PensionBee plans
Discussion
At the start of the year I though i would roll up a couple of my old pensions into a PensonBee fund and the idea was to stick it in the highest risk investment fund and forget about it.
It has been in there 8 weeks now and as the stock market has been going great guns I thought I would see how 7k in an investment fund is performing.
I lost 85 quid. How on earth has an investment fund lost money in this market.
Can someone who is not as inept as I am at financial stuff recommend a better PensionBee plan to put my money in?
I was advised the highest risk one was their pre-annuity plan.
https://www.pensionbee.com/plans
It has been in there 8 weeks now and as the stock market has been going great guns I thought I would see how 7k in an investment fund is performing.
I lost 85 quid. How on earth has an investment fund lost money in this market.
Can someone who is not as inept as I am at financial stuff recommend a better PensionBee plan to put my money in?
I was advised the highest risk one was their pre-annuity plan.
https://www.pensionbee.com/plans
I told the advisor that I wanted the highest risk, I am not sure why bonds would be assessed as the most bullish fund they have - very strange. I was probably talking to a bot.
To be honest I wish I had just taken it all out and dumped it in my Coinbase account - I think that has risen about 50% in the same time frame.
To be honest I wish I had just taken it all out and dumped it in my Coinbase account - I think that has risen about 50% in the same time frame.
Have not checked my PensionBee account since I swapped my investments over to their tracker fund nearly 2 months ago. Just noticed in the news this week that prices across the FTSE 100 have risen sharply in those 2 months so I checked my account and expected a reasonable uptick.
I am 20 quid down on top of the 85 quid I lost in the first 2 months of the year.
Along with the compounding effects of inflation I am starting to think my money should be elsewhere. What is the point of having something sitting there losing money in what is supposedly a bull market?
I am 20 quid down on top of the 85 quid I lost in the first 2 months of the year.
Along with the compounding effects of inflation I am starting to think my money should be elsewhere. What is the point of having something sitting there losing money in what is supposedly a bull market?
xeny said:
FTSE 100 over the past month has behaved very differently to a global tracker where the bull market paused about 6 weeks ago.
Kind of wonder if you want to be this hands on, a SIPP may be a better fit than Pension Bee?
It is just 7k so not my main pension fund or even my secondary one - it was always meant to be just a third high risk fund.Kind of wonder if you want to be this hands on, a SIPP may be a better fit than Pension Bee?
Maybe I should look at SIPP instead as you say.
Maybe I am just late to the party as the tracker plan did a respectable 16.9% last year.
https://www.pensionbee.com/blog/2024/february/our-...
Looking at those results I am tempted to jump ship to the Shariah plan - 27.4%!
https://www.pensionbee.com/blog/2024/february/our-...
Looking at those results I am tempted to jump ship to the Shariah plan - 27.4%!
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hstewie said:
hstewie said: Respectfully you've jumped from all bonds to a tracker to a Shariah plan and we're only on the first page 
That's not going to end well.
The first thing to do is to stop keep jumping from one thing to another and understand what you're investing in, why you're investing in it, and to stick to the plan.
Fair comment.That's not going to end well.
The first thing to do is to stop keep jumping from one thing to another and understand what you're investing in, why you're investing in it, and to stick to the plan.
I guess my usual approach of fail fast and find something that works does not really apply to pension investments
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