You are unauthorized to view this page. Username or E-mail Password Remember Me Forgot Password In this video: 00:00:09 - Intro 00:01:16 - I'm no economist, but it feels like global economies are facing a hugely disruptive period. UK inflation has been almost level at around 2% for the past 30 years, and interest rates have been low for the past 15 years. My entire investing life has been covered by this fairly stable period, and now these have both changed rapidly in recent months. How confident are you that the traditional passive stocks/bonds portfolios will serve us well in these more turbulent times, especially given the recent positive correlation between equities and bonds. Are there any other financial instruments I could investigate to provide further protection, or are they solely the preserve of investment banks? 00:09:32 - Really enjoying the academy. How does VoyantGo treat LTA payment and calculation behind the scenes when you have DB, Scheme pays, DC lump sum and income drawdown options and combinations? 00:14:53 - How do you model SJP 15 year Investment bonds that pay out 5% tax free for 20 years. 00:17:35 - If you're in your mid-fifties with no significant savings, but a good income, how would you begin to invest for the future considering the current market/interest rates/inflation? Is it too late to start a private pension if you plan to retire within about 10 years? Would you max out S&S ISAs? What risk level should you take? 00:19:27 - I'm still working and my pension pot is in the zone for an LTA charge at some point so in line with some comments during a previous Q&A I’ve reduced my contributions and I’m planning to invest in a VCT instead. I’m pretty sure I know how it all works in principle… benefits & risks etc. but I understand that when I come to sell I need to use a Stock Broker. Everything I’ve done so far has been through platforms (Fidelity & AJ Bell) so this is new territory for me. I also believe that some platforms are able to handle the transaction too. Do you have any guidance on how best to approach this please? … also, if there’s a buy-back scheme on offer do I still need to use a Stock Broker? 00:22:33 - Having completed the Retirement Planning course, I am loving the fact I am now able to describe myself as a reasonably competent "Voyant Go driver"! However, I still value the relationship with my Financial Advisor and in particular having him as a regular sounding board. In preparation for our last review meeting, we went through a process of synchronising our respective versions of my financial picture on Voyant, but that really was a bit of a faff and I'm wondering whether there is a way that my advisor can have access to my own Meaningful Academy plan? Is it as simple as him "pretending" to be me and logging in accordingly? 00:23:53 - I have two sons; one in the UK and one in Canada. The one in Canada has been out of the UK for 10 years and is likely to become a Canadian national in the next year or so. He has never paid tax in the UK. When I die, 50% of my SIPP is nominated to go to my son in Canada. In your experience, what difficulties if any will my son face in getting the funds from my SIPP? 00:25:46 - Not totally financially related Pete but significant in my view. I recently had fraudulent activity on both my mobile phone and then a bank account which sadly had to be escalated to Action Fraud. Cannot go into details unfortunately but since that time I have had to study and try to understand quickly how to ring fence sensitive & personal identity data. It’s an extremely unsettling problem to experience. The fraud division locally to me said they have at least 100 similar reports per week. I have to say knowing what I know now, it’s frightening as to what is happening in the UK with often poor security procedures by some of the biggest financial institutions. Let alone how Google & Microsoft are capturing sensitive data without us knowing. I know you have previously mentioned using passport managers. I think you mentioned LastPass. I have also looked into physical digital keys. Sadly, many financial institutions won’t accept them including some of the largest portfolio platforms. Would appreciate your views on the use of passport managers or the like. Especially given the massive use of budgeting apps in the UK for open banking even though they operate with high level encryption. I would add though, open banking wasn’t the issue for me. 00:28:32 - Decided to retire early in 2021 and just started the course so this may already be covered but I'd appreciate Pete's thoughts re: consciously only using S&S ISAs or a GIA to hold "income" generating investments such that dividend distributions are either tax-free or taxed at 8.75% respectively, vs doing so within a SIPP wrapper where at best, dividend drawdowns will always attract basic rate tax as a minimum (assuming the 25% TF element has already been taken). From this, my impression is that it is always better to invest SIPP-held funds for the longer term in accumulating growth rather than dividend-generating investments. It would also be interesting to hear Pete's view on Discounted Gift Trusts as a way of using a lump sum to secure a monthly tax-free amount (non index-linked) since it is deemed a capital withdrawal if <5% per annum with the additional advantage that an "agreed" proportion of the lump sum is immediately outside one's estate for IHT on creation and the remainder after 7 years. 