The majority of people are not financially illiterate as they had the nous to take out private pensions knowing that a state pension would not be enough to live on. Yes, we all know about the con men in the pensions and banking arena, but the majority are much wiser now. Stay away from them. Take time to research the options, and there will be many. Take independent advice, not from your bank, or your mate in the pub, and the 40,000 or less, can work for you. Also, you are possibly married, so capitalize on this and put the two pots together and enjoy a higher return. Many people will think about about starting their own business for the first time, buy-to-let is a safe option as your initial investment will not be lost. Your capital value will increase and the rent will supplement your state pension. If you have no wife then find a mate who is the same position, visit a solicitor who will draw up a partnership contract, or buy a ready written standard one from any large stationers and away you go. You never know, in the words of Del Boy, "this time next year we'll be millionaires". So, Mr. Doom and Gloom, everybody is thick except me, Brook. stop giving out negative signals, for most people it is the chance of a life time.
Michael Brook - 9 years ago
The fact that the majority of people are financially illiterate will leave them open to the financial con-men, crooks and financial institutions who have been robbing the public with high fees,churning of assets and other devious financial chicanery for years.
I have saved over the years and would not spend everything as soon as i could acces it, but many with small pots , below £40000 will becaus
e that is not enough to live on.
The majority of people are not financially illiterate as they had the nous to take out private pensions knowing that a state pension would not be enough to live on. Yes, we all know about the con men in the pensions and banking arena, but the majority are much wiser now. Stay away from them. Take time to research the options, and there will be many. Take independent advice, not from your bank, or your mate in the pub, and the 40,000 or less, can work for you. Also, you are possibly married, so capitalize on this and put the two pots together and enjoy a higher return. Many people will think about about starting their own business for the first time, buy-to-let is a safe option as your initial investment will not be lost. Your capital value will increase and the rent will supplement your state pension. If you have no wife then find a mate who is the same position, visit a solicitor who will draw up a partnership contract, or buy a ready written standard one from any large stationers and away you go. You never know, in the words of Del Boy, "this time next year we'll be millionaires". So, Mr. Doom and Gloom, everybody is thick except me, Brook. stop giving out negative signals, for most people it is the chance of a life time.
The fact that the majority of people are financially illiterate will leave them open to the financial con-men, crooks and financial institutions who have been robbing the public with high fees,churning of assets and other devious financial chicanery for years.
I have saved over the years and would not spend everything as soon as i could acces it, but many with small pots , below £40000 will becaus
e that is not enough to live on.