https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sippsI'd like to start investing a small % of money each year. Have heard opening a SIPP and investing in global index trackers is a good idea.I have 2 concerns.1) If the majority of my income is solely classed as gambling winnings and as such not taxablehttps://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=557684631#557684631The clue is in the name geoff. YOU control a Self Invested Personal Pension.You don't control a company pension. So it depends on your outlook. I converted a defined benefits pension to a SIPP and I am very content that I have made the right choice lSat, 03 Aug 2019 11:08:53 -0500https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=557629321#557629321I'm not sure I quite understand why people even bother with SIPPs? Is it just because they get a 20% or 40% boost from their tax and means they are investing more?Does it not just make sense for me to invest in S&P 500, FTSE 100, Nikkei, DAX etc. onFri, 26 Jul 2019 03:04:29 -0500https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=557509281#557509281*fundsSat, 06 Jul 2019 03:49:01 -0500https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=557509279#557509279Put your £2880 pa into a SIPP holding a fund of funds like Vanguard LifeStyle, L & G Multi-Asset or HSBC Global Strategy. Will only cost you around 0.20% pa. Hold it with a low cost SIPP provider. Hargreaves Lansdown will charge 0.45% but there aSat, 06 Jul 2019 03:48:45 -0500https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=557337809#557337809If I were you I would be putting the max 20,000 a year into a share based ISA, you can withdraw anytime and all gains are tax free.Sun, 09 Jun 2019 15:15:22 -0500https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=555110969#555110969To answer the original poster's question, what is the alternative? You put your money in the hands of fund managers who invest in a broad (boring?) spread of shares and bonds according to their own rules and charge you fees that erode much of your gaThu, 26 Jul 2018 03:30:03 -0500https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=555110109#555110109Before you consider anything with a tax break, make sure you've already used up what's available.First there's your income allowance. Relevant for people with little or no income.Separate from this is your Capital Gains Tax allowance, which is worthWed, 25 Jul 2018 18:06:12 -0500https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=554301491#554301491You can have a SIPP AND select your and manage your own investments. For example Xafinity Simply SIPP. With average fortune you may build a substantial sum for later in life when you will benefit from tax-advantages under the aegis of a SIPP. For exaThu, 26 Apr 2018 06:55:35 -0500https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=554196251#554196251.Thu, 19 Apr 2018 17:15:27 -0500https://community.betfair.com/tradefair__financials/go/thread/view/94198/30914145/can-someone-help-me-understand-why-people-invest-in-sipps?post_id=552571783#552571783CheersSat, 12 Aug 2017 17:05:20 -0500