[shina]

About time i sorted out another pension. The one I have will give me £10 a week when I retire so i need to sort things out now

Whats the best pension for us windys? I know its a personal pension but which company?

Steve

[elite mike]

dont bother they are all rubbish ,

put any spare money you have into isas or property

after paying in for over 30 odd years its rubbish 

like chucking your money away every month 

[king marko]

Am I a bit daft in considering my business as my pension?
When I get to the age I want to pack up, I'll either flog it, or better still, if i can find someone decent, sub it out and take a wage

[g.brookes]

mark i would consider your business a bonus when you retire.  the value of rounds varies drastically year to year, you may get a years value one time, or 1 months value another time.  Plus, obviously this is a guess but in 10, 20 years time we may well have really good working self cleaning windows.   Its also entirely possible that there will be cheaply enough made robots for those cleaning tasks (there are already versions of those for sale).
i know this may be laughable to some, but i would never consider this business on solid ground in the long run.  Hell there may even be a large scale war etc (i realise this could also affect pensions and savings) but the point im making is just not too get too complacent thinking your business will look after for for the 20/30/40 years after you retire

[britishwill]

I pay £300 a month into a pension and really I should be paying 3 times that amount if I want an average pension. They are basically rubbish in my opinion. I am stopping mine and investing in ISA/little flat if I can.
Remember if you invest in a pension you could walk away with nothing at the end. My mate lost £35k in his.
Anyway this is not the time to be talking about pensions as the stock market is down and there is more or less a global recession. Pensions will be crap but in 20 years time?? Who knows....

I have never heard people with a pension saying, "I have a great pension it really has paid out well! The only people that get them are the police, doctors etc etc

[keyser soze]

mark i would consider your business a bonus when you retire.  the value of rounds varies drastically year to year, you may get a years value one time, or 1 months value another time.  Plus, obviously this is a guess but in 10, 20 years time we may well have really good working self cleaning windows.   Its also entirely possible that there will be cheaply enough made robots for those cleaning tasks (there are already versions of those for sale).
i know this may be laughable to some, but i would never consider this business on solid ground in the long run.  Hell there may even be a large scale war etc (i realise this could also affect pensions and savings) but the point im making is just not too get too complacent thinking your business will look after for for the 20/30/40 years after you retire

lol seeing a robot climb a ladder with a squeegee or getting the wfp out ... cant wait

[Perfect Windows]

Anyway this is not the time to be talking about pensions as the stock market is down and there is more or less a global recession.

That advice is the exact opposite of the correct advice, I'm afraid.  Why on earth would buying anything while it's cheap (in this case, shares) be anything but a good idea?


Don't take my advice, I'm just a window cleaner.  Listen to Warren Buffet, the richest investor in the world:

"A short quiz: If you plan to eat hamburgers throughout your life and are not a cattle producer, should you wish for higher or lower prices for beef? Likewise, if you are going to buy a car from time to time but are not an auto manufacturer, should you prefer higher or lower car prices? These questions, of course, answer themselves.

But now for the final exam: If you expect to be a net saver during the next five years, should you hope for a higher or lower stock market during that period?

 Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. In effect, they rejoice because prices have risen for the "hamburgers" they will soon be buying.

This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices. "


Vin

[britishwill]

Vin

 You are right. I did not say do not invest in a pension. I said you should be investing more in a pension!

I have decided not to continue with a pension as my faith in the city/shares etc has been shaken and I do not believe it is a sound investment that I want to take. There are others that will disagree, like you, but I know where you are coming from it makes sense but its the banks and the state on the economy that rips away at our pensions and in 10 years I have just less than I put in and thats on a moderate risk pension...At least with an ISA you know where you are.

[G Griffin]

Get your pension money with Robert Maxwell.

[dd]

What is the difference between an ISA and a pension? With a pension you get 20% or 40% tax rebate on contributions (depending on your tax rate rate), with an ISA you do not.. You can invest in broadly the same range of funds with an ISA as with a pension.

Investing in property e.g. buy to let is IMO a good idea but most of us do not have the money to do so.

Surely it is better to invest in the stock market when it is down rather than when it is up.

