How big should my pension pot be ?

2456722

Comments

  • Checking my current pension, the 3 funds that I currently invest in (Axa Global Equity, Axa Overseas and Axa UK Tracker) are showing up 10.9%, 13.9% and 21.4% against cost at last statement so that's fairly positive I guess.
  • marklv
    marklv Posts: 1,768 Forumite
    bendix wrote: »
    He's got 26 years to go before retirement. Plenty of time to ride out a few bumps in the stockmarket.

    At that age, he should be at least 75% in stocks, with a chunk of that overseas and in emerging markets.

    It depends on one's risk tolerance. Personally I would go 50% global tracker, 50% gilts.
  • Paul_Herring
    Paul_Herring Posts: 7,481
    Name Dropper Photogenic First Post First Anniversary
    Forumite
    worto03 wrote: »
    I'm only just getting the hang of this myself so correct me if I'm wrong but you should also get your state pension ontop of anything from your company pension which should help too

    Depends. Do you think there'll be a non-trivial (non-means tested) state pension when you retire?

    I'm doing my planning assuming there won't be in 30 years time. If there is it'll be a nice surprise.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
  • marklv
    marklv Posts: 1,768 Forumite
    I reckon the state pension will soon cease to exist as anything except a safety net for the poor. I believe Cameron is already planning to get rid of it.
  • JoeCrystal
    JoeCrystal Posts: 3,001
    Name Dropper First Anniversary First Post
    Forumite
    :cool: Indeed, that why I reckon it would be even more vital for people who have their own pensions. Which is why I am looking into having one starting from this January.
  • dunstonh
    dunstonh Posts: 116,041
    Name Dropper First Anniversary Combo Breaker First Post
    Forumite
    marklv wrote: »
    I reckon the state pension will soon cease to exist as anything except a safety net for the poor. I believe Cameron is already planning to get rid of it.

    I reckon that may end up being the case or something along those lines with the second state pension over the long term. I think the basic state pension is pretty safe though.

    Pension credit is more likely to go first though. Although ironically it may end up be raises in the basic state pension that take care of that.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • marklv
    marklv Posts: 1,768 Forumite
    I doubt all this. I think the state pension will simply become another benefit, like JSA or disability benefit and become fully means tested.
  • dunstonh
    dunstonh Posts: 116,041
    Name Dropper First Anniversary Combo Breaker First Post
    Forumite
    marklv wrote: »
    I doubt all this. I think the state pension will simply become another benefit, like JSA or disability benefit and become fully means tested.

    The move to state pension age to 68 is a reduction. That is likely to get extended to 70. Each increase in age reduces the draw on the pot that allows them to keep it running.

    You never know, if obesity continues as it has been going then a good proportion of the UK population arent going to make it to retirement and we could see life expectancy fall. :)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • marklv
    marklv Posts: 1,768 Forumite
    dunstonh wrote: »
    The move to state pension age to 68 is a reduction. That is likely to get extended to 70. Each increase in age reduces the draw on the pot that allows them to keep it running.

    You never know, if obesity continues as it has been going then a good proportion of the UK population arent going to make it to retirement and we could see life expectancy fall. :)

    Well, moving the goalposts is the same as abolishing goals! They might as well move the state pension age to 80.
  • Paul_Herring
    Paul_Herring Posts: 7,481
    Name Dropper Photogenic First Post First Anniversary
    Forumite
    They might as well move the state pension age to 80.
    You think that won't happen in the next few years or so?

    They've already added 7 years to womens' pension age - it's not a huge step to add another three to everyone.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards