Pensions.

Anyone else had a bad year with the value of their pension pot taking a right kicking over the last year?

I was talking to a mate the other week who has seen the value of his pension pot decimated by over 50%.

One of mine hasn’t lost anywhere near to 50% but it has dropped by £20k. Bad investments or just how it is?

Discuss.

the maoster:
Anyone else had a bad year with the value of their pension pot taking a right kicking over the last year?

I was talking to a mate the other week who has seen the value of his pension pot decimated by over 50%.

One of mine hasn’t lost anywhere near to 50% but it has dropped by £20k. Bad investments or just how it is?

Discuss.

As we’ve talked about before…completely missed the boat with mine,.I’m gonna break the record of that old geezer on You Tube, still trucking at 90.

Lost my Sooper dooper grade A gold and platinum style pension when the business went ■■■■ up,.and it was the first thing the ■■■■ s took off me.

I thought I was always going to be the incredibly young and hunky god like type of buck I once was,.and just never got around to renewing it, thinking…nah plenty time.
But life caught me up. gone from a young hunk to an aging hunk.
So basically Jack sh is the order of the day.

However, never to be beaten…
Got a cunning plan…win the lottery.
Or even looking at moving to Lincs in next 10 to 15 years to be a kept man.
Do you know anybody who lives down there who would look after me??

With interest…

Rates for savers at just over 3%, stick some of it into the new start up banks. They’ll provide FSCS protection to £85,000, instant access and interest paid monthly.

Marcus from Goldman Sachs and Chase are worth looking into.

robroy:
Or even looking at moving to Lincs in next 10 to 15 years to be a kept man.
Do you know anybody who lives down there who would look after me??

There’s loads…

Of retirees/lottery winners/chancers/spivs moved in. Good house prices (at the moment) and a way of life that is glacially slow. Last week whilst I was filling up with petrol, there were chickens wandering around the forecourt.

the maoster:
Anyone else had a bad year with the value of their pension pot taking a right kicking over the last year?

I was talking to a mate the other week who has seen the value of his pension pot decimated by over 50%.

One of mine hasn’t lost anywhere near to 50% but it has dropped by £20k. Bad investments or just how it is?

Discuss.

As they say “Investments can go up as well as down” and here is an example of it.
A 50% drop by your mate seems out of the average.
One of my funds has (past 12 months) dropped 0.3% and one actually risen 0.6%.
No skill on my part, just the way it goes. Maybe the investments I have are less volatile and earnt less in previous years?
We all know it should be looked at in the long term, and one year isnt that long a term. But....yeah, it is a bit off-putting when it does drop. Jumping around incurring charges following what was the best performing investment *last year* wont often help in the next year. Some can do that for sure, but not many.

What would do better? Bank interest rates are up a bit but are not inflation beating.

Higher rates normally mean higher risk and those who make good profits sing out loud.
Those who catch a cold mostly shrug their shoulders and get on with summat else.

One year in the time line of a typical pension fund? Next to nowt.

We all know the people responsible, who all expect us to vote them back in again. Personally I think hung, drawn & quartered is too good for them, I’d like to see the full McCoy and make them watch their entrails being burnt in front of them.

cav551:
We all know the people responsible, who all expect us to vote them back in again. Personally I think hung, drawn & quartered is too good for them, I’d like to see the full McCoy and make them watch their entrails being burnt in front of them.

Wasn’t it the illustrious…
Gordon Brown …’
(Texture like sun, never a frown with Gordon Brown’)
I recall a few frowns when he ran the country.

I’ve lost £2K since June 2021 so that’s disappointing, no growth in almost 2 years. (No contributions in that time).
It’s about 5% down from the high point of 1st April last year.
Still, 40% up in 4 years, I can’t complain.

robroy:

cav551:
We all know the people responsible, who all expect us to vote them back in again. Personally I think hung, drawn & quartered is too good for them, I’d like to see the full McCoy and make them watch their entrails being burnt in front of them.

Wasn’t it the illustrious…
Gordon Brown …’
(Texture like sun, never a frown with Gordon Brown’)
I recall a few frowns when he ran the country.

There certainly were a few frowns. Not all plain sailing of course.
Not enough to stop Blair/Brown being re-elected though was it?

At the time the Tory opposition were in favour of slacker control of the economy but the Tory press forgot all of that after the global crash.

To refresh your memory here is what the Economy was actually doing under Brown. In 1997 he started as Chancellor until 2010 ended as PM.
macrotrends.net/countries/G … per-capita
What do you see?

I think like a few of us that grew up in the 60’s\70’s I didnt really think about growing old.Worked for a lot of ‘cash in hand’ guys who 'forgot ’ about social costs & when I had my own truck running ME I forgot about all ‘extra’ costs just being glad with handfulls of cash.I really expected my old age to be penury so spent my savings here buying everything for cash,Cottage,car,snowscooter,quad etc so I could survive on a minimum income.
To my surprise however the time I lived in Holland [30 yrs]the Dutch companies [even the bad ones] paid all the social costs so I was more that a little pleased to receive a substantial pension [2 of them]from Holland when I got to 66,+ my minimun pension from the UK & a little from Sweden,so all thing considered im OK.I think a lot depends where you work,who has control over your money.

Franglais:
What do you see?

What do I see?
An unquestionable staunch Labour fanatic who refuses to see anything wrong with the way that party has changed over the years,.and will.hear nothing wrong said about it…however true it may be…aka in denial.

I personally come under the demographic of a natural Labour party supporter, …in fact I once was.

Last time I (rightly or wrongly) voted Tory, but I ain’t ashamed to call them a bunch of wonkers now becausec of the.way they are presently, to the point where I may or may not vote for them again… because I ain’t a blind or blinkered supporter.

the maoster:
Anyone else had a bad year with the value of their pension pot taking a right kicking over the last year?

