21 күн бұрын
21 күн бұрын
21 күн бұрын
21 күн бұрын
Ай бұрын
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6 ай бұрын
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@paediatriciandoctorzahidhu8360 8 сағат бұрын
Please explain ... in the 2015 scheme How to calculate total pension pot? No lumpsum withdrawal option in the 2015 scheme?
@JeffAicken Ай бұрын
Useful video! Despite being in NILGOSC with an LGPS pension, my employer was unaware if they could support Shared Costs AVCs, but confirmed they did support 'standard' AVCs. I am currently paying into a 'standard' AVC but I am not getting ANY tax relief on my contributions to it. If I am contributing to a non-shared cost AVC, do I have to go through a process of claiming back the tax relief myself? Thanks.
@mymoneymattersuk 27 күн бұрын
Hi Jeff, Standard AVCs are taken as gross deductions from pay before income tax. If you are a tax payer you will automatically get tax relief at source through your payslip. There is no need to claim the tax relief back yourself. Thanks
@JeffAicken 26 күн бұрын
@@mymoneymattersuk Thank you so much for responding, I messaged the Pru at the end of last week and they also confirmed that the tax relief should've been automatic, and done through payroll. Will hopefully get this sorted soon: if I'm given the option, I'll top up the 'missing' amount back into the AVC. Just a pity that they don't also do the additional NI saving too that many others apparently enjoy!
@PeteLewis1967 2 ай бұрын
Thanks for this, it was really useful. Cheers.
@Derek-Trotter 2 ай бұрын
are they backed 100% by investments or do you rely on government promises?
@honorburza9110 2 ай бұрын
Great explanation
@eltonmuchemwa2276 3 ай бұрын
This guy is useless
@FlossieSmith-q9l 3 ай бұрын
Muller Club
@BraxtonScott452 4 ай бұрын
Yes you might say that but More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. .
@OliverTilney 4 ай бұрын
I retired 7 1/2 years ago. My wife retired two years later also at age 62. To date we have not touched a dime of our retirement savings. We are having zero issues living on nothing more than our Social Security. What's our secret? Simple, we retired debt free. Just remember it matters more how much you own than it does how much you have. It's a simple plan. Take care of your debt before you retired and eliminate money worries after you retire.
@BEAUTIFULDIANAFRANCIS 4 ай бұрын
In my opinion Al will be the next big thing. Refraining from making snap decisions based on transient fluctuations is essential for long-term growth similar to META. Put patience and a long-term view first, and if you want to make well-informed purchasing and selling decisions, consult a financial advisor.
@BraxtonScott452 4 ай бұрын
I see no reason for stressing yourself over these things when you can get a finacial advisor . A financial advisor can help you determine if dividend investing is a good fit for your financial goals and can help you develop a strategy. They can also help you consider your risk tolerance, liquidity needs, and short- and long-term goals. Consulting a financial advisor can be especially helpful if you're new to buying and selling individual dividend stocks. You can also ask your advisor questions about reinvesting your dividends .
@Bannink_SOL 4 ай бұрын
I have always saved and invested roughly 60% of my salary since I began working in 2009, I max out my 401(k), ira, and hsa accounts. I am 50 years old. I'll pass the $4 million threshold this month. I have a 100% investment in Vanguard ETFs and several blue chip equities. Avoiding debt and cutting expenses are my two money-saving secrets. I make passive investments with the help of Cynthia Depken my FA who manages my portfolio and makes sure I outperform the market.
@DE-Burrows 4 ай бұрын
@@Bannink_SOL That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
@LeslieWagenheim 4 ай бұрын
Cynthia Mcclure Alexander is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
@Bannink_SOL 4 ай бұрын
@@DE-Burrows Cynthia Alexandra Depken is the licensed fiduciary I use for guidance . I do not think self-investing worth is worth it from my experence . Some may have no account minimums and charge annual management fees of less than 0.5% per amount managed. Self-directed investment accounts have the lowest fees and give you the most freedom, but the risks are higher. A safer choice is to hire a financial advisor and let them guide your investment strategy.
@BEAUTIFULDIANAFRANCIS 4 ай бұрын
Only if a good amount of folks do what you teach, just imagine how many millionaires we already have or will have in the future. I have been looking at similar opportunities. As Warren Buffet noted, he has witnessed this occur frequently. Never did my husband and I make more money than others in the middle class. With a $250k stock portfolio, we intend to retire at age 58. Never have we ever sold even one share of stock...
@Bannink_SOL 4 ай бұрын
Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
@MarcelinaMakowski 4 ай бұрын
@@Bannink_SOL Focus on two key objectives. Learn when to sell stocks to minimize losses and maximize gains to start protecting yourself. Second, prepare to make money when the market turns around. I advise speaking with a broker or financial counselor.