[shina]

The thing with Pensions is that the government top it up by 20% but is taxable when you take it out. An ISA is not taxed but you have to make sure you never touch it. Thats ok until you need a new van.

From looking into this I have been advised that the best option is to save in both

[tompoole]

It's pot luck with pensions I'm affraid some perform better than others
Invest min of £500 per month in a managed fund and you may
Get something half decent..... Or buy a 2 ed apartment
£100-£150 k and this will provide an income through rent. Either
Way to achieve a good pension or income when you retire
Requires putting a large sum away now , there are no quick
Or cheap short cuts. I put £100 a month in a pension for over 20 years
Thinking it was enough but it's not . Personally I'd go for property
It's more risky but you can access your money when you want...

[Londoner]

dont bother they are all rubbish ,

put any spare money you have into isas or property

after paying in for over 30 odd years its rubbish 

like chucking your money away every month 

Absolutely right. They are a con.  You pay in all that money over all those years and what you get back is more or less the interest. You can never get your hands on the capital or leave it to your family to benefit from after you have gone.

[Erithwc]

i don't like pensions you need to pay alot in for little return my plan is to use my business as a pension.

I do have life and health insurance costs me £17.99 per month and im covered for broken bones loss of sight legs ect but my wife and kids will get £126000.00 if i die before i reach 70 years of age.

Worth having i think if you don't own a home outright to leave your kids  

Paul

[Mike #1]

I have paid into a pension for about 5 yrs now and it has'nt done to bad i can monitor mine online it is outperforming any isa with an intrest rate of about 2%

My pension is current performance rate is 9.6 % the best it has done is 17 % .
I have always had doubts about pensions because of the financial crisis over the past few years .

But longterm i know i need to put more money in my pension to give me an income for when i retire or semi retire . If i am fit enough i will a few 1/2 days a week hopefully thanks to WFP .
I know i wont get a state pension till i am 67 unless the goverment change things again . Mike

[elite mike]

I have paid into a pension for about 5 yrs now and it has'nt done to bad i can monitor mine online it is outperforming any isa with an intrest rate of about 2%

My pension is current performance rate is 9.6 % the best it has done is 17 % .
I have always had doubts about pensions because of the financial crisis over the past few years .

But longterm i know i need to put more money in my pension to give me an income for when i retire or semi retire . If i am fit enough i will a few 1/2 days a week hopefully thanks to WFP .
I know i wont get a state pension till i am 67 unless the goverment change things again . Mike

mike
have you factored  the charges that they take into your figures ?

the good thing about isas ,is that you have your capital at the end of the day.

i hope your plan does well for you.

mike

[A@R WINDOWCLEANING]

Ive worked my nuts off for 20 years doing  window cleaning and managed to buy another hse and i live in quite a big house now  so i will down size later and keep renting the other hse that is my only option as pensions are a waste of time .also hoping son takes over business and pays me from that aswell  

[Perfect Windows]

What is the difference between an ISA and a pension? With a pension you get 20% or 40% tax rebate on contributions (depending on your tax rate rate), with an ISA you do not.. You can invest in broadly the same range of funds with an ISA as with a pension.

Investing in property e.g. buy to let is IMO a good idea but most of us do not have the money to do so.

Surely it is better to invest in the stock market when it is down rather than when it is up.

DD,

You're missing a point here.  On a pension, you pay no tax on your inputs but you are taxed on the pension you take.

With an ISA, you pay tax on the inputs but you pay no tax on the money you receive in the future.

They work out the same if you look at the whole picture.

Vin

[Ian101]

If you are serious about pensions organise yourself a SIPP. 

My round will form part of my pension plus will keep a bit back for myself .... 60 top paying jobs a month easy peasy 1 weeks work and rent rest out.

[Splash 4 Cash]

Dont bother with pensions they only make the rich richer.After many years in the property game my advice is put you money into property. Then you will said the amount is to small.I agree. But find some like minded people and form a syndicate and buy property that way.Each putting in say 5000 and if you are four will can soon save buy a second property.|I have seen people make plenty of money for old age.I used to help folk set this up.