diversification of wealth/savings

[Augustus1]

diversification of wealth/savings as per title really, and possibly following on from roys how safe do you feel in your retirement plans,

my question is  how diversified are you? , don't need specific investments ,

myself being 4 years from retirement , have a diversified portfolio of, 50% shares in a couple of BTL,  S&S isa, premium bonds ( never won more than £25!), 2 works pension ( both final salary, now frozen ), 4 other paid up pensions from previous employment, a works current pension defined contribution, some value in personal possession , and of  course now gold coins and silver .

 is there anything missing considering such a short time I have left to contribute , or carry on with more PM?

just interested in people thoughts & plans

deano

[sixgun]

Other than your gold and silver are any of your investments active? - that is you decide what you buy and sell rather than an investment manager.

[oliversw5]

intend on dying by 40...Problem solved

 

[Paul]

5 minutes ago, oliversw5 said:

intend on dying by 40...Problem solved

The government and pension company would love this - pensions funding shortfalls crisis sorted.  

I fully expect the goal posts to keep getting move in my lifetime to a point where you will just be working until you drop before long.

[oliversw5]

12 minutes ago, Paul said:

The government and pension company would love this - pensions funding shortfalls crisis sorted.  

I fully expect the goal posts to keep getting move in my lifetime to a point where you will just be working until you drop before long.

...and that is why I will use every trick in the book to pay as little tax as possible. Pension schemes are not set up to benefit people of my generation. If people are only going to take things from me my whole life, I am going to make sure I give as little to the man

[Pete]

I found that moving old pensions into a SIPP worked brilliantly.
Not every pension provider allows this and some final salary, index linked pensions might be worth leaving alone.

With spare cash, assuming you are paying tax and don't need the money right now, paying into a SIPP can give you some or all of your tax back putting a nice additional gain into your pot. With new pension rules, you can start drawing on your SIPP from 55 or leave alone. You can remain in cash or better still spread it around into the better UK ( mainly ) equities and funds. Take a look at Hargreaves Lansdown on-line.
One beauty of the SIPP is it falls outside of Inheritance tax and on death can be passed to spouse or siblings so you cannot loose.

[Augustus1]

2 hours ago, sixgun said:

Other than your gold and silver are any of your investments active? - that is you decide what you buy and sell rather than an investment manager.

all my investments money interests are managed by me , always have been , I like control of what's mine , even investments in the S&s isa are passive funds managed by me

dean.m

[Augustus1]

1 hour ago, Pete said:

I found that moving old pensions into a SIPP worked brilliantly.
Not every pension provider allows this and some final salary, index linked pensions might be worth leaving alone.

With spare cash, assuming you are paying tax and don't need the money right now, paying into a SIPP can give you some or all of your tax back putting a nice additional gain into your pot. With new pension rules, you can start drawing on your SIPP from 55 or leave alone. You can remain in cash or better still spread it around into the better UK ( mainly ) equities and funds. Take a look at Hargreaves Lansdown on-line.
One beauty of the SIPP is it falls outside of Inheritance tax and on death can be passed to spouse or siblings so you cannot loose.

hi pete

yes need to look more into the sipp issue yes I am a 20 % tax payer, in relation to old  pensions etc, in fact I have to get some independent financial advice shortly as to what best to do with all my pensions , cost of advice really puts me off  , and I believe some pension companies  if not ? all force you into taking advice before they let you cash then in , etc ad I believe the final salary should be left . I have my S&S isa with c Stanley direct who have been very good .

dean.m

[KDave]

I am at the other end of the retirement spectrum in that I have just under 40 years until state pension age, and echo oli's sentiment on managing expectations. I am not accounting for the state pension because I do not believe it will exist when I retire, or at best it will be means tested. Gold makes up a good portion of my retirement plans for this purpose - a hiding place for wealth. If I am wrong about the availability of the state pension then I will be pleasantly surprised, but the way things are going its safer not to expect it and plan to save more without compromising too much on today. Easier said than done.

Looking at your asset allocation I think you are well diversified, the allocations are obviously based on personal preference and only you know if that part is right or not. Some people go all in on one asset type and they are happy with it, usually all property or all shares, or all in on a work based pension. I hear that a few nutters go all in on precious metals!