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Apr 2023
9:01am, 19 Apr 2023
63,460 posts
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Velociraptor
Well, that's good news, Greg 
The free MSE course on OU (my first, I thought I'd start off by learning something that's fact-based and that I mostly know already) had me do an annualised income vs. expenditure analysis yesterday. Not something I've done for a long time because I'm not a details person. It confirmed that eL Bee!'s income going from what it is now to just his NHS pension shouldn't be a problem.
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Apr 2023
9:02am, 19 Apr 2023
11,124 posts
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cathrobinson
Unsurprisingly, I read it as Seattle - been there twice already this year and heading back there shortly
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Apr 2023
9:09am, 19 Apr 2023
7,202 posts
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bigleggy
Hit 55 tomorrow - reading this thread makes me determined to retire asap.
I've got pensions all over the place - how do I know what they are worth as a monthly sum ?
People mention IFA's on here - how much are you paying for their services if you don't mind me asking.
In work at the mo , so might not be able to respond to answers right away - so let me say up front, thanks to all who take the time to give me the benefit of your wisdom
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Apr 2023
9:13am, 19 Apr 2023
42,456 posts
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EvilPixie
you don't pay for consultation just if you take their services for most
then, well for us, it's a percentage of the pot
we spoke to our chap for a good 6 hrs (several meetings!) before we said yes and had a 3 hr chat last week
he did all the paperwork to get quotes etc before we agreed to do anything so they do put in a lot of work
for us the % was lower the more money we invested via him
that fee includes as much contact as you want and an annual review
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Apr 2023
9:16am, 19 Apr 2023
63,461 posts
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Velociraptor
Do you know which organisations have your pensions, bigleggy? If you do, contacting each organisation for a statement/projection would be worthwhile.
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Apr 2023
9:24am, 19 Apr 2023
4,429 posts
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Curly45
I ended up merging mine, which as they were small and I can't take them for years was the best decision financially and management wise, but if you are looking at taking them soon then probably not worth the exit fees and just tot up the statement amounts.
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Apr 2023
9:29am, 19 Apr 2023
63,462 posts
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Velociraptor
Some IFAs work on an hourly fee rather than commission on products or a percentage of the pot, and if you've got a decent amount of assets that might be a better approach.
I've never used an IFA (The Motley Fool and the introduction of direct online share dealing and stakeholder pensions arrived when I was at the point of thinking about investments) but a nice tied adviser from The Wesleyan did a fair amount of spreadsheeting and letter-writing for me over a period of a few years in the hope of being able to sell me stuff. The work he did in getting NHS pension projections for me when I was 51 and in dire straits with burnout was invaluable.
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Apr 2023
9:34am, 19 Apr 2023
7,203 posts
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bigleggy
I took some advice a few years ago and they told me to leave (most of) my pensions where they were. I only invested one pot with that guy but I've since found out that compared to the market they are quite expensive, hence the question of IFA cost.
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Apr 2023
9:38am, 19 Apr 2023
144,862 posts
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GregP
How miserable is the flight Cath? I've never flown directly to the west coast as I get bored/cranky enough going to NY or Boston.
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Apr 2023
9:46am, 19 Apr 2023
17,257 posts
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Garfield
It's long Greg...I've only been there once, some 14 years ago. The key is to get up a move about regularly.
It's interesting to see northern/arctic Canada from the air, though there's not much there, aside from tundra and precambrian shield and carved out lakes from ancient glaciers.
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McGoohan