Everywhere you look this topic is in your face; pensions are a must have, something you couldn’t possibly live without. But is that the truth or hype?
Even in the most Trumpesque of moments I can’t help but think his ‘two types of truth’ line
applies to all of the pension providers and advisers in the UK, let me explain.
You’re bombarded with facts about pensions you can’t ignore, your later years will end up
in a kind of Dickensian hell if you don’t start saving now, and you have to save it with us.
Look at the tax breaks they claim, look at the benefits, secure your future, only fool would consider anything else, we are supported by the Government, given tax breaks.
Some alternative truths are these…
1. You’ll commit to paying charges on your pension right up until you retire and these
will be ongoing (probably in the region of 20% of your fund every ten years).
2. The choice of fund in which to invest are likely to under perform the markets generally – statement of fact about fund performance.
3. The value of your advisers business will increase because of their guaranteed income.
4. A change in pension rules could massively impact your final pot (there have been hundreds in the last twenty years).
5. With modern tax rules you can invest tax free (virtually) outside of a pension, only not
many in the pensions industry want you to know this.
Alternative truths or just the truth? You decide, but if you want me to help solve your pension problems in the space of an hour, simply borrow me for an hour, it comes with a fixed price and unlimited potential to make you more money. I’ll also tell you why rich people don’t invest in pensions – charges are one thing, but there are others.
You can ‘borrow my brain’ to solve a problem quickly and be safe in the knowledge you’ll make many thousands of pounds from just one hour of your time, and you can do that here or you can get on the list, it’s where I share my best stuff first, and that’s below.
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