camem' Posted October 7, 2008 Share Posted October 7, 2008 Advisor said not to switch funds now as I'd be consolidating losses. On the bright side, I'm not old yet Quote Link to comment Share on other sites More sharing options...
dude wheres my house Posted October 7, 2008 Share Posted October 7, 2008 I started mine this year, and i have less than has been put in but if you want to think positively, the money you put in now will buy you more stock than it would have last year. and i am not expecting to claim for another 40 years so got some time to come back Quote Link to comment Share on other sites More sharing options...
Sinking Feeling Posted October 7, 2008 Share Posted October 7, 2008 (edited) Look on the bright side - someone sold their shares which your fund bought, so technically no money has actually been lost it's just been transferred to a lucky individual who is able to live a comfortable lifestyle using your money. Edited October 7, 2008 by Sinking Feeling Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted October 7, 2008 Share Posted October 7, 2008 Advisor said not to switch funds now as I'd be consolidating losses. On the bright side, I'm not old yet one aspect not discussed on here in much detail of late although we've touched on the subject often. Yep all the FTSE gains over past five years now wiped out, and that's before taking inflation into consideration. Markets historically take a long time to recover, iirc a 'rule of thumb' is it'll take 15 years of steady gains to balance out five years of losses and put pensions back on track (if pension fund is mainly geared towards the top 250 UK companies) So tha'ts that fukced then. Quote Link to comment Share on other sites More sharing options...
ftbinthewaiting Posted October 7, 2008 Share Posted October 7, 2008 (edited) I moved my pension in october 2007 to a 'deposit' account, and out of any exposure to stocks and shares. Not megabucks - I now have 18 months of contributions in total - pushing £10K now. Just adding that for context rather than to gloat, but I am wondering at what point to think about transferring back to a shares-based fund. Maybe at 3500 on the FTSE? Any suggestions when it might bottom out? I might consider taking advantage of the 'shares portion' of my ISA allowance at the same point. Edited October 7, 2008 by ftbinthewaiting Quote Link to comment Share on other sites More sharing options...
billybong Posted October 7, 2008 Share Posted October 7, 2008 Buy warm clothing and a cheap barbecue, a decent supply of supply of matches, fire lighters and charcoal brickets. Top up on petrol. At least cooking food will be possible and not tied to one location. Quote Link to comment Share on other sites More sharing options...
Sinking Feeling Posted October 7, 2008 Share Posted October 7, 2008 I moved my pension in october 2007 to a 'deposit' account, and out of any exposure to stocks and shares. Not megabucks - I now have 18 months of contributions in total - pushing £10K now. Just adding that for context rather than to gloat, but I am wondering at what point to think about transferring back to a shares-based fund. Maybe at 3500 on the FTSE? Any suggestions when it might bottom out? I might consider taking advantage of the 'shares portion' of my ISA allowance at the same point. I think it could go either side of 3000 by late 2010 early 2011. Quote Link to comment Share on other sites More sharing options...
cells Posted October 7, 2008 Share Posted October 7, 2008 cant go wrong with bricks & .... Quote Link to comment Share on other sites More sharing options...
camem' Posted October 7, 2008 Author Share Posted October 7, 2008 Look on the bright side - someone sold their shares which your fund bought, so technically no money has actually been lost it's just been transferred to a lucky individual who is able to live a comfortable lifestyle using your money. Oh good. I suppose that means I can feel all smug for not creating my hard earned dosh out of thin air. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted October 7, 2008 Share Posted October 7, 2008 keep putting money in while it's low - the time to buy is when everyone else is selling, especially if you have years let to put money in - and don't forget you are getting up to 40% tax free Quote Link to comment Share on other sites More sharing options...
Garry AKA Pod Posted October 7, 2008 Share Posted October 7, 2008 Change jobs and work for your local council. Quote Link to comment Share on other sites More sharing options...
Mr Nice Posted October 7, 2008 Share Posted October 7, 2008 (edited) I moved my pension in october 2007 to a 'deposit' account, and out of any exposure to stocks and shares. Not megabucks - I now have 18 months of contributions in total - pushing £10K now. Just adding that for context rather than to gloat, but I am wondering at what point to think about transferring back to a shares-based fund. Maybe at 3500 on the FTSE? Any suggestions when it might bottom out? I might consider taking advantage of the 'shares portion' of my ISA allowance at the same point. historically, the bottom of a crash for socks ends up being when average p/e's are down to about 7-8. honestly, there is no reason to think that stocks are going up any time soon, and they really have a good ways that they could still fall. I wouldn't be in that big of a rush to tie my savings up in them. you are much better off buying in on the upswing than trying to time the bottom and buying in on the downswing. and for those that say just to keep buying since now they are so cheap, as the previous poster said, recoveries take years (10-20) to buy a bunch of stocks now that stay flat or go down for the next 10 years ends up costing you so much in inflationary or real loss that it doesn't make up for the cheap price you got them for. Edited October 7, 2008 by Mr Nice Quote Link to comment Share on other sites More sharing options...
