🔴 ua-cam.com/video/bp5R3dIQzhU/v-deo.html - Click here to watch How I Invest My Own Money 🔴 ua-cam.com/video/hQhMzR4LJNk/v-deo.html - Click here to watch Investing Made Simple
Retirees facing difficulty in meeting their basic needs are often those who couldn't amass sufficient funds during their working years. Various factors contribute to the outcomes of retirement decisions. For instance, my wife and I both served the same number of years in government service, yet we took different investment paths-she opted for a wealth manager, while I chose a 401(k). Despite our retirement, both of us continue to engage in work.
Thanks for the video. Worth the time taken to listen to you. I'm not a big fan of those Robo Advisors and always thought paid advice is only suited to those who have a starting purse of £100k plus.
Must say that I do all three! IFA looks after my main portfolio and provides informed advice on topics like my SIPP, IHT and other tax planning, pestering me to get Power of Attorney etc sorted. I then have my own smaller self-admin portfolio, which allows me to buy and sell investments quickly - essentially on a whim - and without troubling my IFA. And then more recently I've started three low-cost robo-adviser accounts to see how these stack up against one another and as a benchmark for low-cost passive investing to compare to my IFA-managed pots.
Welcome back Pete! A great start to 2022, and I love the supermarket analogy for the DIY platforms. The food analogy actually could work pretty well for all three options. And thanks for the recommendation, I'm off to buy a Bentley immediately!
Similar tax relief if basic rate taxpayer, if higher rate or additional taxpayer then pension will have more tax relief. Don't forget pension is tied in until 55 (at least) and LISA bonus can be used to buy first home
Not really an investment. They’re a safe place for your money, but the return is poor on average, unless you win the big prizes, and the odds of that are vanishingly small.
Hi Joel, I’m also a Chartered Financial Planner (working in the city) and I know that Peter won’t answer that question for you as you have asked him for advice there and you’re not formally engaged with him so he would be putting his career at risk by answering that for you without knowing you or your needs. Better to ask his opinion on Plum as a platform and whether he thinks it does a good job. That’s as far as he will likely answer. Unfortunately I can’t comment as that’s not my area of expertise as I advise a lot of non-uk domiciled clients and ultra high net worth. I’d like to know for myself though!
@@danfellows9502 thanks Dan - Peter, I will rephrase my question to you. Do you think Plum and similar platforms can work well in terms of being used as an investment platform?
HI Joel (and thanks @Dan) - yes I do think so. Plum and others like them will meet a need for a certain class of investors, as discussed in the video, and serve as a great gateway to more involved investing as you become comfortable doing so. Good luck!
"Nothing is irreversible" is not true. If you flexibly access your pension savings, that can never be undone and you can contribute a max of 4K per annum for the rest of your life.
🔴 ua-cam.com/video/bp5R3dIQzhU/v-deo.html - Click here to watch How I Invest My Own Money
🔴 ua-cam.com/video/hQhMzR4LJNk/v-deo.html - Click here to watch Investing Made Simple
Retirees facing difficulty in meeting their basic needs are often those who couldn't amass sufficient funds during their working years. Various factors contribute to the outcomes of retirement decisions. For instance, my wife and I both served the same number of years in government service, yet we took different investment paths-she opted for a wealth manager, while I chose a 401(k). Despite our retirement, both of us continue to engage in work.
Thanks for the video. Worth the time taken to listen to you. I'm not a big fan of those Robo Advisors and always thought paid advice is only suited to those who have a starting purse of £100k plus.
Thanks Pete. Like you gave an indication of how to the fees would be ie 0.5%, .75 to 1% and >2% overall costs per year
This answered so many of my questions, thanks Pete. P.s. love your humor!
Thank you Anthony! I’m glad it was both helpful and entertaining!
Must say that I do all three! IFA looks after my main portfolio and provides informed advice on topics like my SIPP, IHT and other tax planning, pestering me to get Power of Attorney etc sorted. I then have my own smaller self-admin portfolio, which allows me to buy and sell investments quickly - essentially on a whim - and without troubling my IFA. And then more recently I've started three low-cost robo-adviser accounts to see how these stack up against one another and as a benchmark for low-cost passive investing to compare to my IFA-managed pots.
I think more and more people are doing this, John. Maybe the best of all worlds?!
Good to see you back Pete.
Good to be back, Cecil!
Perfect I have been trying to figure this out the past couple of weeks.
Glad it was helpful, Sean!
Happy New Year Pete and as always straightforward advice on the options available.
HNY to you too, Matt - cheers!
Welcome back Pete! A great start to 2022, and I love the supermarket analogy for the DIY platforms. The food analogy actually could work pretty well for all three options.
And thanks for the recommendation, I'm off to buy a Bentley immediately!
Bentleys don’t suit everyone though, right?!
@@MeaningfulMoney I'd love a chance to find out! 😆
Pete Matthew rocks.
You’re very kind, Tony!
Be good to see a video on the pros and cons of equity release ?
Noted - watch this space.
Great video Pete. As a young lad I ask, LISA or Pension?
Similar tax relief if basic rate taxpayer, if higher rate or additional taxpayer then pension will have more tax relief. Don't forget pension is tied in until 55 (at least) and LISA bonus can be used to buy first home
Hi Peter. How much do you charge to manage an account?.
Hi majorscope. We don’t manage accounts as such. We’re financial planners first and for most. Check out meaningfulmoney.tv/work-with-pete
Are premium bonds a good investment option?
Not really an investment. They’re a safe place for your money, but the return is poor on average, unless you win the big prizes, and the odds of that are vanishingly small.
@@MeaningfulMoney I didn't think before I asked the question. Thankyou for the reply. Your reports are helpful and not too much in one go. Thankyou.
Would you recommend using PLUM as an investment S&S ISA platform?
Hi Joel, I’m also a Chartered Financial Planner (working in the city) and I know that Peter won’t answer that question for you as you have asked him for advice there and you’re not formally engaged with him so he would be putting his career at risk by answering that for you without knowing you or your needs. Better to ask his opinion on Plum as a platform and whether he thinks it does a good job. That’s as far as he will likely answer.
Unfortunately I can’t comment as that’s not my area of expertise as I advise a lot of non-uk domiciled clients and ultra high net worth. I’d like to know for myself though!
@@danfellows9502 thanks Dan - Peter, I will rephrase my question to you.
Do you think Plum and similar platforms can work well in terms of being used as an investment platform?
HI Joel (and thanks @Dan) - yes I do think so. Plum and others like them will meet a need for a certain class of investors, as discussed in the video, and serve as a great gateway to more involved investing as you become comfortable doing so. Good luck!
WHAT IS THE BEST WAY TO MAKE MONEY FROM INVESTING NOW?
There is no ‘best way,’ but the ways which have always worked will continue to do so.
Diversify and be patient.
share prices are plummeting
Yep. They’ll come back though - they always do
Drawing from your Pension to early is irreversible. 🚑🚑
"Nothing is irreversible" is not true. If you flexibly access your pension savings, that can never be undone and you can contribute a max of 4K per annum for the rest of your life.
Yep, that’s true - good shout.
I love your advise,but PLEASE keep your hands still,it's very distracting watching you wave them up and down to emphasise your point.
Will try my best - it’s not easy!!