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100% agree re the 1% IFA model - not for me

Hi there, can I take a drawdown @ age 55 and take income from drawdown and convert the drawdown into annuity with the remaining money left in the drawdown to an annuity @ age 75. Thanks

What about interactive brokers?

I will retire earlier and spend it now. I can see highly skilled workers leaving earlier. There is no real incentive to keep working if you have enough.

The personal allowance is pathetic. No wonder people can't afford to have kids anymore.

Why is it all so complicated with Tax. Earn all my life and I have to worry about paying tax on earnings already taxed. BS

When the chancellor sees ISA savings growing. Will she change the current tax rules on ISA’s?

Does it not make sense as a 40% tax payer to transfer any ISA into a sipp to get the 40% relief and then draw down in pension as a 25% tax free and your annual allowance once retired and paying no tax ?

Good video!

I think Retiring on £300k is more than enough. I retired on £270k as at 2022 and even when i was advised against it by me colleagues due to how inflation, taxes and healthcare could eventually be challenges. I was confident it was time because i already had my financial plans in place

I'd be retiring or working less in 8 years, and considering this financial recession, Im deciding to begin taking up skilled trades. I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, learn around $130K per year but nothing to show for it yet.

The FAD vs UFPLS advice seems extremely surprising for anyone with a DC fund of £1M or more as it would almost inevitability result in 40% income tax charges when the state pension kicks in. I'd be interested in seeing a deeper analysis of this.

2:40 That because Apple talks a good game but that's all it is, talk. Why are their repair cost so high? Because they'd rather sell you a new product, not fix your current one

Ive managed to solve this entire crisis very easily , I now live in Portugal no regrets😊

Big problem in Uk is care costs if you have over 24k you pay all care costs. NHS no longer offers cradle to grave care.

To sort out your retirement planning needs go to ianshadrack.com/retirement-calculator/

It would be worth a video on where to invest your risk assets. For example if you have 50% cash and 50% risk assets, is it better to put the risk assets in your SIPP or your ISA? With current markets I think I am going to keep my risk assets in my SIPP. If they crash this will reduce my IHT bill and I can then move my risk assets to my ISA. If they don't crash then I won't care too much about the IHT as sequence of returns risk will be behind me.

If the Goverment wants to make and recover money... then look at the immigration costs... you could save billions. Never known a Government to ignore the people and become such a orwellean dictatorship

Great video thanks. Interesting idea to use ISAs first as a means of mitigating sequence of returns risk early on in retirement.

I wasn't aware of the difference between gifting to relatives out of a SIPP and ISA since to me it makes no difference its all money when i spend it / give it. But i have already upped my SIPP so that i can gift to relatives out of the excess income from that then i can use my ISA to live on if i want extra money for say a big holiday or other large purchase.

Hi Ian, do dividends from ISA investments count as income in a ‘gifts from income IHT reduction scenario’? Thanks!

What happens to your pension at age 75 if you have not drawn any money from it? and if you do draw down 25% does the rest of the pension continue to gain interest?

Uk government planning massive UK mega pension fraud

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation.

free bus pass free rent cheap council tax

france and as people retire today they will pay taxes you don't have to wait for the government retirement age.......

pension credit, and aa

I plan to retire at 60 and leave my DC Pension to grow more up until Im 67 - I should have enough money in my ISA to last for 7 years - I do not have any children - I have a spouse - is this a good plan?

Good video. So if you leave say £1 million in cash and die, IHT above the allowance is 40%, If you leave £1 million in a pension, its 40% (new tax) and beneficiaries marginal rate if withdrawn. So lets say 40% of the remaining 60%. Double tax. Unbelievable

The latest narrative of die with zero does not make sense to me. Just use your pension wisely, then leave the remainder of your pension to charities in your wishes. I've already begun collating a list of suitable animal charities. It's nice to have goals. My goal in life now is to give as little as possible to the Labour government.

