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Image source: Getty Images<\/p>\n
With the current State Pension paying \u00a312,548 a year, more people are using a Self-Invested Personal Pension (SIPP) to try and provide a better standard of living in retirement.<\/p>\n
Offering attractive tax relief and flexibility in the types of investments that can be held \u2013 including gold bullion and commercial property, as well as stocks and shares \u2014 a SIPP could be a great way to target the level of income that industry experts reckon is needed to have a comfortable retirement.<\/p>\n
Should you buy Standard Life shares today?\t<\/p>\n
Before you decide, please take a moment to review this report first. Despite ongoing uncertainties from US tariffs to global conflicts, Mark Rogers and his team believe many UK shares still trade at substantial discounts, offering savvy investors plenty of potential opportunities to learn about.<\/p>\n
That\u2019s why this could be an ideal time to secure this valuable research \u2013 Mark\u2019s analysts have scoured the markets to reveal 5 of his favourite long-term \u2018Buys\u2019. Please, don\u2019t make any big decisions before seeing them.<\/p>\n
Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.<\/p>\n
According to Pensions UK, a single person requires \u00a345,400 a year in retirement to have a comfortable lifestyle. Let\u2019s assume that someone wants to give up work early \u2014 before they are entitled to receive the State Pension \u2013 and wants to target this level of income. How much would be needed in a SIPP?<\/p>\n
Well, it depends.<\/p>\n
A bit of number-crunching<\/p>\n
Assuming our retiree owns a portfolio of dividend shares paying 5% a year<\/a>, they would need a SIPP worth \u00a3908,000. At 6%, the figure drops to \u00a3756,667. If 7% could be achieved, the requirement is \u00a3648,571. All are chunky numbers but I think it\u2019s amazing what a difference a one percentage point variation in the annual return can make.<\/p>\n One company that provides SIPPs and, by a happy coincidence, is one of the highest-yielding FTSE 100 stocks at the moment (12 July) is Standard Life (LSE:SDLF<\/a>), formerly known as Phoenix Group. Currently, it\u2019s returning 6.4%.<\/p>\n If this could be maintained, a \u00a3709,375 SIPP would be needed to produce our \u00a345,400 income target.<\/p>\n Do you know the only thing that gives me pleasure? It\u2019s to see my dividends coming in.<\/p>\n John D Rockefeller<\/p>\n My view<\/p>\n And in my opinion, there are a number of reasons why Standard Life could be considered by income investors.<\/p>\n By 2034, the UK retirement and savings income market is expected to grow by \u00a32.5trn. Most business owners will argue that it\u2019s easier to sell more to existing customers than to find new ones. Standard Life claims to have 20% of UK adults on its books so, it seems highly likely to me, that it will grow in line with the wider market.<\/p>\n When its \u00a32bn deal to acquire the UK customers of Aegon completes, it will have an even bigger client base.<\/p>\n More specifically, higher interest rates are creating renewed interest in annuities. Changes to inheritance tax rules have led to a doubling of the number of people looking for \u00a31m+ annuities.<\/p>\n However, as they\u2019re a distribution of profit, dividends can fluctuate in line with earnings. Standard Life\u2019s financial performance could be impacted by rivals taking market share. It might also be threatened by global market instability. That\u2019s because it has \u00a3309bn of financial securities on its balance sheet<\/a> to help it meet its obligations.<\/p>\n But with a Solvency II ratio of 176% (at 31 December 2025), it has plenty of headroom for the time being at least.<\/p>\n A final thought<\/p>\n Of course, it\u2019s never a good idea to own just one share. However, the example of Standard Life shows how a portfolio of high-yielding income stocks can help someone target a more comfortable retirement. Personally, I think it\u2019s one to consider.<\/p>\n What income stock do we like better than Standard Life right now?<\/p>\n One of our Share Advisor analysts has just released a brand new stock report that we think is a must-read for any investor looking to try and generate potential income.<\/p>\n And the best bit is that you can see if for yourself, right now, absolutely free of charge!<\/p>\n No jargon. No hard sell. Just a clear look at an income share we think is worth your time.<\/p>\n James Beard owns shares in Standard Life plc.<\/p>\n","protected":false},"excerpt":{"rendered":"Image source: Getty Images With the current State Pension paying \u00a312,548 a year, more people are using a…\n","protected":false},"author":2,"featured_media":506317,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,266,267],"class_list":["post-538371","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-il","tag-israel","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/538371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=538371"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/538371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/506317"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=538371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=538371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=538371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}