I was talking to a mate the other week who has seen the value of his pension pot decimated by over 50%.

One of mine hasn’t lost anywhere near to 50% but it has dropped by £20k. Bad investments or just how it is?

Discuss.

ANY Investment Broker will “advise” that the worst thing you can do is look over your investments over ONE single year!!!

How have they done over TEN years is more like it!!!

Sent from my SM-A125F using Tapatalk

Unlike most of you , I have the chance to vote S.N.P. ,What could possibly go wrong?!!!

Big Truck:
How have they done over TEN years is more like it!!!

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The truth is that until three years ago I’d forgotten that I even had this pension! Royal London eventually tracked me down and sent me an annual statement telling me that I had £138k in my pot from a pension I only contributed towards for ten years. It’s been dormant since the year 2000 so I reckon that there have been some good investments made in the intervening years.

Being the kind of person who does’nt trust either the gubernment, or sales people any further than I can throw them, I’m doubtfull of there being any worthwile pension in about 15 years time, let alone going forward from that time.
Having seen pensions being stolen or massively diluted in the past, either by unscrupulous c*nts like Maxwell (may he and his rotten offspring rot for ever more), companies “defering pension payments” to make the books look better, or simply going bust, I have always been wary about putting my money into such pots. Mind you, I never really had much to put away in the first place.

I’ve done the usual over the years, started a family and bought a house in my late twenties (the ex sold it last year, and bought a lovely bungalow outright with it…). Having recently turned 55 ( I know… I still get asked for ID when I buy alcohol), thoughts of retirement are getting more frequent. Realising that receiving anything worthwile after I retire, and realising that paying rent would leave sweet f-all to live on, I’ve decided to cash in a few of the small retirement pots that I had from a few jobs over the last years, and use that as a deposit on a property, the mortage for which I can pay of before I retire. That will leave me with a rent free roof over my head, and hopefully a pension to buy food. Luckily the garden has a large garden, to grow veg, and backs onto land and a small river, so that could supplement the kitchen.

One thing I’m glad about, is that I never expected to retire on a massive gold plated pension, so I wont miss anything like cruises etc, I’ll be happy to retire and just potter in the back, catching a few trout and the odd rabbit.

I doubt their pension has lost 50%, if it has it must be a really dire one and they need to get their money anywhere else.

Stock markets have taken a bit of a kicking at various points this last 12 months but I’ve just used that as an opportunity to pay in even more because everything is on sale. Looking at the charts for the index fund I invest in my SIPP over the past 12 months it’s gone up 0.65%, at the worst point it dropped -8.29% in July 2022. Over a 3 year period it’s up 43%. And that’s the point. You should be looking at your pension performance over the longer term, not just a few months or a year.

cav551:
We all know the people responsible, who all expect us to vote them back in again. Personally I think hung, drawn & quartered is too good for them, I’d like to see the full McCoy and make them watch their entrails being burnt in front of them.

Oh god here we go again.

Nothing to do with the Tories or Brexit, it’s to do with the pandemic and resulting global lockdown and the war in Ukraine. 60% of my SIPP is invested in the USA, 95% of my SIPP is invested outside of the UK, only 5% of my SIPP is invested in the UK and it’s dropped almost double digit percentages at various points of the last 12 months. So clearly nothing to do with the Tories or Brexit.

And just to remind you that the biggest market crash this century happened under Labour’s government. Deeper and many times longer coming out of it than the 2020 crash caused by the pandemic.

If you’re not prepared to do even basic research of facts then don’t post comments about economics. Saying “muh evil torees fault innit” just makes you look a clown.

the maoster:

Big Truck:
How have they done over TEN years is more like it!!!

Sent from my SM-A125F using Tapatalk

The truth is that until three years ago I’d forgotten that I even had this pension! Royal London eventually tracked me down and sent me an annual statement telling me that I had £138k in my pot from a pension I only contributed towards for ten years. It’s been dormant since the year 2000 so I reckon that there have been some good investments made in the intervening years.

KERCHIIIIIIIIIINK!!! LOL

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Big Truck:
KERCHIIIIIIIIIINK!!! LOL

He’ll still…

Be first out of the taxi and last into the bar.

Franglais:
To refresh your memory here is what the Economy was actually doing under Brown. In 1997 he started as Chancellor until 2010 ended as PM.
macrotrends.net/countries/G … per-capita
What do you see?

Ah the old “GDP per capita displayed in USD” not GBP trick common amongst left wing remoaners, especially journalists, in order to try to present a narrative that fits in with their “tories evil brexit bad” worldview. Why would you look at it in USD when you buy stuff in the UK in GBP? When you look at it in GBP it shows an entirely different story, one that shows constant growth from the bottom of the recession in 2009 until the crash caused by the pandemic in 2020.

statista.com/statistics/970 … in-the-uk/

And before you bang on about the value of sterling falling in 2016 which is why you do it in USD to try to make a point that muh evil torees made you poorer and making stuff more expensive may I suggest you do some research on historic inflation rates. The year Sterling devalued 16% against the USD the inflation rate was 1.01% peaking at 2.56% in 2017 before falling again.

What I see when I look at your graph is a 10 year boom from 1997 fuelled by a 300% rise in house prices and an increase in spending fuelled by a massive fivefold increase in personal debt from 1997-2008 enabled by a relaxing of lending rules. That was followed by massive drop of 24% in 2008 which wiped out half a decade of gains and which ended up deeper than it needed to be because Brown chose to ignore all the warnings the financial sector was telling him about unsustainable mortgage debt, the lack of any control over mortgage lending and the lack of fiscal rules over bank reserves which contributed to Northern Rock going bang and the UK government having to buy out RBS.