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[Romankhramov]

I have just turned 56 and I'm kicking myself for not starting to invest or plan sooner. Although I've built up a decent nest egg from my working years, my retirement savings are still lagging behind. Now, I'm playing catch-up and worrying about whether I'll have enough for a comfortable retirement.

[JamesMaddison-ef]

How can I make good profit as a beginner starting with $10, 000

[stephenparker]

Good information, probably better to have both. With a SIPP the government control when you retire, With an ISA you control when you retire

[JackRalph]

Have you ever tried wthdrawing from a sipp? It's a massive pain and isa's are simple. i've learnt this the easy way dealing with my mum's pension. thank god.

[rosso]

At 1:43 Just a note that you cannot put £5000 in a lifetime ISA… the limit is £4000. The additional 1000 government contribution doesn’t count towards the 20k annual limit so is irrelevant in the example.

Otherwise, loved the video Chris!

[Oldyellowbrick]

I pay into both but I’ve definitely been favouring the ISA even as a higher rate tax payer. The ISA is so simple to understand with no strings, where the SIPP is alot more complex. You get the relief for basic rate but then you have to do a self assessment tax return for the rest, which thankfully I already have to do but most people I know wouldn’t know where to start. THEN it’s the restriction of when you can take it and the tax on the way out. So many variables to account for. ISA is 20k allowance completely tax free on gains and you have complete freedom of when you access it.

[realist.network]

Being able to retire when I want is more important to me than having £100k more.

I don’t trust the government to let me have my SIPP before 65.

I’m currently maxing out an ISA every year (sadly only 2 years in a row so far) and putting £1, 200 a month in a pension. Maybe I should swap that round, but I’m worried I won’t be able to retire before 57 if I don’t invest more in an ISA, and I’m worried the government will put the private pension age up to 65 or 70. Essentially, I find the fact the government are allowed to control the pension age abhorrent—it just fills me with worry because we can’t trust them to care about soon-to-be-retirees.

[leenewell]

For parents who earn over £60k, worth mentioned that using SIPP can be much more beneficial as pension payments can reduce adjusted net income and allow parents to keep child benefit rather than lose it

[Simian_Raticus]

1:41 Good summary, but a minor correction: one can only put £4000 in a Lifetime ISA in a tax year and to the best of my knowledge the 25% top-up from the government doesn't count towards the £20k annual ISA limit.

[pba]

I might be very tired right now but I think the tax % figures at 4:12 are a bit misleading - at first glance I would think you mean that above £50270 you pay 20% and above £125140 you pay 40%, whereas actually you pay 20% between £12570-£50270 and 40% above £50270?

[najib]

The explanation is very convoluted. There are so many parameters to factor in like other incomes, state pension, political risks ( with pension rules).

[shashank.parashar]

10:57 That doesn't seem to be a big difference considering ISA doesn't lock up your investment for next 25-30 years. Maybe SIPP could be a compelling case when you take into account employer's contribution.

[DonaldMark-nese]

To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?

[oatzman]

This is the best video I have found explaining the differences between the two, thank you!

[davidwilliams]

If you work for a company that allows salary sacrifice then increasing your pension contribution to whatever you can afford means you are saving on tax anyway. Using Net salary to then open a SIPP and claim back the tax relief seems pointless, might as well do it all through the salary sacrifice am I missing something?

[davidrobinson]

My S&S ISA was something I built up in case I needed to bridge until I could access my personal pension. Not for a FIRE scenario, more like worst case scenario of losing my job and not getting another one for a while. As a soon-to-be 52-y-o, I'll need less reserve each year to bridge the gap to 55, should that latter scenario play out. I've just opened a SIPP on InvestEngine and my plan is to move funds from the S&S ISA into the same investments inside the SIPP over the next few years up to my annual limit. Almost immediate 25% gain from the uplift. When I go into the drawdown phase (hopefully around 60), even with paying the tax on the taxable portion, I'm looking at a minimum of 6.25% gain over holding the same funds in an ISA.

[dan-jhmz]

A flexible ISA you can take and add from in the same tax year is the Vanguard platform. That is why i kept my ISA and SIPP with them, when i was going to move to HL or A J Bell but they are not flexible ISAs.

[PonzooonTheGreat]

Sounds like the LISA should be maxed out before contributing to a SIPP if you're in the basic tax band. 25% boost on the way in like a SIPP, tax free on the way out like an ISA.

[pico]

Please make a video on how to/ what is the process to claim higher tax for SIPP through self assessment

[MirabelMawson]

I reached $90k today from renting and reselling modular homes from Proopsy. Thank you for all the knowledge and insights you've shared with me over the past few months. I began this journey in November 2024. Financial education is essential for over 70% of the population, as only a few are truly literate in this area.