I hadn't really appreciated what a big deal minimizing paying tax on income sources such as pensions was until I retired only to find that essentially ALL my single person tax allowance is consumed by my State Pension (I get a bit more that most if seems because it is "enhanced" (which I have never completely understood how it was calculated but I am happy to receive it!). Being divorced and having sold the family house and given our grown up children a substantial gift as deposit to buy a flat, I had planned to pass wealth to my second family via leaving as much in my pension pot as possible. I'm still trying to understand how or whether I can change my strategy to leave them an inheritance without a 40% IHT bill. It seems gifting using the 7 year rule may be one answer. Many RUclips channels promote the use of Trusts for wealth protection - I'm still trying to understand the pros and cons of the many different types of Trust.

(for larger DC pension pots of 700k+) I wonder if that maximising 20% band tactic (i.e., taking out up to the 40% threshold to nearly the exact penny to move into an ISA, and possibly with a lot of early gifting (say before 70) to maximise the chances of lasting another 7 years, will become a lot more popular. Could mean people get larger buffers against market drops too if the ISA is cash.

I feel a bit reluctant to reduce the the ISA before the SIPP , partly I guess a suspicion that advisors want you to keep the SIPP untouched to get their fee from it and keep it growing 😅,

Thank you for the video! Do you think that combining TDGB with IWDA would create a well-balanced portfolio with both growth and value? Also, do you feel that TDGB’s significant exposure to the financial sector might be a potential risk?

Morning Ian. Have you done any research using VCTs as a means of tax mitigation and tax free income in retirement alongside SIPP and ISA?

Too late for me, I’m already an OAP aged 68, February 10th 2025, I’ll be 69, so a State Pensioner.

The incompetence and corruption that runs through this administration are getting more ridiculous. I feel for people with disabilities not getting the help they deserve. Thank you June Renae Matthysse, imagine investing $1.5k and receiving $9k in 10 days

I feel post tax and transaction charges difference in return won't be much.

I've been accruing money since I stopped work and now find myself with far too much and with an intention to leave absolutely nothing more than £1million. I now have an uphill struggle to divest well over half as much again, given my wife and I will not leave a penny more than we have to. The kids are set for a bumper Xmas and on the strict instruction they can only spend 60% and to keep 40% (diminishing) to pay any IHT. That thieving Reeves will not get a penny if I can help it and I'd rather be put on indefinite life support to thwart her and the government!

The New IHT envelope is £1m so the bucket sequence changes. Equity release to zero, with stock drawdown with guard rails. why annuity?

Great use of charts to explain those retirement years Ian. To plan, you must know what your monthly/annual expenses are. Then factor in inflation and market growth. It's not too difficult and tools like your spreadsheet really help. There are also free online resources which will plot retirement withdrawals. There's even a commercial product (Timeline) which is free for up to 3 users and will guide you through all income and expenditure and tell you if your plan is sustainable via Monte Carlo simulations.

Great video and very timely for me. Just retired in Sept age 55. I read Die With Zero and it really got me thinking and persuaded me to retire ASAP. You must live for experiences if fortunate enough to have enough put aside... and at a young age when you can appreciate it. We don't know what's around the corner. I'm so glad I made that retirement decision. I don't have an overly luxurious lifestyle but play racket sports most days which I love and is very sociable too. I'm also starting to take up new hobbies and go on more holidays. It doesn't cost a fortune and I really don't miss the stress and routine of work.

Most couples can leave offspring £1m without IHT then it’s 40%. (Unless I’m missing something) I’d rather have too much and if my son has to pay tax on anything over £1m then so be it, worse problems to have! I don’t intend to be sitting in old age wondering if I’ll run out before I die. Having money allows you to be able to forget about money.

Not all FAs discourage withdrawals. Mine regularly discusses with me whether I want to take something out - he said it’s incredibly difficult to persuade people to spend their own money - they worry about running out. He also said the best way to avoid IHT is to spend your money now. My wife seems to have taken that to heart.

The best plan is to not have kids. Biggest waste of money

A lot of this would be less concerning if they had a 20% band on inheritance taxes rather than the sudden 40% band. However our 500k+ threshold is high compared to the rest of Europe (Italy excepted), especially when it comes to descendent inheritances. There is always the retire in Austria, Czechia, Norway, Slovakia, and Sweden option to avoid IHT.

Right on Ian - I am 100% with you!

This type of planning becomes all the more relevant if state pension gets means tested. Little point in having cash in the bank if it means you loose £12k+ in pension income. Uncertain times.

7:06 ahhh…. Rascals 😂