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Pension Funds. How to invest.
colinut
Posts: 11 Forumite
Hi all,
I have a pension plan with my employer. I'm 34 and my pension has a value in the region of 40k. I have the possibility to choose the funds my pension is invested in but don't even know where to start. I've put it all in the UK Index Tracker at the moment but I'm sure there's better more intelligent ways to spread it.
Is anyone aware of somewhere I could get some advice on this? Spoke to an independent financial adviser who was happy to help... for a £300 fee...
I have a pension plan with my employer. I'm 34 and my pension has a value in the region of 40k. I have the possibility to choose the funds my pension is invested in but don't even know where to start. I've put it all in the UK Index Tracker at the moment but I'm sure there's better more intelligent ways to spread it.
Is anyone aware of somewhere I could get some advice on this? Spoke to an independent financial adviser who was happy to help... for a £300 fee...
0
Comments
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I've put it all in the UK Index Tracker at the moment but I'm sure there's better more intelligent ways to spread it.
Yes. That is poor quality investing. You are effectively saying that you think the UK stockmarket is going to be the best place to be. It is also quite risky. For example, a localised event affecting the UK but not the rest of world would hit you much harder than a more diverse selection. Also, it may be within your risk tolerance but twice in the last 15 years you would have seen your value wiped out by 43% in major drops. That is above the typical level of tolerance for an average UK consumer.Is anyone aware of somewhere I could get some advice on this? Spoke to an independent financial adviser who was happy to help... for a £300 fee...
An IFA is where you go to get advice. £300 sounds very reasonable. I would have charged £500 as a minimum.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.0 -
Yes. That is poor quality investing. You are effectively saying that you think the UK stockmarket is going to be the best place to be. It is also quite risky. For example, a localised event affecting the UK but not the rest of world would hit you much harder than a more diverse selection. Also, it may be within your risk tolerance but twice in the last 15 years you would have seen your value wiped out by 43% in major drops. That is above the typical level of tolerance for an average UK consumer.
An IFA is where you go to get advice. £300 sounds very reasonable. I would have charged £500 as a minimum.
And if I could afford you I would pay your asking price ( no doubt more for me as I'm confusing
) cause your advice is very sound and worth it 0
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