@BEAUTIFULDIANAFRANCIS 4 ай бұрын
I have always saved and invested roughly 60% of my salary since I began working in 2009, I max out my 401(k), ira, and hsa accounts. I am 50 years old. I'll pass the $4 million threshold this month. I have a 100% investment in Vanguard ETFs and several blue chip equities. Avoiding debt and cutting expenses are my two money-saving secrets. I make passive investments with the help of Cynthia Depken my FA who manages my portfolio and makes sure I outperform the market.
@AnnBurrow-vb8tt 4 ай бұрын
That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
@BEAUTIFULDIANAFRANCIS 4 ай бұрын
@@AnnBurrow-vb8tt Cynthia Alexandra Depken
@BraxtonScott452 4 ай бұрын
I have always saved and invested roughly 60% of my salary since I began working in 2009, I max out my 401(k), ira, and hsa accounts. I am 50 years old. I'll pass the $4 million threshold this month. I have a 100% investment in Vanguard ETFs and several blue chip equities. Avoiding debt and cutting expenses are my two money-saving secrets. I make passive investments with the help of Cynthia Depken my FA who manages my portfolio and makes sure I outperform the market.
@MarcelinaMakowski 4 ай бұрын
Thanks for sharing. I curiously searched for Cynthia full name and her website popped up immediately. I looked through her records and with diligence she is able to the task.
@DE-Burrows 4 ай бұрын
Scott, we have invested money through Cynthia for nearly 15 years. The market had its ups and downs, but it did very well for us in the long run. With my pension, social security, and investments we can live comfortably. We can now fully enjoy our hobbies, travel, family, and making new acquaintances.
@BEAUTIFULDIANAFRANCIS 4 ай бұрын
That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
@BraxtonScott452 4 ай бұрын
@@BEAUTIFULDIANAFRANCIS Cynthia Alexandra Depken
@BraxtonScott452 4 ай бұрын
Cynthia Alexandra Depken is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
@santajusta4821 4 ай бұрын
I have always saved and invested roughly 60% of my salary since I began working in 2009, I max out my 401(k), ira, and hsa accounts. I am 50 years old. I'll pass the $4 million threshold this month. I have a 100% investment in Vanguard ETFs and several blue chip equities. Avoiding debt and cutting expenses are my two money-saving secrets. I make passive investments with the help of Cynthia Depken my FA who manages my portfolio and makes sure I outperform the market.
@MarcelinaMakowski 4 ай бұрын
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
@awesome.tricks 4 ай бұрын
I wanted to reach out and say how much I appreciate your videos on the NHS pension scheme. Having watched numerous videos on the subject, I must confess that yours are by far the most well-explained and well-presented. Your clarity has made navigating this complex topic much easier. I’m 57 and recently left the NHS. As I'm in both the 1995 and 2015 pension schemes, I've downloaded the AW8P form and requested a pension estimate. I plan to claim 25% of my pension but find the process of completing the AW8P form a bit daunting. Would you be kind enough to consider making a video that walks through the AW8P form in detail? I believe it would be incredibly helpful for many others in a similar situation. Thank you for all the invaluable content you create!
@MENSA.lady2 5 ай бұрын
Here in the UK you can retire at time you choose. The only problem is financing your retirement. I planned carefully and retired at 54. You can do it to.
@TROZJAN 6 ай бұрын
Paying prudential shared avc with my Strathclyde pension fund this calculator for that or something completely different
@kalpnashah4030 6 ай бұрын
Can AVC be passed to children is it outside IHT
@Thaitanium73 3 ай бұрын
Yes, they fall outside of inheritance tax
@kalpnashah4030 3 ай бұрын
Thank you I recently started my AVC with pru via lgps. Decided to go for global equity fund as I need inflation busting returns hopefully! Thank you for education really helped to educate me !
@TROZJAN 6 ай бұрын
Started watching AVCwise videos but never explained this as well also didn’t say get in touch with AVCwise to help set up so contacted prudential myself to set up hope if selected correct product
@anguswilliams6745 8 ай бұрын
Do all local authorities offer the shared AVC?
@curiousjoe395 9 ай бұрын
When and how long do the benefits continue for the partner if the member passes away? Does it change if the member passes away before or after taking pension income? Thanks
@SusanERicks 9 ай бұрын
If you sacrifice salary into AVC scheme will that affect the annual pension amount on the 1995 and 2007 scheme?
@splottcardiff3993 10 ай бұрын
Very informative 👍. A session accompanied by representative from PRU on ‘fund options’ would be useful too. Just to do a ‘whistle stop’ tour on options and what weightings are allocated to bonds/stocks, etc.
@minimmenon 11 ай бұрын
Very useful, thank you
@yussepig6629 Жыл бұрын
So retiring at 67 you go from potentially £100 k per year down to only £15 k per year ? Wow that’s a big drop. You gotta save a hell of a lot
@JeffAicken Жыл бұрын
Thanks for taking the time to explain this properly, using a fictional but relatable scenario!