00:35:40 - What would you do with £250k in cash, if you will need it in 2-3 years? 00:36:30 - Can i use VoyantGo to model harvesting of CGT in a GIA. I keep getting pinged for CGT in my model which in reality I'll try to avoid. I believe i can switch funds, transfer to spouse or stay out of the market for 30 days. Im happy to lose a bit of capital gain in the name of simplicity and retaining the will to live. 00:40:29 - What is the best way to model a DB scheme, in Voyant Go, which kicks of payments part way through the 2022/2023 tax year and from which I plan take 25% tax free lump sum? I understand that for the 1st part year, I should model this as a one off income in 2022/2023, and show the DB pension starting payments the following year 2023/2024. But then how do I show the lump sum coming in 2022/2023? Also, how will this affect the LTA, do I need to set the used LTA in the Carry Forward? Should I show the DB pension as a deferred pension or in payment as first full year of payment, in Voyant, will be 2023/2024 although in reality the payments start part way through 2022/2023? 00:43:48 - I have a question about taking a CETV from a DB scheme and managing it myself in my existing SIPP. I appreciate that I will need to seek proper advice but am interested in your thoughts and insights. My situation is that I am 63, finished work, and am in the fortunate position of having several DB pensions, a SIPP and savings which are enough to pay for a comfortable retirement. I am considering taking a CETV for one of my larger DB pensions and transferring it into my SIPP on the basis that it should ultimately bolster my ability to leave a legacy when I die, even with only modest growth in the SIPP for the amount transferred. My basic needs and quite a lot of my luxury spend will be met by the remaining DB pensions and State pension, so even if SIPP performance is disastrous it wouldn’t have a serious impact on my retirement lifestyle. Everything I’ve read about getting regulated FA sign-off points to it generally being regarded as not to be in the best interests of the DB member unless there is a health issue. Do you think my scenario would fall into this category of not being in my best interests or is it the case that once you’ve demonstrated that your other pensions / savings meet your retirement needs then generally most CETVs are approved? Also am I likely to find an adviser who could do the review/approval work for a one-off fee without wanting to manage the investments and collect an ongoing annual fee? Is there anything else to consider? 00:48:20 - Can it ever make sense to borrow against a previously unencumbered rental property as an alternative to drawing tax free cash from a maturing DB pension? 00:49:52 - Can Voyant show us what tax allowances are unused, by year and by person in the plan (perhaps in a report)? I would like to identify these so that I can make additional pension withdrawals in these years and save tax. 00:52:44 - I was playing around with Voyant to model taking 25% tax free lump sum from a DB pension and I discovered that Voyant considers any surplus income in any one year as spent. I saw a Voyant video that shows you how to put all surplus income into a cash account (or any other account you choose). My question is when you make these type of changes, are they retained when you copy and/or promote a plan OR do you have to apply the changes again in the new plan? 00:54:08 - I have a Limited Company that owns 2 Buy To Let rental properties, owned jointly with my wife. So just started using VoyantGo and I’ve watched Pete’s ‘Adding Business Assets’ academy video which suggests adding as a ‘Business Property’, so doing this I notice :- Business Asset / Business Property - Where do I put the assets of the 2 Rental Properties, I can put the ‘Market Value’ of the Business as sum of my 2 rental properties, but perhaps the business’s value is more than just their value, and there’s mortgages too, see next. - If I put a ‘Linked Debit’ for the 2 BTL Mortgages I have in the Ltd Company then the Voyant starts deducting the repayments from my household income. So I had to delete the Linked Debt and now I don’t have it anywhere. - Also need to model 2K dividends (at minimum) from my BTL Limited Company each Year to myself and my wife - so I added this to the ‘Business Asset’ as ‘Linked Income’ - is this the best way ? Or just put as a Investment GIA - need the 2K tax free amount per person to be taken into account - I think it is. - Would be nice to have way to model BTL expenses and rental income in the Limited Company in Voyant, is there a way ? Or do I pretend we own the BTL Properties personally to get fuller features of income/expenses for them, but perhaps just put their net income (as already had corporation tax inside Ltd Company) Suggestions appreciated Prev LessonNext Lesson