Private Pension

Kaldo

Hi all,

Happy Christmas first at all.

Just wondering to look at private pension. Where would you start looking at? Do your recommend any specific plan?

Thanks,
Kaldo

Heres Johnny

Kaldo wrote: »

Hi all,

Happy Christmas first at all.

Just wondering to look at private pension. Where would you start looking at? Do your recommend any specific plan?

Thanks,
Kaldo

Go talk to some financial advisors. I mean 3 or 4 of them. Figure out exactly what you want and what's right for you. Learn how a pension works and what you want it to do for you. I worked in this industry before and usually met people a few times before they really knew what they wanted.

Not as simple as just selecting a particular plan, you need to be walked and talked through the plan (your own plan, not a plan from a financial services company)

Kaldo

Heres Johnny wrote: »

Go talk to some financial advisors. I mean 3 or 4 of them. Figure out exactly what you want and what's right for you. Learn how a pension works and what you want it to do for you. I worked in this industry before and usually met people a few times before they really knew what they wanted.

Not as simple as just selecting a particular plan, you need to be walked and talked through the plan (your own plan, not a plan from a financial services company)

Thank you!

Do you recommend any financial advisor? Do they usually provide free advice?

Heres Johnny

Kaldo wrote: »

Thank you!

Do you recommend any financial advisor? Do they usually provide free advice?

There are financial advisors that charge a fee for consultations and they are completely independent usually and send you the direction you should be going.
Most advisors work for brokers or are tied agents of a company and get paid commission by pension providers if you place business with them. These range from salesmen who just want a sale to others who are still excellent advisors. That's why I'm saying go talk to a few.
If you want clarification on anything said to you post back here, some people struggle to understand the whole concept of it.... Compound interest, tax relief, annuities, ARFs, tax free lump sums.... There's a bit to get through

Jim2007

Kaldo wrote: »

Thank you!

Do you recommend any financial advisor? Do they usually provide free advice?

When it comes to the financial world, nothing comes for free. You eventually pay one way or another. 'Free' advice will be offered only on product options that pay the advisor a commission or retro fee.

rosmoke

I usually start with google and youtube.