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Tidying up my retirement portfolio...

Including Financial Independence and Retiring Early (FIRE)
genou
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Re: Tidying up my retirement portfolio...

#617659

Postby genou » September 28th, 2023, 12:30 pm

Amaryllis wrote:
I would welcome more comments about my ideas about rebalancing my portfolio. I thought I had taken posters' suggestions on board, so I'm not sure why it might be considered a ragbag?


Since I used the word, I'll reply. You have substantial overlaps between what you are proposing to hold - so S&P /Vanguard/HSBC FTSE /F&C / JPM all have duplicated holdings, so working out what you are actually holding will require more analysis than the raw percentages you quote for them.

Finsbury looks like a bet on Nick Train, which will work until it doesn't.

And you are going to be well overweight the UK, which feels odd.

Amaryllis
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Re: Tidying up my retirement portfolio...

#618026

Postby Amaryllis » September 30th, 2023, 3:51 pm

Thank you - I'll do a bit more homework before I do anything drastic!

kempiejon
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Re: Tidying up my retirement portfolio...

#618041

Postby kempiejon » September 30th, 2023, 6:13 pm

genou wrote:You have substantial overlaps between what you are proposing to hold - so S&P /Vanguard/HSBC FTSE /F&C / JPM all have duplicated holdings, so working out what you are actually holding will require more analysis than the raw percentages you quote for them.

Amaryllis wrote:Thank you - I'll do a bit more homework before I do anything drastic!


Try the Morningstar Xray tool https://www.morningstar.co.uk/uk/portfo ... fxray.aspx
I think is the free version. I have found it handy for such things. I get it included with my AJ Bell account but if you try with that link I think you can create a portfolio and drill down to individual holdings and other useful insight.

Alaric
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Re: Tidying up my retirement portfolio...

#618045

Postby Alaric » September 30th, 2023, 6:30 pm

Amaryllis wrote: If I understand correctly, I can still make small additions (£2880 a year?) even though I'm retired.


Everyone can put in £2880 net per tax year, regardless of their lack of employment income. It just sits alongside all the other SIPP assets.

swill453
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Re: Tidying up my retirement portfolio...

#618046

Postby swill453 » September 30th, 2023, 6:38 pm

Alaric wrote:
Amaryllis wrote: If I understand correctly, I can still make small additions (£2880 a year?) even though I'm retired.

Everyone can put in £2880 net per tax year, regardless of their lack of employment income. It just sits alongside all the other SIPP assets.

Up to age 75, anyway.

In pure financial terms, if your pension is taxed at 20% then what you gain is the tax saved on the 25% tax-free element.

So £2880 net is grossed up to £3600. 25% of this is £900. The taxed saved is therefore £180.

Not a fortune, but take a few minutes admin per year.

Scott.

Charlottesquare
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Re: Tidying up my retirement portfolio...

#618634

Postby Charlottesquare » October 3rd, 2023, 4:50 pm

Amaryllis wrote:That sounds very sensible - thank you so much!

I clearly have a lot of homework to do…

One more question: would you suggest putting everything with AJ Bell, or should I spread it amongst two or three brokers?


If all sheltered from CGT multiple platforms are not usually an issue (SIPP & ISA), if potential for CGT if there are disposals, and platforms could overlap buying and selling the same instruments, I would tend to just use one.

IShouldCoco
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Re: Tidying up my retirement portfolio...

#619115

Postby IShouldCoco » October 5th, 2023, 8:16 pm

Amaryllis wrote:The objective: not doing something stupid with my assets, with a view of leaving as much as possible to my children.

!


You haven't made it clear whether you have a partner, but at some point somebody will have to take this over.

Having tried to sort out my father in laws estate, which was a mixture of savings accounts and bonds, with 8 different companies, I can assure you that it is not easy.

Even when you get probate, some still want other original documents and none of them were consistent. I had time to sort this, but your children may not have this luxury, be very upset at your death and have no understanding of the financial service industry.

In your shoes, I would massively consolidate into just a handful of accounts.

Put yourself in their shoes, many years down the line. They have to go through all your records to find what is current, contact all the companies and then jump through each different set of hurdles.

Wuffle
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Re: Tidying up my retirement portfolio...

#619313

Postby Wuffle » October 7th, 2023, 6:23 am

It is worth pointing out that being a control obsessed, super organiser won't help.
It just means that as the dementia sets in you will likely start going through your paperwork 'sorting it out' into an increasingly shambolic mess while withdrawing communication with interested parties who are trying to help because...must....retain....controlllllll.....

Ask me how I know.

W.

DrFfybes
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Re: Tidying up my retirement portfolio...

#619330

Postby DrFfybes » October 7th, 2023, 9:28 am

IShouldCoco wrote:
Amaryllis wrote:The objective: not doing something stupid with my assets, with a view of leaving as much as possible to my children.

!


You haven't made it clear whether you have a partner, but at some point somebody will have to take this over.

Having tried to sort out my father in laws estate, which was a mixture of savings accounts and bonds, with 8 different companies, I can assure you that it is not easy.


Definaitely straying OT here, but as you're tidying up then don't limit it to the assets you invest in. As said - narrow it down to one (or possibly 2) platforms. After that it doesn't really matter what you invest in apart from for your own sanity and clarity.

Make use of your tax breaks, if there is a Spouse/Civil Partner then do the same, you can inherit each other's ISA allowance. If you use the same platforms things are a lot easier to sort in terms of ID.

Re cash holdings - MrsF's parents never understood transferring Cash ISAs, had over 50 savings accounts with 17 providers when we got PoA, most paying 0.1% at a time the best were paying nearly 5%. In hindsight it might have been easier to leave the small ones until they died.

SIPPs - nominate the beneficiary in an Expression of Wish, currently sidesteps the IHT.

And lastly, keep it simple. Ure you can set up Trusts, but if you really want to make sure your children get your money, give it to them whilst you are alive and hope they stay married :)

Paul


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