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serious pension advice
serious pension advice
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I've done individual shares and had hits and misses. I think best stuff I've done is researching and getting the right funds. With the internet, as ever, it's so much easier to research, 30 years ago .. all you'd have had is some columns and opinions in the FT and a book on the general idea?
Isn't the internet great. Last night falling asleep I thought of two things I wanted to look up today. (Amazingly I rmeembered them both!). Pre internet you'd have little chance. Maybe if you're lucky a mate might know or a library book if you spent 3 hours looking might have it. Internet = get answers in 2 minutes. |
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just a thought from a simple bloke but I noticed might be wrong but theres 81 million in that standard life fund and the lady running it only took over in 2017,surely their must be far bigger investors than me none to happy with its performance
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Strange really though; when I worked for the Pru (85-2000) Standard Life were up there with the best pension performers
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I made a decent £ on the palace game but I should have been a lot more up, I was sure it was going to end 0-0 and didn't green up more and got greedy, kicking myself :(
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Don't kick yourself too hard 1tp... most funds have dipped of late, you are far from alone
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Brexit is not helping one bit!
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Actually Brexit helped boost the FTSE if you had that as when the pound dropped it was one factor in its growth as many trade in dollars. But the fall offs have been global since then, the classic sell offs round the globe feeding back on each other. Just look at the 6 month nasdaq and S&P, they mirror the ftse.
I'd imagine his fund above has many foreign stocks, nowhere has done well. I think the Far East is also tanking a bit. |
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To be honest JC I am a little worried myself. It has been quoted that funds, property etc could fall as much as 30% on a no-deal Brexit
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Yea that sounds like bollocks to me. Not sure why huge corporations trading in dollars with most of their business abroad will crash on that.
Property might a bit but it's overpriced anyway. We were told pre referendum there would be an immediate crash and "emergency budget" and nothing bad happened, in fact as I say the ftse went up and we've record unemployment and still have growth.. |
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Ok the pound dropped but not outwith levels it hadn't been in the last years anyway and arguably it's helped overseas trade be more competitive.
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It's a lottery mate but there is definite uncertainty surrounding it all but I do agree, the hot air does evaporate quickly
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all those people[ lemmings] new to the investing game following government advice starting stake holder pensions thinking their building a pot up when any started in the last 12 months will be losing money and because of the small amounts been saved will have nothing in the pot to take advantage of any tick up
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Not necessarily 1tp. Pound cost averaging usually helps with regular payments. If funds drops purchasing power is stronger. Lumps sums are more volatile in the current market
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anyway we,ve done well to have a civil thread,good chat without been invaded by know it all john paul getty types making 1000,s.
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indeed
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Well stocks always go down as well as up that's why you play the long game and ideally invest either drip drip all the time or when it looks like the market is down and due a rebound. Worst thing you can do imho is start putting large amounts in when the markets have been on the up for a long time and a fall is likely.
As I say I don't think my pension has been badly hammered that much, I was looking maybe a month ago and I'm still well up on a few years ago. |
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Worst thing you can do imho is start putting large amounts in when the markets have been on the up for a long time
Sound advice |
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I did just put some in a few months ago but I was careful, hopefully safe funds with "conservative" fund managers that move a lot into bonds etc if they get nervous (which many are) ;)
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I will admit the £6k hit I took last month made me readjust my long-term drawdown plans; not by much but lost a few years at the end
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to be honest my 2 peaks over the last 6 months probably coincided with highs and lows of the fund, I,m not a greedy person and only want enough once I access it to get me to my state pension at 66 anything left after that is a bonus, me and the wife have budgeted and should manage to always have 2 grand a month between us,mortgage paid off no credit card debt etc
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All I'm really hoping for is say 5-6% average a year. It's amazing to think years ago you could easily get that putting it in a bog standard bank!
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Ironically, when the Pru's 'With-Profit fund was performing in double-figures everyone was making fortunes but todays rates, allowing for inflation, are actually better! Go figure!
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It was a b1tch trying to explain that to clients when their 10 year endowments were coming out at £5k and then dropped to about £3.6k. How can you convince them they're better off?
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£20 per month that was
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Could be worse of course, the Euro's interest rate is AFAIK NEGATIVE and has been for a while? You put money in a bank and they TAKE from it!
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That's a tough ask, not impossible but not easy either
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all my own figures are based on 4%... if I can maintain that then I'm good right up to my late 80's. If I was to live longer then I'd sell up and by a tent
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part of my 2 grand a month income target is currently made up of roughly 5 grand a year dividends of out BT shares ,supposed to safe if no increase for next 2 years but with our luck you no that divi is next to go
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£2k with no mortgage or debt is a nice income 1tp
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yep most of the time be living on a lot less a month [12 to 1500 ] but nice to no it,ll be there,
it,ll be deffo be there in 9 years anyway the wifes index linked pension and mine and her,s state pensions,any share dividends and anything left in my pot will be just a bonus,with me getting my state pension in 6 years its nicely staggered with hers following |
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Sweet!
I've based my own drawdown on a reduction when I move (no mortgage) and then another reduction when the state pension kicks-in, taking me into my late 80's (as mentioned earlier). The way I've lived my life it would be a miracle if I exceed this. |
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I,m in contracting and literally 1000,s of lads now on ltd company,umberella schemes, great for now but not building up any NI contributions paying minimum rates if any, there,ll be squeals a plenty in 3o years time from people expecting the full state pension and not having the contributions in ,
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Well I've got my 35 NI years in (37 I think mine is) so should be ok unless they increase it again
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yeh mine are in
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You also get your pension a year before me... have to wait until I'm 67
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?? Unless they opt out (which I think is being done away with) people with Umbrellas or Ltds who pay a salary will be be paying PAYE and NI contributions.
Not sure about Sole Trader who are a bit odd. |
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The NI level to make it a full pension year isn't actually that high.
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Class 2 contributions pay state pension for sole traders. £2.95 pw
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