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DIY investor: Cashing in on defined benefit

"The aspect of DIY investing that is most important to me becomes clear: the ability to choose which risks I take"

By Andy Davis   March 2017

The logic of being a DIY investor is clear: I want to make my own decisions, I have a reasonable sense of my own ability to tolerate risk and I always prefer to put money into investments I have thought through for myself, rather than pay someone else to do the thinking for me.

Well, almost always. Recently, I’ve seen a series of stories about people who have chosen to cash in final salary pensions that provide a guaranteed, inflation-linked income for the rest of their life (and often their spouse’s…

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