cashing in a pension for shares

tripletmammy

Please can anyone give me a bit of advice as i am really clueless.

I have just found out my husband has cashed in his pension to buy shares he has told me lots of people do this but something tells me this is a dangerous thing to do sounds a bit like gambling to me. What do you guys think.?

jem16

tripletmammy wrote: »

I have just found out my husband has cashed in his pension to buy shares he has told me lots of people do this but something tells me this is a dangerous thing to do sounds a bit like gambling to me. What do you guys think.?

It's illegal to cash in a pension before age 55. What age is he?

Lokolo

And what do you mean "cashing in". You don't have to "cash in" a pension to buy shares. A pension is a wrapper, you can buy shares in certain pensions!

daviecol

I suspect your husband has moved his pension from a provider who has been performing poorly and put it with another provider who has invested it into shares to hopefully make more money for him.

I did this a few years ago and I've done very well so far, however there are risks obviously share prices go down as well as up. This was explained to me before I committed however I was only 40 when I did this and decided I was willing to take the risk for a few years to see if I could make a decent return before returning at least some of my pension pot to a less risky investment.

Maybe your husband feels the same?