Episode 172 – Retirement Pension Income Case Studies II
Time finally to round off the series on retirement options with one more case study, and a short summing-up of the whole series.
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Time finally to round off the series on retirement options with one more case study, and a short summing-up of the whole series.
Time to round up the series, and in typical style it’s going to take me two videos to do it! I want to go through a couple of case studies where you can see how one might choose a particular form of retirement pension income based on a given set of circumstances. I doubt that these circumstances will match any viewers’ exactly, but in any case, ALWAYS seek advice before making this massive decision. Location: Jacksons Wealth
Here I discuss the pros and cons of the last of your main pension options, income drawdown. I also talk briefly about the kinds of people for whom Drawdown may be suitable, though you should always take advice when considering pension income options.
Investment Backed Annuities are a little-used but potentially worthy option for retirement income. Here, I explain the pros and cons and look at the kinds of people for whom they may be suitable. Always seek advice before making a decision about your retirement income though.
Similar to the lifetime annuities we talked about last time, fixed term annuities offer an annuity for (wait for it!) a fixed term. All is explained in this video along with pros and cons of this option, and a discussion of the kinds of people for whom these may be suitable. Always seek advice for your own circumstances though.
The first and most often taken-up option for turning your pension fund into an income is a lifetime annuity. Here, I explain the pros and cons and describe the types of people for whom an annuity may be a good choice. Always take advice of course, as this is a really big, important decision.