpful!

The ridiculous thing about pensions is the rules keep changing. How is anyone meant to plan their pension/retirement when the annual and lifetime allowances keep changing? The lifetime allowance is now abolished, but the next Government can just as easily reinstate it. That being said, breaching the previous lifetime allowance and facing a tax bill was unlikely for the vast majority of people on NHS pensions. It shouldn't be something anyone has to think about though! Not to mention, unlike a defined contribution pension, you can't access your full NHS Pension until age 68 unless you take an early withdrawal penalty. Best bet is to have an ISA and your own SIPP alongside the NHS pension, which you can access at an earlier age. Obviously the problem with opening a SIPP is that if the pension lifetime allowance gets reinstated, there is a strong chance NHS pension + SIPP will breach it. So, there is no easy solution. Rant over as a fellow NHS employee 🙃

Fees based on a % rather than effort required are the pits. For transactional things such as setting up an ISA and managing a transfer, it should be possible to quote a fee in advance, before they even learn how much you've got.

5% blimey!

2% is absolute daylight robbery...

Thanks Adrian some nice ideas there will have to work out a backtest I can show. Thank you for your great contribution in the comments section btw

Very wise regarding your pension - I ignored mine for twenty five years and how little it was worth when I finally took a look was a big shock. A disgrace how poorly it has performed during the longest Bull Run in history.

I also work for the Royal Mail and have done for over 20 years. Once a year you can request a transfer out figure from the Pensions Team - it is quite a thick document that gives a good breakdown. The latest scheme appears to be invested in cash, not compounding assets such as stocks. I intend to get out in a few years and transfer out whatever I can because the CAGR (compound annual growth rate) is diabolical, from what I can see.

@@seamus7054Yeah I’ve been with them 6 years now, received a document stating how much was in there currently and how much would be there at age 60 so in 30 years time, initially it sounded like quite a lot but plugging the numbers into a simple compound interest calculator doesn’t make for good percentages baring in mind I’m at the top tier of contribution and what a simple stocks and shares ISA could achieve over 30 years with a conservative 6-7% return!

Good luck getting someone to sign up for that lol. But I think surely we need a better way to

No it doesn’t stop any compounding.

All in bro to the moon! lol

Thank you Sandra!

They are designed to de-risk through what's called lifestyling. Essentially as the retirement date approaches, you see your equities % reduced and bonds % increased. This method is really for those who will convert their pot to an annuity, as they need to be de-risking in the period before converting to an annuity. It's not really a design for people who want to use drawdown. A lot of people use them not realising this, and it's really quite fundamental. I do not use them, and would not use them by choice*. And that's the case even if I did want an annuity. This is because I can more cheaply run a passive portfolio than those Vanguard TR funds. I can also do my own rebalancing in a sensible way, without having the imposition of having to have pretty much a set % and be selling/buying too frequently. Vanguard are popular and I do use some products. But they're actually not the cheapest in many cases, nor are their products even that well performing in some cases. *If I had a workplace pension which only offered a lifestyling fund, I would want to pay into it to at least maximise my employer matched contribution. But what I would do is to set the retirement date in a way that matches my risk appetite. So, if I don't want them to move me to bonds too quickly for my taste, I set my retirement date later than whatever it is currently set to. (The opposite would be true if you actually wanted to be put into bonds sooner than what your existing retirement date would do). All that said, like the Lifestrategy ones, these products are not 'wrong' so to speak and may be fine IF people understand what they are for, their pros and cons, and if they match their goals. They are just not for me.

In the UK, the average life expectancy of a 48 yo male is 84, with a 25% chance of reaching 93. Thus, even though you've started late and the contributions being made to invest will need to be higher than they would be if you started earlier (to get the same result), there are many years left to grow your investments. Secondly, because pensions are now very flexible, you don't reach a set age and HAVE to convert it to an annuity (though you can, if you want). Thus, while you've missed out, you have plenty to gain going forward. The principles remain the same - know your risk appetite, know what your target is and contribute accordingly, and realistically, to reach that target.

Yes. I spent a lot of time playing around with a compound interest calculator to come to a monthly amount to put away towards investing. It’s been an eye opener and made me rethink and reorganise my finances but I feel more confident in the future now 😅

@@luisricardo13 Good for you. The important thing is to focus on what can be done so you've done that. Most who didn't begin by your age never do, sadly. But there is a point to it and you'll put yourself into a better position. Good luck.

Thank you kindly

To the mooonnnnnnnnnnn

Personally when you go and invest in yourself this is the ONLY time that I can say going all in is fine.

Glad you enjoyed it

I never me understood how he ended up with so many by the end

@@TobyNewbatt I think it mainly cake down to continued research and the much more appropriate valuations of companies in the 80s when compared to today.

Your views on crypto are ignorant. I paid off my mortgage at 29 years old with Bitcoin profits. Spend 100 hours learning about crypto and then form an opinion.

@@juliat50 you say my views on Crypto Currency is ignorant, Bernard Madoff managed to convince people what a good Ponzi scheme that lost its investors $65 billion, admittedly Crypto is valued at about $2 trillion, Crypto is dependent on what someone else is willing to pay for it, Crypto is not like Microsoft or Amazon that produces things that people can actually use or even find useful. Actual currency is backed by the country that issued it, Crypto is mined by companies whose aim is to make a profit from it & it very value is volatile to make longtime planning, other Crypto Currency holders with big stakes have a self invested interest to get other people to buy it. I am happy being ignorant about Crypto Currency, I would never be an investor in it.

Cheers Finn!

Past performance was good but I bet a lot of people chased it and are down on their money. Recent performance is not 1% worth in my view

Nothing grinds my gears more 😂

👊😎

Good for you recognising the value of the NHS scheme and thanks for working in something so many of us rely on throughout our lives.

Many thanks and also good suggestion for another video

Investment professionals invest other people's money, so they don't really experience the consequences of their research. I have a friend who is one, and his own money is just in index funds (and he has quite a lot of it, being an investment professional of course)

I’m a new man 😁

@@TobyNewbatt Honestly, the women in our lives never quite grasp how happy and content a bl**dy good moan about the world makes us feel!

Cheers Ari

It’s me without sleep just ask my girlfriend 😂

Oh god….

Defintely worth a mention, i'll have to slip that into a video maybe around the new tax year as a reminder of the new limits of capital gains and dividends :)