Is it just me, or do you feel aggrieved too?

JayBrun

Oldernotwiser wrote: »

I would just thank your lucky stars that you earn enough to have done all that and to have savings as well. You're in a situation that millions would be envious of and still you want more.

I can't recall anyone saying they wanted more - for many of us it wasn't entirely down to luck either - hard work came into it along with some good old fashioned thrift.

No-one should have to apologise for saving and expecting those savings in normal times to at least maintain their value.
Otherwise there's little point in saving and you might just as well have engaged in a spending spree like many others did.

The way things are, like many others, I'd be more than happy to settle for keeping what I have.
There's nothing wrong with trying to safeguard what you've worked hard for over many years.

Millions will lose because of the greed and stupidity of others, but those who saved didn't cause the problem just like many others who will suffer even more didn't cause it either.

brianrhill

Susievintage wrote: »

My pension contributions ensure that fund managers and my own IFA get a new Mercedes at least once a year

Unlikely that one person's pension contributions ensures 2 people get brand new Mercs once a year don't you think.

Susievintage

dunstonh wrote: »

If you study via further/higher education and get a better job then maybe you can too. Not a fan of mercs personally.

Well, that's put me in my place with my Oxbridge Masters degree and my company directorship - must try harder.

And I can't remember who said it, but indeed I am not asking for more - I am asking simply to maintain and be able to enjoy what I have worked for. instead, I spend precious time moving money around to get slightly better (or slightly less awful) returns, looking for an IFA with my interests (at least partly) at heart.

I am not a huge risk-taker, or even that interested in great returns. I just want to work hard, save hard, and know that that money will retain its value and be there when I need it. And no, I've never counted on a state pension pot - surely you don't either? I've put money into a personal pension since I was 21, and again that's losing value. It just all seems a bit grim and unfair.

gadgetmind

snowqueen555 wrote: »

the state doesn't even have a pension "pot", its all financed off current taxes, pretty grim isn't it

No, it's financed via unsustainable government borrowing!

gadgetmind

Susievintage wrote: »

looking for an IFA with my interests (at least partly) at heart.

You're wasting your time, I'm afraid.

I've put money into a personal pension since I was 21, and again that's losing value.

What is your asset allocation like?

gadgetmind

brianrhill wrote: »

Unlikely that one person's pension contributions ensures 2 people get brand new Mercs once a year don't you think.

They have more than one cow to milk.

brianrhill

gadgetmind wrote: »

You're wasting your time, I'm afraid.



What is your asset allocation like?

That's pretty offensive, gadgetmind, to professionals like myself.

Why would you want to explore someone's asset allocation before determining their attitude to risk? Classic amateur mistake.

Susievintage

Look, everyone: it's all getting a bit nasty on here. I just wanted to express a bit of frustration, but - as someone pointed out - I should be grateful that I'm not on the streets, in debt, whatever. So if I've worked hard for 25 years with another 20 to go, and at the end of it I'm living in a cardboard box, what's to be done? You're born when you're born, and there's no point wishing I'd been part of the generation that's currently living well on their pensions, just because they're the last that will ever do so.

As for IFAs, as that seems to be upsetting a few people: my own IFA is a lovely chap. It's just that never once has he said: "Look, I'm sorry that my advice hasn't been so hot recently. Let's see what we can do to improve your situation that doesn't involve you paying yet more money into yet more schemes - I'll move some existing money around and make it better for you, albeit it won't make me any commission this time round."

Meeper

Then maybe you should find a different adviser. I'll assume he is taking some kind of annual trail commission from your contracts, therefore any such changes should be covered under those payments which he is receiving. Isn't he doing anything for his commission? If not, light a fire under him or get a new adviser.

gadgetmind

brianrhill wrote: »

That's pretty offensive, gadgetmind, to professionals like myself.

I'm afraid that the investment industry hasn't done itself any favours over the years, and I'm a little battle-scared myself, however I am more than happy to apologise to any IFA who has never sold an investment product on a commission basis.

Why would you want to explore someone's asset allocation before determining their attitude to risk?

I asked the question because I'm interested in the answer. As for attitude to risk, susievintage has already given us a lot to work on in this regard, and no, I don't put any trust in the simplistic questionnaires that IFAs use to judge attitude to risk.

Classic amateur mistake.

That's pretty offensive to amateurs such as myself.