Pension advice
Discussion
I'm with Ginge R on this.
My pension was with Halifax until 6 months ago. I transferred it to their sipp as I wasn't happy with its performance.
In the 5 years until I transferred it had lost 2 grand. Since transferring it's gone up by 5 grand.
Until I'd moved the pension to the sipp I had never purchased a share or a fund or a unit trust in my life!
At first it's very daunting but with research it gets easier
My pension was with Halifax until 6 months ago. I transferred it to their sipp as I wasn't happy with its performance.
In the 5 years until I transferred it had lost 2 grand. Since transferring it's gone up by 5 grand.
Until I'd moved the pension to the sipp I had never purchased a share or a fund or a unit trust in my life!
At first it's very daunting but with research it gets easier
FGB said:
I'm with Ginge R on this.
My pension was with Halifax until 6 months ago. I transferred it to their sipp as I wasn't happy with its performance.
In the 5 years until I transferred it had lost 2 grand. Since transferring it's gone up by 5 grand.
Until I'd moved the pension to the sipp I had never purchased a share or a fund or a unit trust in my life!
At first it's very daunting but with research it gets easier
Good for you My pension was with Halifax until 6 months ago. I transferred it to their sipp as I wasn't happy with its performance.
In the 5 years until I transferred it had lost 2 grand. Since transferring it's gone up by 5 grand.
Until I'd moved the pension to the sipp I had never purchased a share or a fund or a unit trust in my life!
At first it's very daunting but with research it gets easier
Out of interest which years did these periods cover?
DoubleSix said:
FGB said:
I'm with Ginge R on this.
My pension was with Halifax until 6 months ago. I transferred it to their sipp as I wasn't happy with its performance.
In the 5 years until I transferred it had lost 2 grand. Since transferring it's gone up by 5 grand.
Until I'd moved the pension to the sipp I had never purchased a share or a fund or a unit trust in my life!
At first it's very daunting but with research it gets easier
Good for you My pension was with Halifax until 6 months ago. I transferred it to their sipp as I wasn't happy with its performance.
In the 5 years until I transferred it had lost 2 grand. Since transferring it's gone up by 5 grand.
Until I'd moved the pension to the sipp I had never purchased a share or a fund or a unit trust in my life!
At first it's very daunting but with research it gets easier
Out of interest which years did these periods cover?
I've only kept records for the last 5 but my gut feeling is the big banks etc don't actively manage any of their pension funds - once you are free of their Investment "strategies" you can pick from market leading funds etc and get the thing building.
I am no longer left feeling they a taking their 1% per year and sending me annual summaries saying things haven't been too great !
Oh and if anyone is feeling similar when you are trying to work out how your current provider is performing remember and take out any money you have paid in each year to see how your pot is "growing". My pot was "growing" - but not by as much as I was paying in each year !!
FGB said:
I've just checked my spreadsheet - last 5 years of non sipp = -£3309 - 6 months in Sipp = +£5710.
I would describe my investment strategy as UBER SAFE - I didn't switch all the SIPP into Gold stocks just after the brexit vote - but I probably should have
Isn't this nothing to do with SIPP / non-SIPP and everything to with the performance of the underlying markets in which you are invested?? (I.e. You aren't comparing like with like)?!I would describe my investment strategy as UBER SAFE - I didn't switch all the SIPP into Gold stocks just after the brexit vote - but I probably should have
sidicks said:
Isn't this nothing to do with SIPP / non-SIPP and everything to with the performance of the underlying markets in which you are invested?? (I.e. You aren't comparing like with like)?!
My thought too. No disrepsect to FGB but anyone can make money in a rising market. The trick is not to lose it when it goes south.sidicks said:
FGB said:
I've just checked my spreadsheet - last 5 years of non sipp = -£3309 - 6 months in Sipp = +£5710.
I would describe my investment strategy as UBER SAFE - I didn't switch all the SIPP into Gold stocks just after the brexit vote - but I probably should have
Isn't this nothing to do with SIPP / non-SIPP and everything to with the performance of the underlying markets in which you are invested?? (I.e. You aren't comparing like with like)?!I would describe my investment strategy as UBER SAFE - I didn't switch all the SIPP into Gold stocks just after the brexit vote - but I probably should have
My advice has always been to see proper IFA Advice - however my personal choice has been to f
k the s that have been creaming 1% off my fund for doing fk all FGB said:
I'm aware of that - And I even stated it in my original post !
My advice has always been to see proper IFA Advice - however my personal choice has been to fk the s that have been creaming 1% off my fund for doing fk all
Haven't they been administering your pension and investing the money on your behalf?My advice has always been to see proper IFA Advice - however my personal choice has been to f
k the s that have been creaming 1% off my fund for doing fk all Simpo Two said:
sidicks said:
Isn't this nothing to do with SIPP / non-SIPP and everything to with the performance of the underlying markets in which you are invested?? (I.e. You aren't comparing like with like)?!
My thought too. No disrepsect to FGB but anyone can make money in a rising market. The trick is not to lose it when it goes south.Simpo Two said:
sidicks said:
Isn't this nothing to do with SIPP / non-SIPP and everything to with the performance of the underlying markets in which you are invested?? (I.e. You aren't comparing like with like)?!
My thought too. No disrepsect to FGB but anyone can make money in a rising market. The trick is not to lose it when it goes south.Ozzie Osmond said:
FGB said:
Indeed - we'll see how I'm doing in the middle of next year once article 50 is done !
Not pension specific, but I scaled back my UK stock market exposure through the late summer boom. I fear the post vote euphoria may be short-lived..Where to next is the big question of course
Decisions decisions.
I have spent a few hours with someone who invested £320,000 from cash, eight months ago, and who has turned a profit (after costs and charges) so far, of £51,000. Most advisers have clients who are governed by fear and greed, this lady doesn't particularly need or want to stay invested, so she's parking in a much lower risk/volatitity portfolio and then gradually reinvesting over the course of the next six months whilst making a hefty pension single contribution from income with a sum equiv to most of the profit (further adding to her gain by receiving additional tax relief at 40%). Not bad for a summer's work.
Know why you're investing - have a plan.
I have spent a few hours with someone who invested £320,000 from cash, eight months ago, and who has turned a profit (after costs and charges) so far, of £51,000. Most advisers have clients who are governed by fear and greed, this lady doesn't particularly need or want to stay invested, so she's parking in a much lower risk/volatitity portfolio and then gradually reinvesting over the course of the next six months whilst making a hefty pension single contribution from income with a sum equiv to most of the profit (further adding to her gain by receiving additional tax relief at 40%). Not bad for a summer's work.
Know why you're investing - have a plan.
Ginge R said:
I have spent a few hours with someone who invested £320,000 from cash, eight months ago, and who has turned a profit (after costs and charges) so far, of £51,000. Most advisers have clients who are governed by fear and greed, this lady doesn't particularly need or want to stay invested, so she's parking in a much lower risk/volatitity portfolio and then gradually reinvesting over the course of the next six months whilst making a hefty pension single contribution from income with a sum equiv to most of the profit (further adding to her gain by receiving additional tax relief at 40%). Not bad for a summer's work.
Like I said, anyone can make money in a rising market. Don't big yourself up too obviously.
Ginge R said:
Good stuff. You've come this far, I'd be inclined to go a little further and look for a pension which can be had cheaper than 1.45. No reason why, unless your dad;s fund is tiny, you shouldn't pick one up for c.0.5 or so. Good luck, persevere!
Yea I was thinking about this going idea. Any usual suspects I should check out? 
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