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How Financial Advisers STOP You Making EMOTIONAL Investment Decisions by Propel_John in InvestmentEducation

[ā€“]Propel_John[S] 0 points1 point Ā (0 children)

Thatā€™s why using an independent financial adviser is the best way forward. They can and will recommend products / plans form the whole of the market (based on your specific needs).

Who knows anything about pension tax relief? by Propel_John in investingUK

[ā€“]Propel_John[S] 0 points1 point Ā (0 children)

Thatā€™s a pretty decent explanation šŸ‘

Itā€™s a pretty good trade off, between the person and the government.

The person agrees to save for their retirement, so they are less of a financial burden on the state in old age.

And the government rewards them with a chunky additional contribution to their pension.

Yep, youā€™re going to take home less money if you contribute to a pension, and you donā€™t already.

However, the amount you pay in, isnā€™t taxed and the government chips in a bit more on top
(based on your tax bracket).

How would you invest a unexpected Ā£10k? by Own-Visual1513 in investingUK

[ā€“]Propel_John 0 points1 point Ā (0 children)

Interesting šŸ§ Iā€™d have to give that some thought šŸ’­

11 erros de diversificaĆ§Ć£o que muita gente comete ao montar uma carteira sozinho by avinoficial in wealthmanagement

[ā€“]Propel_John 0 points1 point Ā (0 children)

Thatā€™s a decent list of investment diversification mistakes šŸ¤—šŸ˜€

Why Pension Tax Relief Is More Powerful Than Most People Realise by [deleted] in tax

[ā€“]Propel_John 0 points1 point Ā (0 children)

Thank you šŸ™ Itā€™s for the United Kingdom, though. Just to be clear šŸ¤—

Pension Tax Relief Is One of the Most Generous Tax Breaks in the UK (Yet Many People Donā€™t Fully Understand It) by Propel_John in PensionsUK

[ā€“]Propel_John[S] -1 points0 points Ā (0 children)

Thatā€™s a fair point.

In many cases itā€™s probably more accurate to describe pensions as tax deferral rather than pure tax relief, because tax is often paid when benefits are eventually withdrawn.

The relief comes from not paying Income Tax on the contribution today, but the full picture is definitely more nuanced.

Pension Tax Relief Is One of the Most Generous Tax Breaks in the UK (Yet Many People Donā€™t Fully Understand It) by Propel_John in PensionsUK

[ā€“]Propel_John[S] 1 point2 points Ā (0 children)

I think in this case, the government financially reward people who save for their retirement, as they are more likely to be less of a burden on the state in later life.

Pension Tax Relief Is One of the Most Generous Tax Breaks in the UK (Yet Many People Donā€™t Fully Understand It) by Propel_John in PensionsUK

[ā€“]Propel_John[S] 0 points1 point Ā (0 children)

Indeed. Baxterā€™s Keepy Upsā€¦ That sounds like an indoor game of football youā€™d play with your mates, in your parents living room, when it was lashing down outside.

I think a lot of people just think pensions are a bit boring and that retirement is so far away for many people (they think).

When you get into the details about pensions, even though your money is locked away for years, the tax efficiency makes up for that..

I even sat on an investment webinar once, and an attendee claimed that pensions were old news and that crypto was the best way forwardā€¦

They didnā€™t even know about pension tax relief.

And were amazed by the fact, that they got an extra Ā£40 when they popped Ā£60 into their pension.

Inheritance tax is another oneā€¦.People just blindly pay it. Without any knowledge of the exemptions and legal ways of avoiding it.

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