February 26, 20206 yr 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.
February 26, 20206 yr 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
February 27, 20206 yr Pension fund taking a bit of a battering at the moment. Fingers crossed for a bounce back once this virus is under control.
February 27, 20206 yr 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
February 27, 20206 yr 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
February 27, 20206 yr 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........
February 27, 20206 yr 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
February 27, 20206 yr 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.
March 19, 20206 yr 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.
March 19, 20206 yr 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
March 19, 20206 yr 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
March 19, 20206 yr 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, 20206 yr by Mounts Kipper
March 19, 20206 yr 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
March 19, 20206 yr 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.
March 19, 20206 yr 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
March 20, 20206 yr 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
March 20, 20206 yr 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 !
March 20, 20206 yr 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..."
March 20, 20206 yr 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
March 20, 20206 yr 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, 20206 yr by masi 51
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