Holly Mckay
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    • Home • Advice • Common questions

    Do I take lump sum of £32K or draw down £7k and take 1K/pa annuity?

    30 January 2023

    Question by rachael

    Do I take lump sum of £32K or draw down £7k and take 1K/pa annuity? If I take lump sum have to have financial advice how much should this cost?

    Answered by

    Hi Rachael

    I'm afraid it's impossible to be able to advise what's best without knowing your full circumstances. Please do drop me a personal message if you'd like to discuss this further.

    Regards
    Rachel

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    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.