6 Vital Questions You Should Ask About Any SIPP Or SSAS Investment BEFORE You Part With Your Money
Which SIPP Or SSAS Investment: 6 Vital Questions
Question 1: Does This Particular Investment Fit With My General Strategy?
Question 2: Do You Understand Your Potential Investment Thoroughly, Or Are You Willing To Learn?
Question 3: How Much Of Your Time Does This Investment Require?
Question 4: Do Your SIPP Investments Benefit Your Non-Pension Income Or Taxes?
Question 5: Do You Have A Due Diligence Plan?
Question 6: Do I Need Advisors For Any Portion Of This Investment?
As you can see, each of my six major questions has sub-questions and can lead to a lot more questions.
My lawyer has told me that I should say 17 times that this does not constitute advice, in no way is this any recommendation to buy or sell anything, and under no theory of law do I imply or accept any responsibility, obligation or liability for any losses (or gains) for anything you may do after having read this article.
I suppose that is fitting. After all, if you are self-investing, you are responsible for all the decisions. No one else but you gets the profit and takes the loss. It is a dangerous world, but an exciting one.
About Dr Matt Modisett
With more than 25 years’ experience, Dr Matt Modisett PhD FIA ASA MMA has spent his career in investments and insurance. He's worked in the USA, Japan, The Netherlands, Spain, Belgium, Hungary, Australia, and the UK. He was formerly a Chief Investment Officer for an insurer, Asset-Liability Manager for three insurers, and has consulted for many years, all for top tier institutions. He has served as Professor of Actuarial Science and also as Professor of Finance.
He holds a PhD in Mathematics, is a Fellow of both the UK Institute and Faculty of Actuaries and the Hungarian Society of Actuaries, and is also an Associate of the USA Society of Actuaries. He has numerous publications to his credit.
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AJ Bell Is Often The Best Value SIPP For Stockmarket Assets
Over time, charges can wipe out a huge part of your fund. We like AJ Bell because there are no set-up costs. If you hold passive funds, which is our preference, or shares, investment trusts, EFTs, gilts or bonds, you pay one small fixed fee no matter how large your fund. And when you come to draw your benefits either as occasional drawdown or UFPLS payments, there's a small charge for the whole year no matter how many times you access your money (many SIPP and SSAS providers charge more than this for each payment). However, you should always compare charges in detail, because AJ Bell could be more expensive than other providers, depending on the type of stockmarket assets you hold.
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As SIPPclub neither advises on, nor arranges, nor recommends specific investments or strategies, we're unable to say whether a SIPP or SSAS or any investment within it is right for you. Ultimately, it’s your money and your decision, and you should only proceed once you're satisfied you've undertaken sufficient due diligence. If you need advice, you should speak to your trusted adviser, or you could find a local adviser from Unbiased.co.uk. Alternatively, we'd be pleased to introduce to a suitably qualified independent financial adviser.
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