SIPPs, ISA's etc
Discussion
Bit of a follow on from my last thread, having decided to pay off some of the Mortgage with the lum sum, I'm looking for somewhere to put a small sum/monthly additions for the next 5 years until I reach 65.
Another pension fund seems a good idea with the 20% tax relief but surely you get taxed once you start to draw it.
Cash Isas seem a waste of time as they don't even match inflation
Are there any reasonably safe (Equity?) ISA's about?
Or do I buy Gold, chose a good dividend paying share, buy into old wine....
Another pension fund seems a good idea with the 20% tax relief but surely you get taxed once you start to draw it.
Cash Isas seem a waste of time as they don't even match inflation
Are there any reasonably safe (Equity?) ISA's about?
Or do I buy Gold, chose a good dividend paying share, buy into old wine....
Edited by Skyedriver on Tuesday 7th May 22:23
I personally would not want to start a pension at 60 years of age. Nor would I be looking too closely at the stock market. But we are all different 
A lot will depend on your attitude to risk really - I would be wary of gold at the moment - and I appreciate your frustration over ISA rates.
Sometimes the best investment can be in your quality of life. Is there a hobby you have, or a longstanding desire to do something? Do you have a grandchild who would benefit from this via setting up a small pension pot?
Lots of non-conventional routes you could take here. Good luck with your choice and I hope you enjoy it
A lot will depend on your attitude to risk really - I would be wary of gold at the moment - and I appreciate your frustration over ISA rates.
Sometimes the best investment can be in your quality of life. Is there a hobby you have, or a longstanding desire to do something? Do you have a grandchild who would benefit from this via setting up a small pension pot?
Lots of non-conventional routes you could take here. Good luck with your choice and I hope you enjoy it
[quote=Jockman]Stiff quote]
Yes any investment should be longer than 5 years really so pension etc may not be best bet unless I work until 70. It wa the 20% Govt. input that interested (no pun intended)me. Suppose the 20% income tax on the payout would be there whether from a pension or othe form of income. So that's a 20% gain. Have to say however I was "shafted" once in a pension arrangement so have been reluctant since. Need to consider the CGT annual allowance as I don't make use of that at the moment.
Gold presently on a down, assume it'll recover eventually, buy low?
Yes there is a hobby or two, need the income to fund them.
Quality of life, I'm only 60, would hope to get a few decent years to come, back into (club level) motorsport etc.
Grandchild! - I have one SON aged 7. Mind there are a number of people who have referred to me as his Grandad - Grrrrrr!
Cheers
Yes any investment should be longer than 5 years really so pension etc may not be best bet unless I work until 70. It wa the 20% Govt. input that interested (no pun intended)me. Suppose the 20% income tax on the payout would be there whether from a pension or othe form of income. So that's a 20% gain. Have to say however I was "shafted" once in a pension arrangement so have been reluctant since. Need to consider the CGT annual allowance as I don't make use of that at the moment.
Gold presently on a down, assume it'll recover eventually, buy low?
Yes there is a hobby or two, need the income to fund them.
Quality of life, I'm only 60, would hope to get a few decent years to come, back into (club level) motorsport etc.
Grandchild! - I have one SON aged 7. Mind there are a number of people who have referred to me as his Grandad - Grrrrrr!
Cheers
Edited by Skyedriver on Wednesday 8th May 10:15
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