Why a Self Invested Personal Pension is the best account for stock pickers

[@Larry1-pl2wq]

A SIPP seems perfect if you want more control over your investments. You can choose your own stocks, funds, and other assets, which is appealing if you’re confident in your ability to pick winners.

[@Daisy-xyq]

Yeah, I’ve been considering a SIPP too. The flexibility is what really stands out to me. You’re not tied down to a specific set of funds like you are with some other pension plans. It gives you the freedom to tailor your portfolio exactly how you want it

[@Bigwilli123]

That’s true, but it’s also a double-edged sword, right? With that much control comes a lot of responsibility. If your stock picks don’t perform well, it could really hurt your retirement savings. It’s not something to take lightly.

[@Colbe-lx7fb]

I’ve been managing my own investments for years, but I’ve made some mistakes along the way. Having the ability to pick your own stocks is great, but it also means you need to be really disciplined and stay on top of things. It’s not for everyone.

[@Sanchyfab]

I’ve thought about a SIPP, but I’m not sure I have the time or the expertise to manage it properly. I’ve done okay with my investments, but with retirement getting closer, I’m starting to wonder if I should be getting some professional advice.

[@Robby767]

I’ve actually been working with Eric Paul Elmer for a while now, and he’s been a huge help. He’s got years of experience and knows how to balance risk and reward, especially with something like a SIPP. He’s helped me pick stocks that align with my long-term goals while keeping my portfolio diversified.

[@adrianroebuck6497]

Another good video thanks. I am 55+ and have two deferred employee pensions, can I start a SIPP to optimise the tax benefits even though I have the defined benefit ones? If I did and wanted to withdraw in say 5 years, is this possible?

[@raymondwebb4179]

You didn’t mention saving for grandchildren, I did for mine now at the age of twenty they have a nice nest egg , / the power of compounding, and of course the 20% tax uplift, I am with HL,

[@carlrobertsonmoney]

A very good point. A junior SIPP is a great idea or even just paying into a normal SIPP for adult children/grandchildren.

[@Benzknees]

Whilst SIPPs are great in theory, as we've seen recently politicians can tinker with them to pay for their 'green' boondoggle schemes and massive payrises to favoured public sector workers on gold plated DB pensions.

[@carlrobertsonmoney]

Certainly true. Good to be diversified, having different assets to protect your wealth.

[@mattjames88]

The government also mess with our DB schemes too. Hence why I have a SIPP

[@adrianroebuck6497]

If you have some "spare" money, can you invest money in a SIPP even you have defined benefit pensions that you have contributed to?

[@razza1887]

Yes, I have two DB pensions and I also have a SIPP

[@sandrastewart2450]

Dont have shares i lost money on share they are rouges and liers

[@Benzknees]

That's like saying don't use Amazon because you had bad luck with one out of millions of products on there.