Member Info for NettlesTheCat

😂 at Captain Svend.

You the man (Captain!). 👍

Thanks Cev 👍

Eh, you were lucky to have a room! We used to have to live in the corridor!

Aimgainer, I agree sir. That will do me!

CEV, thank you sir, you've very much answered my main question I had and I feel more confident to pursue that goal for the next 7 years. And yes, I will email you to keep you posted buddy - please do the same.

Good man 👍

So, massive apologies for exposing your assets here CEV, you are saying to take a 4% of £684k (£27k) annually, so pay tax income tax on £14.5k per year (not acknowledging any other income you have) and know the capital 'at least' remains the same.

That sounds like a perfect spot to me.

I fully agree with you on the desire to have an almost guaranteed income opposed to investing at the levels I do (massive high risk).

If I get to £700k, that would be a perfect scenario for me.

But, you know a but was coming, what do I do with my fun time in investing? 😂. Cars and women bore me! 😂

Apologies for hijacking a thread I'm not even involved in, I hope you don't mind me asking this question.

Thank you CEV, and awesome to speak to you to.

Can I just clarify that you haven't 'drawndown' the 62k RR but have sold within SIPP and transferred over to ETF's? So you aren't liable for income tax on a 'drawdown'?

And yes, you were 100% correct on EEE. I was fool not to acknowledge your message to me all those months ago. So well done sir, awesome it's working for you. 👍

Great points NonPartisan, and yes, a one off conversion at the point of drawdown with a financial advisor is certainly a decent shout.

Just wondering if anyone here has already done it, or is about to do it, and has that information.

My retirement involves a narrow boat and beer. Not sure my local takes guitars or artwork as common currency 😂

"I think I'll one my joy in investing if I did an annuity."

should read:

"I think I'll lose my joy in investing if I did an annuity".

If I can add my two pennies Aimgamer from what I currently know, I think the 25% tax free is a given whether it's a draw down or annuity thereafter? Do we agree on that? (obviously depends on the sum we are talking about).

But I have listed these points in terms of positives and negatives for a simple draw down or annuity thereafter:

ANNUITY:

• Gauranteed income for life of the annuity (of the person drawing it! 😂).

• Annuity 'could' cease at time of death

• 4-6% per annum is possible

DRAWDOWN:

• Shares of portfolio continue to be invested - so depending on your recent raise per annum, it could be greater than 4-6%

• Upon death at any point, full funds left are transferred to spouse/relative (they do not cease like an annuity)

• Allowance of 10k per year to increase fund value remains

It's a difficult one, but I'm currently on the side of a 25% drawdown (tax free) followed by a continued drawdown as and when I need it.

I'm only asking now as I have 7 years to get to my milestone (which I won't state).

I think I'll one my joy in investing if I did an annuity.

I thought we only had 44k tonnes of Spod ready to ship? How have we got to 125k tonnes in a week?

Please correct me if I'm very wrong on this.

"Andy, ever thought of investing rather than speculating?"

Speculation isn't a bad thing Cev. It's treated me very well since my conversion from SJP to SIPP in the last few weeks (99.9% up).

Dipping toes is a very good idea.

Aimgainer I'm unfortunately not part of EEE (although I should have been with the likes of CEV, Dusty and Svend telling me it was good move).

I do follow it though just incase I can get it at a point my gut is happy with.

I'm more intrigued with your thoughts of cashing your SIPP in. Do you mean will report to 25% take and then draw down, or do you feel you will take an annuity to guarantee income? I'm 50 so will have to wait till 57 to get the 25% and I'm thinking draw down will be better for me - but I'm asking to get views from others.

Very interested in your thoughts.

"2p, or not 2p, that is the question." 😂

Love posts like that. 👍

We know this is all down to assay results so let's see when the come through. The fact they are active with drill hole two suggests they want to keep the momentum going and they think the assay of that will show even better.

"I live in 3 bed semi in Surrey"

House! You're lucky to live in a house! We live in one room, all twenty-six of us, no furniture, half the floor is missing, and we all huddled together in one corner for fear of falling!

"you on X? just trying to think of a way to get in touch with you directly if possible? Without sharing personal info on here."

You can get me if you look for "Nettles" and "Investments" - I'll look out for your email. 👍

Just out of interest, did you look at KDNC.L Tiger? I mentioned it to you yesterday.

... logging onto IMM at 8am every morning before doing anything else? (7am for any sign of RNS) 😂

This is simply the most amazing ride I've ever witnessed - to go from my purchase at 1.69 to 15.15 in a matter of weeks is becoming life changing for me.

I hope you all feel the same!

May it continue.

Quady, thank you sir of your time to post that.

What an absolute abhorrent forum, possibly the worse I have seen on my time at LSE.

I'll leave them to it. Some people are beyond reach.

Good luck all.