Chris Exley Money Geek

When you’re in retirement…

You shouldn’t just rely on fixed rates of return in your pension.

Because the reality is that growth rates fluctuate throughout - that’s how investments behave.

Some years will be up some years will be down.

The danger is in the early years, where your withdrawals are higher, and the pot needs to last longer!

Holding cash could reduce the long term growth expectation but will reduce volatility.

The best tool you have in your toolbox is the ability to flex income.

What do you want me to do next?

⚠️ This content is not financial advice and should be used for educational purposes only. We recommend you do your own research and consider taking personal advice before making any financial decisions.

Is this controversial?

I don’t think so…

⚠️ This content is not financial advice and should be used for educational purposes only. We recommend you do your own research and consider taking personal advice before making any financial decisions.

Watch out for this…

A lot of people love the idea of accessing their pension as soon as they hit 55.

Not automatically a bad idea - but it does cause some potential issues.

Outside of spending money that might be useful for retirement:

1) Any taxable income or lump sum taken will be added to your taxable income in the year it’s taken - if you’re still working this could be higher than it will ever be.

2) Taking taxable income could trigger the MPAA - limiting future contributions to £10k/yr.

If there’s ever a time where advice is worthwhile - it’s when you’re ready to access!

⚠️ This content is not financial advice and should be used for educational purposes only. We recommend you do your own research and consider taking personal advice before making any financial decisions.

From April 2028, pensions are changing…

The normal pension age will go from 55 to 57.

That creates a two-year gap.

If you’re hitting age 55 in the next year or two, you will gain access. From April 2028, that option disappears when the rules change — then reopens once you hit 57.

But here’s the exception for all of us most people miss.

And it’s one that could benefit all of us.

Some pensions carry a “protected pension age” of 55.

If your scheme gave you an unqualified right to access it at 55 before April 2023, that protection can stick — even for new money you add, and even if you transfer it elsewhere.

One thing worth doing: call your provider and ask if you qualify. If you do, and you might need access before 57, it’s a big factor before you consolidate anything.

⚠️ This content is not financial advice and should be used for educational purposes only. We recommend you do your own research and consider taking personal advice before making any financial decisions.

Paying less tax in retirement…

It’s all about stacking income.

When you’re a couple, you have 2 personal allowances, 2 20% tax brackets.

This is the bit to use strategically.

⚠️ This content is not financial advice and should be used for educational purposes only. We recommend you do your own research and consider taking personal advice before making any financial decisions.

Top 5 Financial Goals.

Is this your top 5?

⚠️ This content is not financial advice and should be used for educational purposes only. We recommend you do your own research and consider taking personal advice before making any financial decisions.

Not many know about no 5.

That being said…

For long term growth, if it’s outside ISA wrappers - it’s got to be a GIA.

What do you think?

⚠️ This content is not financial advice and should be used for educational purposes only. We recommend you do your own research and consider taking personal advice before making any financial decisions.