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Thread: CETV of £1.3m

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  1. #1
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    CETV of £1.3m

    What would you do?

  2. #2
    Master -Ally-'s Avatar
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    Shout about it online, obvs.


  3. #3
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    Quote Originally Posted by -Ally- View Post
    Shout about it online, obvs.

    No, that was the third thing on my list. Keep up.

  4. #4
    Master MFB Scotland's Avatar
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    Quote Originally Posted by -Ally- View Post
    Shout about it online, obvs.

    haha

  5. #5
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    How close to retirement are you ?

    Sent from my ONEPLUS 5

  6. #6
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    Not working now, at 54.

  7. #7
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    Quote Originally Posted by Skyman View Post
    What would you do?
    Start another willy waving thread.

  8. #8
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    Quote Originally Posted by CaptainSlow View Post
    Start another willy waving thread.
    Nah, this one will do.🌹

  9. #9
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    Quote Originally Posted by Skyman View Post
    What would you do?
    Hookers and cocaine probably.

  10. #10
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    Quote Originally Posted by anz3001 View Post
    Hookers and cocaine probably.
    Yeah and waste the rest

  11. #11
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    Quote Originally Posted by anz3001 View Post
    Hookers and cocaine probably.
    Ahead of you.😜

  12. #12
    What does CETV mean?

  13. #13
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    Quote Originally Posted by eagletower View Post
    What does CETV mean?
    Cash transfer value of your pension.

  14. #14
    Quote Originally Posted by Zolawinston View Post
    Cash transfer value of your pension.
    Thanks! Had no idea!

  15. #15
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    It's a tough choice. Some of the benefits of "taking" the cash already mentioned.

    Ultimately it's a question of your attitude to risk and your other resources/income streams.

    Have you done the getting financial advice bit? How long is your quote valid for?

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    Quote Originally Posted by David_D View Post
    It's a tough choice. Some of the benefits of "taking" the cash already mentioned.

    Ultimately it's a question of your attitude to risk and your other resources/income streams.

    Have you done the getting financial advice bit? How long is your quote valid for?
    I have an IFA, whom I have known for a good while, on the case. To add to the mix, my wife has a similar pension entitlement at c. £600k in CETV terms. Ultimate goal is to have both children in their own wholly-owned properties at year end. Then, job done.
    We have quotes open for three months.

  17. #17
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    Quote Originally Posted by Skyman View Post
    I have an IFA, whom I have known for a good while, on the case. To add to the mix, my wife has a similar pension entitlement at c. £600k in CETV terms.
    Good stuff - it's just you have to get the advice before you press the button and it can take time if you are going from a standing start.

    So is the plan to take the tax-free cash to fund the houses?

  18. #18
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    Hire some bodyguards - we know where you live and how much you have...

    I thought CETV was a TV station - like a premiership one - started thinking Chelsea TV, then Charlton...

  19. #19
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    Quote Originally Posted by Skyman View Post
    What would you do?
    Would need more information before any hope of a serious reply (assuming you were after one).

    How much pension would you be giving up in your DB scheme? What other assets (including other pensions) do you have? What other sources of income do you have (are you still working or retired)? And so on.

    I know you say that your DB pension dies with you (and your wife) but is that a phrase you want to be reflecting on with regret when you're dancing the funky chicken on your 75th wedding anniversary?

  20. #20
    Master tiny73's Avatar
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    Quote Originally Posted by Skyman View Post
    What would you do?
    I suppose I’d fire most of the staff, pare my outgoings down to the bare minimum and live as frugal an existence as is possible with so little. YMMV.

  21. #21
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    Can you please adopt me...

  22. #22
    Another reason to take the Tax free part now is to reduce you're tax liability on LTA. Although you would then pay tax on what you earned if its invested
    outside you're pension pot depending on how you do it.

    Been going through this for last few months and been presented with about 15 different scenarios each time about 15 pages long, started to get number blindness.

  23. #23
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    Quote Originally Posted by TBKBABAB View Post
    Another reason to take the Tax free part now is to reduce you're tax liability on LTA.
    How? Your tax liability is on everything over £1m, the max tax free cash you can take is £250000 so in the OP’s case there is a potential tax liability on £300000 when it is crystallised.

