Really good video - I'm certainly guilty of not thinking ahead to retirement until recently, luckily I've got quite a bit of time left still!
@PrinciplesPersonalFinance
2 жыл бұрын
Cheers Neil! Appreciate your kind words. I think for the vast vast majority of us (including myself) we always wish we started early. Doing some videos going forward on retirement structure and what makes a good retirement. Cheers for watching. 👍
@BeautifulNaturalDramatic
2 жыл бұрын
Very helpful video thanks 😊 👍
@PrinciplesPersonalFinance
2 жыл бұрын
Thanks for watching, glad you enjoyed it!👍
@nokchilton1562
Жыл бұрын
Thank you for your information!!
@PrinciplesPersonalFinance
Жыл бұрын
You're welcome, I appreciate you watching and taking the time to comment!
@stansheppard8929
Жыл бұрын
Thanks very much for this. Very helpful. With the 2 examples - how useful would a figure of £201k be on retirement. What are the options from there?
@sid35gb
Жыл бұрын
Depends on your age right now. It’s worth roughly £8,000 a year today but if you’re not retiring say for another 25 years and had that amount the buying power would be the equivalent of £4,000 a year. Because economic growth of 3% a year when the national economy is running normally means everything you buy today will double in price ever 24 years roughly.
@stansheppard8929
Жыл бұрын
@@sid35gb that’s mate. I’m getting old! 44 now, I’ve a workplace pension plan a sipp I moved over from a previous job and an isa. My wife has a sipp too and the mortgage is going to be paid out in ten yrs. just need to keep the head down
@dkb1234567890
Жыл бұрын
Millions of people only speak to a Financial Advisor once when they take out their pension and the company pays a percentage to the Advisor a percentage every year for the rest of the contract, I only realised this after 30 years until the company told me, so I told them to cancel it, which they did, no one tells you this so he as been fleecing me for a long time every year, more people should be aware of this and stop giving these people a free ride for life
@PrinciplesPersonalFinance
Жыл бұрын
You're talking about a regime that was banned at the very end of 2012. Since then for UK financial advice (with the exception of financial production) commission is no longer possible. Any fees agreed at the outset must be stated clearly and understood before work is started. Some workplaces do choose to pay for professional financial advice as part of their employee benefits, but there are no ongoing commissions to advisers as part of this. I'm not making excuses for the previous regime by the way. All I can say is, things have come a long way for professionalism and while there is still some to go. There are many trying to change this for the better. It's one of the reasons I setup this channel.
@dkb1234567890
Жыл бұрын
@@PrinciplesPersonalFinance This system is live and active in March 2023 so the companies are still paying advisors, on policies taken out before 2012, and probably after that date, its a scam
@PrinciplesPersonalFinance
Жыл бұрын
@@dkb1234567890 previous policies taken out pre Jan 2013 that are still in force could well still pay legacy commission. None since 2013 regulated environment will pay commissions in the UK beyond financial protection. I sympathise with those who are not in good polices or paying commissions on potentially out-dated policies. It's a legacy regime I'm not proud of in this profession but we can't change the past sadly. All I can say is - more of a reason to regularly review. 👍
@beaverundercover3479
Жыл бұрын
not very clear. More figures in the examples would help. I am slow with numbers.
@PrinciplesPersonalFinance
Жыл бұрын
That's good feedback, thank you. I did think that on reflection with this video. There's quite a lot of numbers flying around. Didn't seem a problem in the video writing but I think when it comes together it's a lot. Will try and make things a bit simpler going forward. Cheers for watching 🙌
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