Young Man Needs Help! Pension or another way?

[Deleted User]

Teifi_Swimmer wrote: »

What's happening in your pension?

I don't think you understand what I said.

If the situation is as dire as you say it is, if England is on the verge of financial collapse, if the government is preparing to go crazy with inflation to keep the country afloat a few more months, if the entire financial system is poised to collapse, do you seriously think retirement savings are going to be the peoples priority?

All I have is a GCSE in Maths and I can see the situation is not ideal, however I also learned in school that nothing exists in a vacuum. The entire country is supported by or is connected to the financial system in some way. The houses people live in? Mortgaged. The meals people purchase? Paid for on a credit card. The companies paying peoples salaries? Investment capital.

If things do go to hell I'm not going to miss the £12k (small 'cause I'm only 21) I have in my pension, I'm going to miss being able to buy a loaf of bread. If things go okay, that £12k + future contributions is going to set me up for an enjoyable retirement.

Purchasing a couple of Toblerones of gold is not going to save anyone if the country collapses.

Perelandra

There's a good promotional video, pulled together by the marketing department of Moneyweek, that airs a similar viewpoint to a number of the points that have been made on this thread. If you haven't seen it already, it's here:

http://moneyweek.com/endofbritain/

More interestingly, are the responses to it, for example:

http://coppolacomment.blogspot.co.uk/2013/01/the-end-of-britain-not-yet.html

In particular is a bit more of an analysis on this "hockeystick" shape on the graphs referred to. and demonstrating how these can give an overly pessimistic view of reality. It's very easy to create a "disaster" scenario if only one side of the story is told.


Sure, we're probably looking at harder times ahead, but that's the cards we've been dealt. You need to play those cards, and plan accordingly- and that should mean sensible retirement planning for most.

A considerable part of my retirement funds are based on share holdings. I imagine that if inflation soars, that the nominal earnings of the companies represented by those rise accordingly, and as such the share price will rise in line. It won't be a perfect match for sure, but there will be some link. Many (most) people making planning decisions today are also likely to have such an allocation, so I would suggest that the fears around inflation's impact on pensions is rather less extreme than has been suggested.

atush

Are you boosting your post count so you can post a link to your gold spam?

Hi there. I am probably going to put a few noses out of joint here, but I believe that any money put into a pension is likely to be lost due to inflation.

This is utter tosh. Anything based in GBP/sterling is going to be affected by QE here. And anyting based in USD is going be affected by their QE and so it goes.

Having a hoard of physical gold isn't going to help you if you have no food or water, and the guy next door has a shotgun and takes it off you in a global collapse. So studying up on your survivalist skills and canned goods might be a better idea if you think the sky is falling.

Gold has done nothing but drop lately so those who bought it on yoru advice recently are sitting on a tidy loss.

I hold gold (and silver is usable pieces only) but bought gold just over $600. I might buy again when it gets there again but in the meantime and a seller. Gold does nothing, and earns nothing.

atush

Quote:
Originally Posted by Teifi Swimmer View Post
What's happening in your pension?

My pension is doing quite nicely, thanks for asking.

somethingcorporate

atush wrote: »

My pension is doing quite nicely, thanks for asking.

:T

Mine is having £800 per month added to it and only costing me about £250 in my pocket - seems like a decent return to me!