Site Supporter Tonge moor green jacket Posted February 26, 2020 Site Supporter Share Posted February 26, 2020 12 hours ago, masi 51 said: Used two financial advisors during my life, The first told me to get a endowment for my house.The second told me not to transfer a pension. Both rank bad advice. Just go off your gut feeling it has worked since. At one time endowments were regarded as the obvious way to go. I too got a bit stung, as a good while after taking one out, they started to go tits up. Don't blame the ifa though; he gave the best advice at the time, and couldn't have foreseen what was to come. A later ifa however, effectively stole money from me, together with his own business partner. An absolute cunt of a man. Quote Link to comment Share on other sites More sharing options...
Site Supporter victor meldrew Posted February 26, 2020 Site Supporter Share Posted February 26, 2020 On 25/02/2020 at 10:11, Biggish Dave said: I'll almost guarantee it. The wife and myself both have reasonable pensions - or at least should have by the time we come to retire but we do throw quite a lot of money at it. There's hardly any of our friends got savings to speak of, let alone pensions and most are now in their mid 40's. People are going to be working much later than they would like I believe. It's a ticking time bomb don't worry about him, it's the people with money the council will be after Quote Link to comment Share on other sites More sharing options...
Mounts Kipper Posted February 27, 2020 Share Posted February 27, 2020 Pension fund taking a bit of a battering at the moment. Fingers crossed for a bounce back once this virus is under control. Quote Link to comment Share on other sites More sharing options...
Guest Posted February 27, 2020 Share Posted February 27, 2020 24 minutes ago, Mounts Kipper said: Pension fund taking a bit of a battering at the moment. Fingers crossed for a bounce back once this virus is under control. Big bollocks time Quote Link to comment Share on other sites More sharing options...
1969 Posted February 27, 2020 Share Posted February 27, 2020 28 minutes ago, Mounts Kipper said: Pension fund taking a bit of a battering at the moment. Fingers crossed for a bounce back once this virus is under control. Yep mines already dropped 4 grand Quote Link to comment Share on other sites More sharing options...
Sweep Posted February 27, 2020 Share Posted February 27, 2020 So, I've now gone into this salary sacrifice thing, and looking at my wage slip this month, it looks like a no brainer, so I may sacrifice a few more quid moving forward................I'm assuming that I now have to contact the tax office and let them them know what I'm doing, as I currently claim back quite a bit on personal pension relief, which I'm guessing I'm no longer entitled to........ Quote Link to comment Share on other sites More sharing options...
Guest Posted February 27, 2020 Share Posted February 27, 2020 10 minutes ago, Sweep said: So, I've now gone into this salary sacrifice thing, and looking at my wage slip this month, it looks like a no brainer, so I may sacrifice a few more quid moving forward................I'm assuming that I now have to contact the tax office and let them them know what I'm doing, as I currently claim back quite a bit on personal pension relief, which I'm guessing I'm no longer entitled to........ If you do a tax return then I expect that you’ll not need to Quote Link to comment Share on other sites More sharing options...
masi 51 Posted February 27, 2020 Share Posted February 27, 2020 On 26/02/2020 at 11:00, boltondiver said: Just dumped any of my cautious funds into the market Brave thing to do, but if your change of funds dont kick in until after three working days you may have missed the worse. Quote Link to comment Share on other sites More sharing options...
Tel Posted March 19, 2020 Share Posted March 19, 2020 On 27 February 2020 at 09:37, Mounts Kipper said: Pension fund taking a bit of a battering at the moment. Fingers crossed for a bounce back once this virus is under control. How's it doing now mate 😡😡 mine went down £2k 2 weeks ago but now it's down £18k😪😪 not sure what to do ride the storm or get out. Quote Link to comment Share on other sites More sharing options...
Site Supporter victor meldrew Posted March 19, 2020 Site Supporter Share Posted March 19, 2020 3 minutes ago, Tel said: How's it doing now mate 😡😡 mine went down £2k 2 weeks ago but now it's down £18k😪😪 not sure what to do ride the storm or get out. if you get out now you've lost that money. don't know how old you are but you just have to wait for it to comeback Quote Link to comment Share on other sites More sharing options...
jeep Posted March 19, 2020 Share Posted March 19, 2020 You've only lost the money if you cash out now. Quote Link to comment Share on other sites More sharing options...
