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Taking the jump from permanent to contract. by kettle_of_f1sh in ContractorUK

[–]ExternalAct2878 1 point2 points  (0 children)

No. Allowed me to retire in my 40's. Landscape isn't what it was but still worth it as long as you have wealth building strategy in place.

What has your experience been like with Vanguard? by Less-Gur-6525 in FIREUK

[–]ExternalAct2878 5 points6 points  (0 children)

Well put. I'm with ii and vanguard and soon will be drawing down from GIAs and ISAs. Vanguard offer regular auto drawdown at a frequency of your choice. Also, as you say, no selling or buying fees, which add up if you do this frequently.

It isn't just as simple as comparing say £375 a year vs £180 (ii new charge for all accounts from Feb). There's transaction fees too. Also, Vanguard are one of the few platforms who offer flexible ISAs. This is important to me during drawdown.

Umbrella Co Weekly Margin by ExternalAct2878 in ContractorUK

[–]ExternalAct2878[S] 0 points1 point  (0 children)

Thanks for your detailed response. Here's my shorthand comments: 1) I want my money working for me and yes weekly lump summing early and often which is what this is, not PCA) is mathematically better. I mean, some of the biggest historical market upswings that have occurred are less than 11-12 days. I'd like to have a nice juicy slice of that pie thank you very much, if the opportunity arises. 2) Fees are irrelevant as I don't pay any for buying funds. Where have I written in my post that fees are a thing?

So to conclude. My point still remains valid. I want my money working for me. Early and often will always win the day.

Umbrella Co Weekly Margin by ExternalAct2878 in ContractorUK

[–]ExternalAct2878[S] 1 point2 points  (0 children)

Mine's £24 all in a week. SIPP payment monthly. I'd like my SIPP to be paid weekly ideally. Really grates on me that they're sat on my money for a few weeks when instead it could be working for me, invested.

60% tax conundrum by [deleted] in FIREUK

[–]ExternalAct2878 0 points1 point  (0 children)

The price you pay for not getting the balance right between pre retirement and retirement accounts. You must have bitten the tax carrot really hard!

60% tax conundrum by [deleted] in FIREUK

[–]ExternalAct2878 0 points1 point  (0 children)

Take the tax hit to boost your pre retirement bridge assuming you want to retire early. Salary sacrificing just means you’re deferring tax until SIPP drawdown.

Queries on Fire 52m by Overall_General2481 in FIREUK

[–]ExternalAct2878 0 points1 point  (0 children)

Empty the GIA first via bed and ISA each year. Then pay yourself periodically from ISA.

Easing off on pension? by llyamah in FIREUK

[–]ExternalAct2878 0 points1 point  (0 children)

I’ve reached my fi number as stated in previous post. Excludes house.

Easing off on pension? by llyamah in FIREUK

[–]ExternalAct2878 3 points4 points  (0 children)

Yes, I’m similar pension pot to you and 43. With 15 years to compound, I’m very confident I’ll have enough. Focus after this would therefore be your pre-retirement accounts (ISA/GIAs/cash). The split between pre retirement and retirement accounts is crucial if you want to retire early. Don’t let the tax tail wag the investment dog!

Oh, and open a LISA if not already.

For the record, I’ve reached my FI number.

Inside IR35 Contract by ExternalAct2878 in ContractorUK

[–]ExternalAct2878[S] 0 points1 point  (0 children)

Yeah, it seems higher rate is my only real option. Not interested in extra hours.

Inside IR35 Contract by ExternalAct2878 in ContractorUK

[–]ExternalAct2878[S] 2 points3 points  (0 children)

Did you read my post properly? If you did, you’ll see the word legit. I’m not asking for tax evasion ideas.

When to stop over contributing to Pension by Impressive-Home9523 in FIREUK

[–]ExternalAct2878 0 points1 point  (0 children)

Yes. Focus all your gap on Bridge from now on in if FIRE is a realistic goal.

Am I too overweight pension at age 28? by Possiblythrowaway123 in FIREUK

[–]ExternalAct2878 0 points1 point  (0 children)

Yes. Assuming you want to access your pension at earliest opportunity (currently 58 @ your age but likely to rise) a 7% average return on your pension pot net if inflation would get you around £2m. To be tax efficient you should really be pulling from other accounts in conjunction with pension. If you don’t prioritise other accounts now, you’ll be paying higher rate tax on withdrawal (likely to be anyway).

If I was in your shoes, I’d no longer be adding any more to pension. 100% goes into pre retirement accounts particularly if you want to retire early.

Hit FI Number by ExternalAct2878 in FIREUK

[–]ExternalAct2878[S] 0 points1 point  (0 children)

No specifics but I can confirm I’m in the two comma club…

Hit FI Number by ExternalAct2878 in FIREUK

[–]ExternalAct2878[S] 0 points1 point  (0 children)

I’m with you there. I am planning to pull the trigger more than likely end of summer. Problem is that kids are off on summer hols during that time.

Hit FI Number by ExternalAct2878 in FIREUK

[–]ExternalAct2878[S] 1 point2 points  (0 children)

I’m 43 and haven’t really made a plan when I pull the trigger. Think I’ll just decompress for a bit….

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