The further I have looked at This, the more bewildered I have become.

I genuinely thought it would be an easy(ish) process.

I’m not against paying for good advice, everyone has to make a living, I certainly didn’t work for free…

But 3% of my total pension fund, plus 0.5% a year to the IFA is a little high in my opinion. Then there are the individual fund management fees of typically 0.5% as well.

All included in this is the fact that the money is floated on the stock market and the value is subject to the world economy.

Yep, I know that there are no guarantees in life, but it does seem like the pension fund(s) that I have always paid into now have a captive market to provide them with money from our collective pension pots.

I’m almost tempted to take a short term 6 year annuity to top up my final salary pension until I’m 66 (in six years time)to protect the savings I have (albeit in ISA’s).
At least this way I am in control of my finances, without worrying about the performance of the stock market and how much I might have lost or gained in the last month.

I would rather be getting on with life without work and riding my bike up at Afan and the South Wales routes.

11
Regards

Denis

On reflection and a sleep, it might just be easier to do nothing for the moment.

I don’t plan on accessing any of the funds for the next 5 years.
It’s the high cost of the IFA advisor, the 0.5% management fees plus the individual fund fees that are putting me off.

I could look at doing what mudshark has said in my own time over the next year or two,

My ultimate aim is to use the drawdown facility, don’t want to buy an annuity at the very low rates currently being offered.

Regards

Denis

The key for me in going with the IFA is that in the next 4 or 5 years I can access the flexible drawdown with 25% tax free , with the new government regs etc.

This way the new single fund becomes a different type of bank account that gains interest over and above the bank rate.

Not without risk , life is a risk though……, but over time should be ok and even itself out.

I went through a risk assessment, my tolerance to risk etc and scored a 6, which was slightly more risk than the IFA. Had imagined I would accept.

Therefore the portfolio of investments is slightly more conservative than I might have originally gone with.

Annual reviews of fund performance will be included, but not too concerned on the very short term performance, more concerned with the fund value after 3 to 5 years.

Thanks Alan

I just have a slight difficulty in shelling out £2,700 for the transfer of my existing three pension pots into one stocks and shares portfolio really.

Not too worried about the risk, but £2,700 initial payout to IFA will take one to years worth of interest to recoup.

Hadn’t realised that there was such interest in the Ritchey Logic.

Built this up about two weeks ago, very similar to Hora’s build.

Classic white bar tape for me though.

Rides very well, as it should, the guys at Skyline Cycles weighed it for me, came in bang on 19lbs.

Regards

Denis

Thanks for the comments congratulating me.

I have two new bikes to enjoy now.

Cannondale F29 Carbon Lefty,

Ritchey Logic road bike.

Sun is shining here in South Wales right now, hope it turns out to be a good summer!

Beer sounds a good option to me…..

One of my new hobbies will be home brew in the garage, I can see more time spent in the garage than ever before………

I finish work tomorrow and am retiring.

I am 60.

My plan is to mix it up a bit.

Ride one day, gym the next concentrating on a different muscle set as opposed to aerobic activity.

Regaining my fitness at present, so a mix of road and off road riding.

Also plan to put some yoga in there as well for flexibility.

Variety of exercise will be my goal, I’m not too concerned with slowing down , more concerned with getting out there and enjoying the riding.

Orange P7.

The 17″ felt like a toy, so I bought a 19″.

The 19″ felt like a gate.

Just couldn’t get on with it, I know its alot of peoples favourite though.

I rode alot of Audax events in the late 80’s and early 90’s.

A had some good rides at all the distances up to and including 600k.

In the end, I just got a little fed up of traveling to start points to ride my bike.

I prefer to explore the area I live in more and just travel a short(ish) distance to do more exploring now.

But, I did have a good time, just sort of got tired of the same sort of formula of the rides in the end.

Met some nice folk though.

Just want to add my support.

Condolences to you and your family.

Take care.

I like it as well.

Often thought about a rigid frame with fat(ish) wheels and tyres) to absorb some of the trail ride.

Must get a demo on one soon.

I’m going to desticker the rims on the Cannondale, thanks for the comments.

Two more weeks of work, and then my time is my own (at last).

Maybe a simple option , but , how about opening a Santander 123 account.

Pays 3% on balances up to £20,000.

thanks

Cheers.

Don’t fancy using the Shimano pin though – never liked them.

Is it ok to use a sram 11 speed link?

Yes.

You have to follow your passions, do it.

I have been riding motorbikes on and off (family commitments and lack of undos stopped me when the kids were young).

gone

I had an Equitable Life pension fund – it was part of a final salary pension AVC fund. The final salary pension was from my employer who I worked for 25 years. Equitable Life was their recommended AVC provider.

Fortunately I didn’t have too much money in the AVC, it didn’t perform very well though.

I am in a similar situation.

