Our reader wants to help his children build up a pension pot but is taking a very high-risk strategy
Adrian Thomas started investing two years ago on behalf of his three children aged 11, 10 and eight. He started with an initial lump sum of £5,000 for each child’s portfolio invested in five high-yielding FTSE 350 shares from different industries. Each child’s portfolio is set up within a self-invested personal pension (Sipp), and they all have the same number of holdings.
If you are in your 50s and financially unprepared for retirement then the good news is you’re not alone. The bad news, however, is that you’re fast running out of time to avoid poverty in later life.
Most of us pay tax on everything from our income and company benefits to our weekly shopping and holidays. But, although our taxes are necessary to help fund schools, the NHS and the country’s infrastructure, no one wants to pay more than necessary.