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  • About to retire,and can’t decide how to invest my pension.Any suggestions/advice greatly appreciated.I will get a lump sum,and do l need to see a financial advisor? Thanks.

    Posted by Donna60
    • Reply by Fluff

      Think I may have a go at Premium Bonds.

    • Reply by Dreamyboy

      It depends on your circumstances Donna – I took early retirement (55)and as we had already paid our mortgage we were unsure what to do with the the money as no bank or building society would give us a good rate of return on my lump sum…… So after a lot of searching we purchased a property up north (we couldn’t afford the prices down south) and rented it out so we are guaranteed a monthly income at a vastly higher rate. But as I say it all depends on your own circumstances – hope this has helped.

    • Reply by CraftyQuilter

      You can have a chat with an advisor from Pensionwise for free. Which may help you understand your options.

    • Reply by Toffee196

      Morning Donna. I suggest you work ‘backwards’. In the first instance, consider how much income you need on a monthly basis (taking into account a fund for holidays / clothes / treats etc). This will help you decide how much of your lump sum you should keep liquid and how much you can tuck away longer term. In my view, I wouldn’t consider investing in property to rent out these days due to the law being so much in the tenant’s favour. I invested most of my lump sum in Funds through Hargreaves Lansdown and have not been disappointed. Kev

      • Reply by Philip from London

        For working out my retirement I found Guiide really helplful. (www.guiide.co.uk) …it’s free and not complicated