Author Topic: Calling all CBF financial guru's advice needed please!  (Read 5977 times)

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Offline Karennina

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Re: Calling all CBF financial guru's advice needed please!
« Reply #10 on: February 13, 2017, 20:31:54 PM »
Predictions I think!
Thanks all for replies I have decided tonight John F that is what Im going to do make an appointment with a financial advisor

Offline stoop

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Re: Calling all CBF financial guru's advice needed please!
« Reply #11 on: February 14, 2017, 14:00:37 PM »
If your tax free lump sum has dropped by £4000 then the value of your fund must have dropped by £16000.

That's a big drop.

I suspect the previous figures were growth estimates but you need to look into your past statements to see if the actual value has dropped or not. As I said - I suspect the previous quotes were estimates based on future values as £16k is a big drop. How many years is it since you last checked the figures?


Offline stoop

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Re: Calling all CBF financial guru's advice needed please!
« Reply #12 on: February 14, 2017, 14:03:15 PM »
If you want to pm me the details I can look into to for you. I am retired now but still understand the principals involved. I will not be able to advise you other than generically. I do still have some good friends in the pension industry though.


Offline Karennina

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Re: Calling all CBF financial guru's advice needed please!
« Reply #13 on: February 14, 2017, 20:46:25 PM »
I had my reply today it says " Any predictions or estimates are made with an assumption of 4% growth but unfortunately the actual rate of inflation has been a lot lower ( nearer to 1-2%)

Thank you Stoop I really appreciate your offer I truly do not understand it all, Iv been getting regular predictions, I am now really concerned about my husband's whose will be our main scource of income as he must have lost an awful lot!
I will get all the info together and pm you, thanks again

Offline stoop

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Re: Calling all CBF financial guru's advice needed please!
« Reply #14 on: February 15, 2017, 11:02:51 AM »
No worries. As someone above said it really pays to shop around and look at all the options.


Offline Karennina

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Re: Calling all CBF financial guru's advice needed please!
« Reply #15 on: February 15, 2017, 20:13:23 PM »
Husband is going to make an appointment with a financial advisor take all our paperwork and see what they say, we have a good few months to do it and mull over what they say, but thank you soo much Stoop for your kind offer to take a look for us im glad I asked on here as it has made me aware of lots of things that both of us soo were not aware of re pensions!   :)
Thanks very much all   :)

Offline stoop

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Re: Calling all CBF financial guru's advice needed please!
« Reply #16 on: February 18, 2017, 00:22:25 AM »
One option that a friend just took was based on the fact his state pension is going to be about £200 a week due to his SERPS contributions.

He worked out that at 66 he could live off that. So he needs to make sure he has enough to retire at 60 and get him over that six years.

Luckily his pension fund was large enough to do draw downs for the six years and it would allow him to retire at 60 and survive until he reaches 66.

Worth a thought but needs looking at carefully.




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