I am 60 now and have decided to retire :-)

I have three company pensions, and have sought IFA advice as I wouldn’t be able to handle / make decisions on the fund management myself ( too much money involved).

I’ll update when I have the advice , but its the individual fund management costs that are driving me to this. Three fund management costs vs one.

Global, I had one of their titanium frames. Can only assume that they went out of business in the last decade.

Thanks

I live near Afan , South Wales.

Looks like. I have the basis here to begin my own brewing, thanks.

I find it ironic that our lives have been “improved” by time saving practices / vehicles/ utilities / on line stuff.

Yet we are in a greater rush than ever……

Skoda Fabia Scout ( the estate version of the Fabia)1.6 105hp diesel.

Town 50mpg

Motorway 58 to 65 mpg

served a four year apprenticeship in a ship repair yard.

Introduced me to hard work at an early stage, met and learnt a lot from craftsmen. Most of those craft skills have gone now, blacksmith, coppersmiths, boilermakers, riggers, engineers.

Long hours, no health and safety (apart from the government sign at the clocking in station).

The salt gets under the seals and crystallises, this hardens and attaches to the piston surface causing the corrosion and scoring.

A blast of clean cold water after a ride is better than nothing, follow with a spray of brake cleaner behind the pads helps keep the crud at bay.

Motorbikes ridden in winter with road salt suffer the same issue.

Have to remove the pads and force Pistons out slightly. Then carefully clean and polish the piston .

Push the Pistons in and out to ensure they move freely.

I apply a very thin coating of red piston grease to the piston surface area to ensure they move freely and have a little protection from the salt.

I don’t ride my motorbike if salt is on the road now though, just too much hassle and damage caused to the motorbike.

Can’t comment directly on the trail conditions, as I am off the bike at the moment due to an injury.

Ground here is frozen though, I only live 5 miles from the top of The Wall section.

There will be quite a bit of ice up there I would have thought.

Give Skyline Cycles a ring, I’m sure they could give a better summary of the trails.

Resurrecting the original post, just to thank everyone for their comments and advice.

Returned to work on Monday of this week, my boss had basically offered me a supporting role , working for my current job position.

Sheer coincidence has seen me injure my left tibia in the gym, ironic , but I can hardly walk now. Been to the doctors and had a x Ray also.

I’m sure it will be ok after resting etc, but as a result I’m not in work again.

This is not like me at. All.

However, seeing that I have a better state of mind and lower stress, as a result of beginning to get body and mind better, I am going to hand my notice in on Monday.

Going back , even for the short term, is just not an option for me now.

I would prefer to get the people who have contributed to the work stress situation out of my life.

Haven’t got any job to go to, turn 60 at the end of the month.

Will resume the gym when fit enough, have bought a bike again, will spend time getting body and mind healthy.

Will probably look for a lower paid job, less stress and be happy with a new work life balance , probably in 6 months time or so.

The best advice I had, was to carefully choose the installer.

The cheapest quotes were not what I went with.

All the people who gave me quote ( bar the one I chose), didn’t mention strengthening the roof joists.

He said the weight of the solar panels was too great without the additional work. He also explained the differences in the solar panels from manufacturer to manufacturer.

If you live in South Wales, I can firmly recommend him.

HI Gray,

I live in Neath,very near Afan.

I’ve had solar panels for about 18 months now.

Bought them outright.

Got good advice of this very forum.

The installer was excellent, a very good job completed within one week.

I have an ideal South facing roof to maximise the solar panels.

Cost £7000 to install.

Was paid £750 in the first year from the grid (FIT), and saved about £200 off our total energy costs for the same year.

Good for the planet, and good for me.

If you have the money and don’t plan on moving anytime soon, it’s a good return on your cash.

I bought a Skoda Fabia estate new two years ago. its a 1.6 diesel 105bhp.

I chose the diesel over the petrol, but in hindsight I would choose the petrol version now.

The only factor governing my choice was I prefer the diesel torque. Financially ( for me) its not worth it.

Not to hijack the thread, but I have come to a similar conclusion recently, search threads started by me for further info.

Had a month off work to consider my future, very similar in terms of stress, responsibility and wondering what I am doing in life.

I return to work tomorrow morning, much calmer.

My working life in my current role and employer is now very near its end.

I’ll have left one way or another in the next 3 months.

Looking forward to firstly having the spring off, never been out of work ever.
Then look for some short term temporary / contract work.

Will change my lifestyle, as the current situation is just not worth the hassle and stress etc.

Sorted.

Went for some practical advice at Skyline Cycles ( my local bikeshop). who are always very helpful.

Understand how to do it now, not quite sure that my track pump could have got the volume of air required, but other than that , very easy.

Cheers, sounds good.

Still yet to ride the new bike off road yet.

Building my fitness in the gym at the moment.

Thanks for the advice.

I haven’t got any sealant, but will get some and then refit tyres.

Ta very much, two large ordered.