The Retirement Thread
2 lurkers |
158 watchers
Apr 2021
10:50am, 6 Apr 2021
19,395 posts
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Bazoaxe
The vagaries of the stock market can be a worry. My pension pot has gradually risen over time with the odd drop Last Feb / March I had a sizeable drop and was in loss territory but that was gradually made up over the rest of the year and had now made up those losses and grown further. I do have a dilemma coming up as I have some historical money that has done very well but my scheme is removing these funds as options and will move my money to the default. The default had done ok but is more expensive. There are some funds I can choose but I am not sure what ones I should consider it do I go with the default. |
Apr 2021
10:56am, 6 Apr 2021
2,987 posts
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Dave W
It has been my experience that financial institutions "defaults" aren't usually the best for the client. Sometimes they're okay, but sometimes they're pretty dire. But that said, only you know what's best for you in your particular circs. |
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Apr 2021
11:04am, 6 Apr 2021
19,396 posts
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Bazoaxe
Yeah I have that concern as well. In this case though I work for the financial institution involved and I know that a lot more has gone into the selection of the default so I am not all that concerned other than by the cost of it. However I did like having a portion invested elsewhere. I maybe need to review the restricted options in more detail and keep that money invested separately.
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Apr 2021
11:08am, 6 Apr 2021
20,644 posts
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GimmeMedals
Everyone else I know who have PBs have a win most months, Paul. I started off well, but it's a random thing 
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Apr 2021
11:18am, 6 Apr 2021
52,135 posts
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Velociraptor
I've had five Premium Bonds for 57 years (my parents started buying me one a month when I was born but couldn't afford to continue) and haven't had a penny from them. I did dip in and out with larger sums later and had some little prizes but always ended up having to cash them in for some expense or other. I suspect I'll point some of my pension commencement lump sum that way.
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Apr 2021
11:22am, 6 Apr 2021
4,512 posts
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um
Snap v'rap. Well, 3 for 56 years for me. No prizes ever. But we do get regular dribbles from the larger amount deposited from a few years back. No big wins though. |
Apr 2021
11:36am, 6 Apr 2021
22,854 posts
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Dave A
TMW: My understanding is that I will keep those rights till April 2022 then move to the new scheme.
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Apr 2021
11:57am, 6 Apr 2021
5,002 posts
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westmoors
I've never had a Premium Bond win, but I only have about £8 worth. Might consider purchasing a decent bundle.
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Apr 2021
12:37pm, 6 Apr 2021
2,136 posts
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WtnMel
Like others, with interest rates so low, I bought some PB's figuring if I got some small wins, it would probably equal or better any interest earned in a savings account - so far, that has proved to be the case. When I was younger I was aware of the advice to think long-term and invest in the stock market via a unit trust. Problem was, I had a big mortgage and didn't have any spare money. I'm old enough to remember mortgage rates being as high as 18% in the 80's. |
Apr 2021
1:17pm, 6 Apr 2021
8,288 posts
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Too Much Water
Dave A - Ah, that’s the McCloud ruling which is causing me a lot of anguish
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HellsBellsUseful Links
FE accepts no responsibility for external links. Or anything, really.- Money Helper
- How Much is Enough to Retire On?
- Retirement Living Standards
- How much will you need to retire?
- Free Govt website for pension advice
- SIPP pensions
- ISAs
- Check your National Insurance contributions
- Check your state pension account
- Martin Lewis on pensions
- Support and advice for those widowed under the age of 50
- Power of Attorney information
- Making the most of your retirement
- 20 tips for a happy retirement
- Married Couple's Allowance
- Aviva guide to retirement planning
- U3A
- U3A Local Sites - map
- Make a Power of Attorney
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