@vicg9439 Жыл бұрын
What if i want to stop working at 45 years old. What will it do to me? Can i still have my pension right away or i will get it at retirement age
@mariagheorghe7139 6 ай бұрын
At retirement age
@nicholasshea3034 Жыл бұрын
Hi, I’m currently contributing via monthly AVC payments. How do I apply for salary sacrifice AVCs? I have 17 months left before I retire.
@splottcardiff3993 Жыл бұрын
PLEASE PLEASE PLEASE upload more long KZbin clips.. find them very informative and education whilst jogging. But, in a non boring fun way 👏👏👏
@TROZJAN Жыл бұрын
Paying less to your NI does that affect your state pension
@TROZJAN Жыл бұрын
Was trying to register i work for north Lanarkshire council, Airdrie/coatbridge are but can’t find my organisation in the list to make up my account any help would be great.
@mymoneymattersuk Жыл бұрын
Hi there, North Lanarkshire are still in the process of launching with us, so that is why you won't be able to see your employer on the list or register yet. Your employer should let you know when they are launched with AVC Wise and they will send out information around signing up for a Shared Cost AVC. Many Thanks
@TROZJAN Жыл бұрын
@@mymoneymattersuk what’s difference with shared cost AVCs and normal AVCs. There’s already colleges in my work that have AVCs set up and are paying strange. That’s how I found out about it.
@mymoneymattersuk Жыл бұрын
@@TROZJAN With a Shared Cost AVC you are saving on Income Tax and National Insurance, where as with a Standard AVC you would only be saving on Income Tax. Many Thanks
@AliLayHarker Жыл бұрын
Are you suggesting that I can take 100% of the AVC pot as tax free cash IN ADDITION to a 25% tax free pension commencement lump sum from the main LGPS provided they are taken at the same time?
@splottcardiff3993 Жыл бұрын
Can we please have some more recent uploads? Really enjoy them. Thanks
@mdshakhawathosen6913 Жыл бұрын
Very informative.. Thank you
@mrpipspoppersv9093 Жыл бұрын
A very informative video, thank you.
@Ben_Chode_420 Жыл бұрын
Great video mate!
@mymoneymattersuk Жыл бұрын
Come and celebrate with us and join one of our 5th birthday themed webinars here - bit.ly/43JEjbA
@mymoneymattersuk Жыл бұрын
Don’t let another year go by, complete your application here - bit.ly/42r0YZn
@mymoneymattersuk Жыл бұрын
Just like Nigel you could be making the most of Shared Cost AVCs. Check out all the useful resources on our website here - bit.ly/43H5zrj
@splottcardiff3993 Жыл бұрын
Excellent presentation - thank you. Would benefit if you could list (not recommend) private transfer out pension providers if you were looking to do what Sarah did (as listed on the example)
@mymoneymattersuk Жыл бұрын
Thank you for your comment, we would suggest you seek independent financial advice to find an appropriate provider. Alternatively, you could approach any of the large pension brokers to explore setting up a SIPP (Self Invested Personal Pension).
@mymoneymattersuk Жыл бұрын
Have a peek at your potential future pot here - www.home.avcwise.co.uk/calculator
@splottcardiff3993 Жыл бұрын
Absolutely love these sessions. Listen to them whilst doing my daily hike. Would really benefit from a detailed entire session on how you take these benefits at the end - active and loyal member of AVC Wise. Keep up the good work guys 👏👏👏
@mymoneymattersuk Жыл бұрын
Thank you, we are glad you like them! We actually have a new webinar called 'How to access your Shared Cost AVC' that will give you the information on how to take your unique retirement benefit. To book onto one of these webinars, use this link www.avcwise.co.uk/book to sign into your account and head over to the events page.
@splottcardiff3993 2 жыл бұрын
I think it would be beneficial to have a financial advisor on one of these online sessions, as they can give specific examples of efficient draw down methods, if the tax free lump sum exceeds the 25% of the overall pension pot. However, overall i really enjoy these online sessions - keep up the good work!! :)
@peterchapman5862 2 жыл бұрын
As long as your total lump sums from LGPS do not exceed 25% of the combined value of your benefits including your AVC plan ? This is what i dont understand
@peterchapman5862 2 жыл бұрын
Hi, i want to know if i can take the whole amount tax free when i plan to retire early in 4 years. Nobody has been able to give an answer?
@mymasalaguru4055 2 жыл бұрын
I have just taken flexible retirement and took full my full lumpsum giving up some pension ie the £12 for every £1 . Can I now apply to contribute to a shared AVC scheme?
@mymoneymattersuk 2 жыл бұрын
Hi Daksha Simple answer is yes! You are able to do this if you have rejoined the LGPS. However note that if you have already taken flexible retirement and all of your LGPS pension, the ability to take all of the Shared Cost AVC pot back as tax free cash will be limited, as the maximum tax free cash available to take out is 25% of the capital value of your LGPS benefits.
@petersimpson633 2 жыл бұрын
Excellent video, well presented, very informative -thank you