Moderators Casino Posted March 19, 2020 Moderators Share Posted March 19, 2020 2 minutes ago, victor meldrew said: if you get out now you've lost that money. don't know how old you are but you just have to wait for it to comeback Hes old Quote Link to comment Share on other sites More sharing options...
Tel Posted March 19, 2020 Share Posted March 19, 2020 1 minute ago, Casino said: Hes old 😡 not that old 😂 Quote Link to comment Share on other sites More sharing options...
Mounts Kipper Posted March 19, 2020 Share Posted March 19, 2020 (edited) 23 minutes ago, Tel said: How's it doing now mate 😡😡 mine went down £2k 2 weeks ago but now it's down £18k😪😪 not sure what to do ride the storm or get out. How do pal, you’ve got to ride the storm. I’ve a small pension down 25% I dare not looking at the larger pension. Edited March 19, 2020 by Mounts Kipper Quote Link to comment Share on other sites More sharing options...
Guest Posted March 19, 2020 Share Posted March 19, 2020 24 minutes ago, Tel said: How's it doing now mate 😡😡 mine went down £2k 2 weeks ago but now it's down £18k😪😪 not sure what to do ride the storm or get out. Depends on your financial resilience Quote Link to comment Share on other sites More sharing options...
radcliffe white Posted March 19, 2020 Share Posted March 19, 2020 Martin Lewis on now says hold out Quote Link to comment Share on other sites More sharing options...
Ani Posted March 19, 2020 Share Posted March 19, 2020 I am scared to look at mine. Quote Link to comment Share on other sites More sharing options...
Mounts Kipper Posted March 19, 2020 Share Posted March 19, 2020 Just now, Ani said: I am scared to look at mine. Same. Quote Link to comment Share on other sites More sharing options...
Site Supporter Winchester White Posted March 19, 2020 Site Supporter Share Posted March 19, 2020 I never have, never will. I know balls all about pensions just that I have been paying in small amounts since I started work. My current one is 2% me 8% work of my salary, no idea if this is enough or not. Still, it's about as much as I can afford anyway. Quote Link to comment Share on other sites More sharing options...
birch-chorley Posted March 19, 2020 Share Posted March 19, 2020 Mines down, but then again I’m young enough to ride it out Every month I’m buying cheaper That’s the advice I was given and I believe in it Thanks BD Quote Link to comment Share on other sites More sharing options...
Site Supporter Biggish Dave Posted March 20, 2020 Site Supporter Share Posted March 20, 2020 I’m still putting my usual monthly chunks in and bought a chunk when Ftse was sinking below 7k. Ive no intention of retiring in the next 10/12 years anyway so should ride this out too Quote Link to comment Share on other sites More sharing options...
masi 51 Posted March 20, 2020 Share Posted March 20, 2020 On 27/01/2020 at 12:04, masi 51 said: Pensions dont have to be a minefield 1 Most of them you can now access online and change your funds as most are linked to the fts 100 they could get one hell of a hit this coming month or so. I am by no means a expert on pensions but my advice would be to move all now to low risk funds and sit tight until at least Easter Pity no one listened ! Quote Link to comment Share on other sites More sharing options...
Site Supporter MickyD Posted March 20, 2020 Site Supporter Share Posted March 20, 2020 Everybody may have listened but not everybody may be able to swap and change pension pots from one area to another. I've never really had much dealings with my pension, I just paid at source each month. I was never in a position to advise the keeper of pensions that, "A guy on Wanderersways has told me to shift my whole pot from X to Y in order to make the most of a dip in economy. Oh, by the way, he did start the advice with, "I'm no expert on pensions, but..." Quote Link to comment Share on other sites More sharing options...
Escobarp Posted March 20, 2020 Share Posted March 20, 2020 As has been pointed out it’s only a loss if you crystallize it. coming on here saying “I told you so” really doesn’t help folk who are stressed to the max so please save it eh Quote Link to comment Share on other sites More sharing options...
masi 51 Posted March 20, 2020 Share Posted March 20, 2020 (edited) Yes looking at it that way I can certainly see how it comes across...I was really just saying anyone at any time can access there pots and change investments. 90% of people unfortunatly do not know this. And for what it is worth I wish I was wrong Edited March 20, 2020 by masi 51 Quote Link to comment Share on other sites More sharing options...
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