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19 Jul
5:25pm, 19 Jul 2024
23,338 posts
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geordiegirl
X-post with you dio hope you find a new IFA, we used true potential - have to save I was worried our guy would retire before us then found out he was younger than me!! All I can presume is being a IFA is very stressful!
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19 Jul
6:06pm, 19 Jul 2024
87,100 posts
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Diogenes
He replied to my email and is referring me on to someone else.
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19 Jul
8:16pm, 19 Jul 2024
23,344 posts
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geordiegirl
Fab! Get the final plans in motion.
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19 Jul
8:28pm, 19 Jul 2024
50,478 posts
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HappyG(rrr)
I'd love to feel I could justify an IFA. But several 000s of cost for what I think I can add up for myself just doesn't make sense for me at the moment. I'm not interested in "minimizing tax", I am happy to pay tax. And the balance of where to use my money at the moment really is a no brainer.
I may well need one at some point in the future, but I know I'll resent it even then!  G
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19 Jul
8:54pm, 19 Jul 2024
28,085 posts
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TROSaracen
Our IFA has saved us loads of tax and made investments that have yielded ‘retirement brought forward’ amounts of return.
Some really clever stuff that even me, as an Accountant who’s worked in finance all my life would not have known.
We’ve recommended them to several friends - those who’ve been there long enough have reported similar.
I was sniffy about them before but have been won over since.
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19 Jul
8:59pm, 19 Jul 2024
43,166 posts
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Ness
The IFA I use will have saved me loads of money by the time stage 3 of my retirement plan kicks in to place. Hopefully on my 60th birthday.
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19 Jul
9:01pm, 19 Jul 2024
50,480 posts
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HappyG(rrr)
Return on investment requires that you have enough funds to invest. And I've said already I don't want to avoid tax particularly. There might come a time when I need to "use" the money that has been put into pensions / investment / savings pots but until then I think it's just "pay off debts, followed by put money aside into sensible pots". Don't think I need to pay anyone a couple of grand to tell me that.
I think it's partly scale as well. I don't have "large" amounts of money, so 1 and 2 thousands is a lot to be paying an IFA. So if I sounded a bit sniffy, it's partly jealousy of those of you getting inheritances or redundancy payouts or other large lump sums. None of that in my present or future! Like I say, just jealous, which isn't attractive!! G
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19 Jul
9:44pm, 19 Jul 2024
76,742 posts
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Lip Gloss
I just see it as I wouldn’t have had a clue without a FA when I first got divorced and had money to invest. My money has definitely made money over the years and he knows I need my money and I’m not a risk taker and so he has invested wisely.
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19 Jul
9:46pm, 19 Jul 2024
23,346 posts
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geordiegirl
We don’t pay for our FA he gets a %from what we take up.
For me who is not necessarily up to speed with all the financial stuff ( it enough hours in the day) he took a tiny pension I had with Scottish widows paying me £200 a year into a flexi draw down now worth over £18k, ok an annual payment wouldn’t be much but I can use this now to give me some funds to bridge along with OH old deferred pensions will cover us until current work pensions kick in. Which is allowing us to do the early exit plan.
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20 Jul
7:17pm, 20 Jul 2024
8,692 posts
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um
Got 'age checked' today for free prescription.
I must look younger than I really am. Or the surgery receptionist was humouring (or making a pass at) me and I missed it completely ?
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Synge 