Pension stuff, how's it all looking ? HAve you prepared ?

[Dodgy69]

Put the house in trust and don't leave it too late to start spending.

[v8-powered]

Funnily enough just been talking about this with my missus (an IFA) - we have 2 properties and how the changes may affect us going forward.

Whatever way, pants get pulled down!

[2xtwins]

Funnily enough just been talking about this with my missus (an IFA) - we have 2 properties and how the changes may affect us going forward.

Whatever way, pants get pulled down!

Can't disagree..

Puzzled that she didn't approach it form the other end, so to speak, and limit the relief on contributions to basic rate tax rather than marginal rate.

Kev

[Yorick]

Folk are whinging about state pension being shite, so I did some calcs

Average UK wage is £35k.

Tax and NI on that is about £7k.

So you need to work 35 years to get full pension, so you've paid £245k in your life.

Pension is £12k a year. 20 years you'll get £240k

Sounds good to me. You get all your tax back

[Tomcat]

When I came back from Kazakhstan I looked at getting another job, but either employers didn't want an old bloke or the jobs were shit. So I looked at what I had saved up and what was in the pension pot and worked out that on pure drawdown plus the state and a couple of personal pensions when they kicked in, I could live reasonably well retiring aged 61. I can still buy motorbikes and go on long trips every summer, just have to cut back a bit on the coke and Russian hookers. Best decision I ever made. Who tf wants to work all their days just so you can die rich.

[ZRX61]

Dow cracked 44,000 today. I made more $$$ on the stock market in the past three days than any entire month over the past year.

[JackyJoll]

Dow cracked 44,000 today. I made more $$$ on the stock market in the past three days than any entire month over the past year.

Yes, something seemed to give it a boost on Wednesday.

[Dodgy69]

Question...

If a personal pension withdrawal of 12.5 k of taxable pension is made every year and 10k from an isa or premium bond in the same year, is there any tax to pay. ??

[Nobby]

Question...

If a personal pension withdrawal of 12.5 k of taxable pension is made every year and 10k from an isa or premium bond in the same year, is there any tax to pay. ??

What about your State Pension. ?
That added would take you over your Personal Allowance and would start to pay tax on the PP side. ISA and Gambling winnings are not taxable.

Says me who knows didley squit, but will watch this with interest as I'm in the same boat.

[wheelnut]

Question...

If a personal pension withdrawal of 12.5 k of taxable pension is made every year and 10k from an isa or premium bond in the same year, is there any tax to pay. ??

Everyone’s individual circumstances can be different, but assuming no other source of taxable income then no, they won’t be subject to income tax.

[Dodgy69]

Question...

If a personal pension withdrawal of 12.5 k of taxable pension is made every year and 10k from an isa or premium bond in the same year, is there any tax to pay. ??

What about your State Pension. ?
That added would take you over your Personal Allowance and would start to pay tax on the PP side. ISA and Gambling winnings are not taxable.

Says me who knows didley squit, but will watch this with interest as I'm in the same boat.

Not old enough to get state pension, 58 soon. Looking at ways to retire early without paying tax. So it's 12500 from pension, then any non taxables me thinks. So it's bang money into these accounts now to draw on later and any cash in hand work.

[Dodgy69]

Question...

If a personal pension withdrawal of 12.5 k of taxable pension is made every year and 10k from an isa or premium bond in the same year, is there any tax to pay. ??

Everyone’s individual circumstances can be different, but assuming no other source of taxable income then no, they won’t be subject to income tax.

In my old job they always said we can't advise as everybody's different. I always thought we employee's were all the same, we all want the best and the best was best for everyone.