This is the first time I'm commenting on your video but I've been watching all your videos monthly since the beginning of the year after I stumbled upon your channel. I just want to say, all you've achieved is very inspiring. 👍🏾 Learning a lot from you in my investing journey
Really enjoy the updates! Do you ever go into what you and your spouse's pensions are invested in? What caused the large gain in their pension since the last update, was it a large contribution or investment gains?
It's 100% global equity at the moment. My spouse had a blended fund until I changed it recently making her underperform the market. We also started a SIPP for her so it's those additional contributions.
Maximising your Pension is the best route unless you thinking of getting access to this before 55 and will go up to 57 especially if you are a 40% tax payer.
In my early 30s and planning on retiring at 50. Problem is I'm likely to max out the £268,275 tax free allowance and if my pension gets too big I'm likely to pay 40% income tax on the way out.
@ it’s a nice problem to have and if you plan right with your spouse you can take £12570 each tax free. By the time you’re retired it will be closer to a personal allowance of 20k each. Along with your 25% pension tax free elements and ISA you can withdraw a lot of monthly cash without paying Any tax. Maxing your pension still better than ISA as a 40 % tax payer but your ISA will play a big role in keeping tax down through subsidising the pension and annual allowance. Good luck sounds like you have a good retirement ahead. 👍
I did mention this in a previous video, might be worth giving some context on every video given I'm likely to have some new viewers. I'm in my early 30's and planning on retiring around 50.
@@Paulie44 Well I've already taken about 40% of my initial investment out of Palantir and RKLB this week as I think they are both valued quite richly, both are long term investments (10+ year horizon) so I don't mind buying more at lower prices.
Greed will cost you in the end. Palantir & Rocket Lab - you need to sell & take the gains. The world is full of people who made a fortune and lost it all.
I've already taken out around 40% of my initial investment in both recently and they are long term holds for me (10+ years), so got no issue if they drop in share price.
You've got alot of cash tied up in *relatively* liquid assets (ISA) Would it be prudent to take some off the table and use the cash now? I know it doesn't fit into the retire at 50 narrative but we really don't know how long we have left. People around me are dripping like flies right now, 2 people I know in their 40s and a colleague in their late 50s who was going to retire next month 😮
@@James-dt1kl Hey James - I don't need to use the cash now and have a chunk sitting in my Premium Bonds if I ever need fairly quick access to cash. I'm still enjoying my life by travelling a fair bit and buying some luxuries in life, but not flying business class...yet!
Snowball - I am sure you know this but I wouldn’t pay too much attention to comments on “greed” etc. You have a clear and considered plan and seem to have the stomach for the risks involved. Very best wishes to you.
This is the first time I'm commenting on your video but I've been watching all your videos monthly since the beginning of the year after I stumbled upon your channel. I just want to say, all you've achieved is very inspiring. 👍🏾 Learning a lot from you in my investing journey
Thanks for your comments - always keen to engage with the community.
Really enjoy the updates! Do you ever go into what you and your spouse's pensions are invested in? What caused the large gain in their pension since the last update, was it a large contribution or investment gains?
It's 100% global equity at the moment. My spouse had a blended fund until I changed it recently making her underperform the market. We also started a SIPP for her so it's those additional contributions.
Very impressed with your investing well done
Thanks!
Maximising your Pension is the best route unless you thinking of getting access to this before 55 and will go up to 57 especially if you are a 40% tax payer.
In my early 30s and planning on retiring at 50. Problem is I'm likely to max out the £268,275 tax free allowance and if my pension gets too big I'm likely to pay 40% income tax on the way out.
@ it’s a nice problem to have and if you plan right with your spouse you can take £12570 each tax free. By the time you’re retired it will be closer to a personal allowance of 20k each. Along with your 25% pension tax free elements and ISA you can withdraw a lot of monthly cash without paying Any tax.
Maxing your pension still better than ISA as a 40 % tax payer but your ISA will play a big role in keeping tax down through subsidising the pension and annual allowance. Good luck sounds like you have a good retirement ahead. 👍
can you share a template spreadsheet for us to use?
Where are you on this retirement journey? Are you 30 or 50? More context would help
I did mention this in a previous video, might be worth giving some context on every video given I'm likely to have some new viewers. I'm in my early 30's and planning on retiring around 50.
@@snowballinvesting3475 doing very well for your age, well on target to retire by 50
That’s a mega month
Palantir must of made you the biggest gain last month .
Yup - up 45% on that position in the past month.
@@snowballinvesting3475do you have a plan for when the bubble bursts? At what point will you sell out of the speculative holdings and bank your gains?
@@Paulie44 Well I've already taken about 40% of my initial investment out of Palantir and RKLB this week as I think they are both valued quite richly, both are long term investments (10+ year horizon) so I don't mind buying more at lower prices.
Greed will cost you in the end. Palantir & Rocket Lab - you need to sell & take the gains. The world is full of people who made a fortune and lost it all.
I've already taken out around 40% of my initial investment in both recently and they are long term holds for me (10+ years), so got no issue if they drop in share price.
You've got alot of cash tied up in *relatively* liquid assets (ISA)
Would it be prudent to take some off the table and use the cash now?
I know it doesn't fit into the retire at 50 narrative but we really don't know how long we have left.
People around me are dripping like flies right now, 2 people I know in their 40s and a colleague in their late 50s who was going to retire next month 😮
@@James-dt1kl Hey James - I don't need to use the cash now and have a chunk sitting in my Premium Bonds if I ever need fairly quick access to cash. I'm still enjoying my life by travelling a fair bit and buying some luxuries in life, but not flying business class...yet!
@@snowballinvesting3475 Fair enough.
Snowball - I am sure you know this but I wouldn’t pay too much attention to comments on “greed” etc. You have a clear and considered plan and seem to have the stomach for the risks involved. Very best wishes to you.