Haydn's story
Haydn holds his pensions and investments all under one roof to make managing his money easier.
"Having pensions and investments in one place is like a dream. I only have to log in once. Both my husband and I have an HL ISA, and I also have an HL SIPP. When my father got to the stage where he couldn’t manage his own resources after my mother died, I was also able to manage his HL accounts on his behalf."
What has shaped your view on money?
"My mother grew up with a very frugal attitude that money was something that you treated with care. She tried to make sure that you didn’t waste it, and if you had some, you thought about how you would use it.
When I was 7, my parents set up a post office savings account. I would have a little list of what money I had been given for my birthdays, or as other gifts, and would decide how much would go into my savings account, or how much I was going to keep and what I was going to spend it on.
I never forget the excitement of buying my first bike, it was something my parents wouldn’t have been able to afford. The idea of drawing that money out and buying that bike after so many months was kind of like…ah this is what it’s all about! It’s about what happens at the end, after that money is built up, and that saving matters.
By the time I was 18, I was very aware that money wasn’t free. It didn’t just turn up if you were lucky. If you earned it, or if it was given to you, you have to actually manage it."
Planning for retirement
"What I was conscious of early on in my employment, was that a pension was not going to be enough.
I did the calculations and thought…I can’t live on what my pension is supposed to be by the time I retire, so how am I going to back it up? That became my first focus, being able to choose when I want to retire.
When I retired at 58, my father mocked me as he managed to retire at 55. But I decided to retire when I knew I could be comfortable, instead of having to watch every penny."
How would you describe Hargreaves Lansdown in one word?
"I would describe HL as friendly. This is because every interaction I have with HL, there's that sense that the effort I make to communicate with them is reciprocated, and it feels like you’re part of that group. I don’t think it would have been as easy with any other provider."
What are your top tips?
"1. Start investing as soon as you can and for the longer term.
2. Make sure you pay off any major debts first.
3. Diversify. Don’t put all your apples in one barrel because if one goes bad, they all go bad."
CLIENT STORIES
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Khalid recently invested in the HL Ready-Made Pension Plan. A simple low-cost investment solution managed by HL experts.
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Holli, age 33, is self-employed and recently opened an HL Self-Invested Personal Pension (SIPP) to help her save for retirement.
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Lynne uses HL insights to help her manage her pension. She’s able to keep on top of her HL Self-Invested Personal Pension (SIPP) with ease and likes the wide range of investment options.
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Philip is now enjoying an early retirement thanks to increasing his pension contributions early on.
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Andrew invests monthly to benefit from compound growth. This strategy could turn a small savings pot into a significant amount when left untouched.
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Christopher used the HL website to help him retire early. With HL he’s able to manage all his wealth under one roof, and uses the linked account service to manage his family’s money too.
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Joanna is a sole trader who recently opened an HL Lifetime ISA (LISA) to help her save for retirement.
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Peter uses the HL Self-Invested Personal Pension (SIPP) to help him reduce his tax bill and to save on inheritance tax.