Investment bonds advice please

[financiallyiliterate]

Hi

I ve just seen an IFA, i ve 200k in mixed funds, which have done well, following losses after Liz Truss and Ukraine, a final salary pension, worth a few '000 pa and 120k in 4 x DC pensions, a BTL, plus about 50k in savings... i don't work now.

He said take DB pension plus lump sum.., leave savings as they are, combine DC pensions and invest in more risk as he doubts i'd ever take them and they'd be, currently, outside of IHT... all fine so far...

But then he said move the 200k into a Investment bond and take less than 5% p.a and i don't pay any tax... this seems a bit odd, why should they be?

My attitude is if its too good to be true, it normally is, whats the catch? he said returns are still very good....

Any advice pls ?

Investment Bonds explained:

They are an insurance product as I understand them (and my understanding of them is very limited). Therefore they have special rules. Watch the video and Pete from Meaningful Money will explain it far better than I could.

Blimey! they are complicated!! i think i will avoid.

It's what you pay your adviser to do. They would be doing it all for you.
Talk to them about it, learn more, ask them why they feel it would be beneficial in your particular situation.

You have a lot of money and should take basic advice from a financial advisor! It will be money well spent