    My intention is to take the tax free cash on a monthly basis over a number of years.

  24. #24
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    Quote Originally Posted by craig1912 View Post
    How? Your tax liability is on everything over £1m, the max tax free cash you can take is £250000 so in the OP’s case there is a potential tax liability on £300000 when it is crystallised.

    My intention is to take the tax free cash on a monthly basis over a number of years.
    If it continues to grow and is then crystallised.

  25. #25
    Quote Originally Posted by Devonian View Post
    If it continues to grow and is then crystallised.
    Exactly

  26. #26
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    Quote Originally Posted by Devonian View Post
    If it continues to grow and is then crystallised.
    Not sure I understand- to take £250k in tax free cash it comes out of the LTA so the OP then still has a potential liability on the £300k

  27. #27
    Quote Originally Posted by craig1912 View Post
    Not sure I understand- to take £250k in tax free cash it comes out of the LTA so the OP then still has a potential liability on the £300k
    But if the £250k is left in the Pot for 10 years it would increase to say £350k increasing tax Liability by £100k

  28. #28
    Quote Originally Posted by Skyman View Post
    What would you do?
    I'd ask someone who knows what they're talking about and refrain from asking people who don't, just to draw attention to how well off I am. That's what I did anyway.

  29. #29
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    Is your penis really so tiny that you need to big yourself up to strangers on an internet forum about how rich you are. What a sad git.

  30. #30
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    Quote Originally Posted by Cynar View Post
    Is your penis really so tiny that you need to big yourself up to strangers on an internet forum about how rich you are. What a sad git.
    ouch!!!!!! That's gotta sting

  31. #31
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    Quote Originally Posted by Jdh1 View Post
    I'd ask someone who knows what they're talking about and refrain from asking people who don't, just to draw attention to how well off I am. That's what I did anyway.
    Well done. But, we all have to start somewhere. I am glad you are well off.

    - - - Updated - - -

    Quote Originally Posted by seadog1408 View Post
    ouch!!!!!! That's gotta sting
    Not at all diver boy.

  32. #32
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    Quote Originally Posted by Skyman View Post
    - - - Updated - - -


    Not at all diver boy.
    Defo a nerve touched

  33. #33
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    Quote Originally Posted by Cynar View Post
    Is your penis really so tiny that you need to big yourself up to strangers on an internet forum about how rich you are. What a sad git.
    Are you really that insecure? A serious question prompts such a response.

  34. #34
    Quote Originally Posted by Jdh1 View Post
    I'd ask someone who knows what they're talking about and refrain from asking people who don't, just to draw attention to how well off I am. That's what I did anyway.
    How do you know people replying don’t know what they are talking about?

    I wouldn’t suggest taking anyones replies here as gospel on something like this but think
    its interesting to see other people’s experiences and opinions in addition to professional
    advice.

  35. #35
    Quote Originally Posted by TBKBABAB View Post
    How do you know people replying don’t know what they are talking about?

    I wouldn’t suggest taking anyones replies here as gospel on something like this but think
    its interesting to see other people’s experiences and opinions in addition to professional
    advice.
    What I meant is, were I genuinely looking for advice on say, pensions or high end cars, this wouldn't be an obvious port of call. However, if I was intent on drawing attention to what I could afford, it might make more sense.

  36. #36
    Oh I get it now! It's a wind-up, right!?

    I actually thought for a moment some monumental wazzock had actually posted "Hey Look at ME" or even genuinely asked a load of people on an internet forum what to do with £1.3m!!!!!! Ha Ha, very good, very strong. You reeled a few people in!

  37. #37
    Quote Originally Posted by catch21 View Post
    Oh I get it now! It's a wind-up, right!?

    I actually thought for a moment some monumental wazzock had actually posted "Hey Look at ME" or even genuinely asked a load of people on an internet forum what to do with £1.3m!!!!!! Ha Ha, very good, very strong. You reeled a few people in!

    My my thoughts exactly. No one would be that crass.

  38. #38
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    Move to a country where they don’t tax foreign pensions income....

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