ftbinthewaiting Posted October 7, 2008 Share Posted October 7, 2008 (edited) historically, the bottom of a crash for socks ends up being when average p/e's are down to about 7-8.honestly, there is no reason to think that stocks are going up any time soon, and they really have a good ways that they could still fall. I wouldn't be in that big of a rush to tie my savings up in them. you are much better off buying in on the upswing than trying to time the bottom and buying in on the downswing. and for those that say just to keep buying since now they are so cheap, as the previous poster said, recoveries take years (10-20) to buy a bunch of stocks now that stay flat or go down for the next 10 years ends up costing you so much in inflationary or real loss that it doesn't make up for the cheap price you got them for. thanks for the advice ... I think I'll stick to my cash ISAa, savings interest, and fixed deposit pension. Low risk - except for high inflation / currency collapse Edited October 7, 2008 by ftbinthewaiting Quote Link to comment Share on other sites More sharing options...
evictee Posted October 7, 2008 Share Posted October 7, 2008 Advisor said not to switch funds now as I'd be consolidating losses. Eh? I'd switch advisors... Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted October 7, 2008 Share Posted October 7, 2008 Advisor said not to switch funds now as I'd be consolidating losses. On the bright side, I'm not old yet convert to cash? for a spell - I reckon the markets have only started going down - will end up where our economy is going - perhaps another 60% to fall from where they stand today. Nothing will save main street now. Quote Link to comment Share on other sites More sharing options...
kilroy Posted October 7, 2008 Share Posted October 7, 2008 keep putting money in while it's low - the time to buy is when everyone else is selling, especially if you have years let to put money in - and don't forget you are getting up to 40% tax free everyone will be selling for the next few years. After the 1929 crash, the market continued to lose, as a whole, around 90% from peak over the next 3 years. This is worse than the thirties, IMHO Quote Link to comment Share on other sites More sharing options...
renterbob Posted October 7, 2008 Share Posted October 7, 2008 You pay into a pension? Are you all dumb? When a colleague found out I do not pay into a scheme she cancelled hers soon after. Spoke to her this evening, she was very grateful. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted October 7, 2008 Share Posted October 7, 2008 Change jobs and work for your local council. See the tax abuser web site for details! Quote Link to comment Share on other sites More sharing options...
ftbinthewaiting Posted October 7, 2008 Share Posted October 7, 2008 You pay into a pension? Are you all dumb? When a colleague found out I do not pay into a scheme she cancelled hers soon after. Spoke to her this evening, she was very grateful. My employer doubles my contribution - and its tax free. So I pay £200, tax free - cost to me about £120 - and get £600 per month in my pot. Damn right I pay into a pension!!!! Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted October 7, 2008 Share Posted October 7, 2008 You pay into a pension? Are you all dumb? When a colleague found out I do not pay into a scheme she cancelled hers soon after. Spoke to her this evening, she was very grateful. Anyone under 50 putting money into a pension it simply pouring money down the drain. Did I say 50? I meant 60. Quote Link to comment Share on other sites More sharing options...
kokyu Posted October 7, 2008 Share Posted October 7, 2008 Anyone under 50 putting money into a pension it simply pouring money down the drain. Did I say 50? I meant 60. Well said. What a massive con they are. The truth is everyone will have to work till they die or are incapable, just like in most of human history except the last 50 or so years. But that's probably not what most people want to hear. Quote Link to comment Share on other sites More sharing options...
dude wheres my house Posted October 7, 2008 Share Posted October 7, 2008 Its not a company pension scheme, its all in shares and other investments. Do you reckon the govt is going to try and steal it all. I think id rather have a punt on not starving in my old age than not save anything and be sure of it Quote Link to comment Share on other sites More sharing options...
ftbinthewaiting Posted October 7, 2008 Share Posted October 7, 2008 Well said. What a massive con they are. The truth is everyone will have to work till they die or are incapable, just like in most of human history except the last 50 or so years. But that's probably not what most people want to hear. Self-fulfilling prophecy?? I'd rather take a punt on providing for my future too - whilst I'm fit and able! Quote Link to comment Share on other sites More sharing options...
Compounded Posted October 7, 2008 Share Posted October 7, 2008 I moved mine to gold in April - it's 9% up since then. It is 60% up over what it would have been if I had left it on the stock market - incidentally this is due to applying knowledge I have learned on this site. Quote Link to comment Share on other sites More sharing options...
DebitCrunch Posted October 7, 2008 Share Posted October 7, 2008 Was about time someone noticed that our pensions were being hit to buy the banks out. Hedge funds can not short as they did and thats only half the story. one aspect not discussed on here in much detail of late although we've touched on the subject often. Yep all the FTSE gains over past five years now wiped out, and that's before taking inflation into consideration. Markets historically take a long time to recover, iirc a 'rule of thumb' is it'll take 15 years of steady gains to balance out five years of losses and put pensions back on track (if pension fund is mainly geared towards the top 250 UK companies) So tha'ts that fukced then. Not if you work in the public sector as remember last time they demanded we tax payers made good their pensions. Quote Link to comment Share on other sites More sharing options...
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