SIPP Advice Please - how well is mine doing?

SandLake

This forum is part of the internet and the only qualification is to register in order to post. That means I don't have to have any financial knowledge. Typically I would be trying to gain some financial knowledge or help to gain some knowledge.

I still think it is fair to ask (as per OP) is 7% after fees and charges 'doing OK'? People who work with or study investments would I think be able to say if 7% is above or below par (with impunity).

I myself have 2 pension pots, 1 has increased by 15% pa in the last 5 months and one has stayed flat for 3 months.

7% is better than one and worse than the other

(Assumptions :-
- over different periods,
- no idea of risk levels
- no idea of charges and fees
- other things I have no clue about)

but I can still say 7% is better than one and worse than the other.


Maybe the OP by saying - is 7% after fees and charges 'doing OK'? is wanting an opinion on am I doing OK or should I look to make changes?


I sorta knew I would stir up a nest but all I want to say is sometimes when you can't see the wood for the trees, your swamped with acronyms, figures, rates - it's just nice for someone to say 'That sounds OK' or 'If it was me I would see if I could do better.

dunstonh

I still think it is fair to ask (as per OP) is 7% after fees and charges 'doing OK'?

It is fair to ask but it doesnt mean anything without context. Is that 7% for a whole economic cycle or just the good years when everything else was doing 11% or includes some bad years of losses?

People who work with or study investments would I think be able to say if 7% is above or below par (with impunity).

No they cant. Anyone that does is either playing on the persons lack of knowledge or they dont know the answer to the question.

I sorta knew I would stir up a nest but all I want to say is sometimes when you can't see the wood for the trees, your swamped with acronyms, figures, rates - it's just nice for someone to say 'That sounds OK' or 'If it was me I would see if I could do better.

It hasnt stirred up anything but it does indicate a lack of investment knowledge. lack of knowledge is not a bad thing but if, as the op has, the person uses an advanced investment contract and doesnt understand what they are doing then its only a matter of time before they make a mistake. Mistake with investments usually means losing money.

If the OP had followed up with the context we asked for then the discussion would have developed further as is normal on discussion threads.

BobQ

SandLake wrote: »

I sorta knew I would stir up a nest but all I want to say is sometimes when you can't see the wood for the trees, your swamped with acronyms, figures, rates - it's just nice for someone to say 'That sounds OK' or 'If it was me I would see if I could do better.

Sandlake, I am not an IFA, not a FA and have no background in the financial services industry. I am a six figure investor and I have said before on this forum that I choose not to rely on a an IFA. But it is possible to learn a lot from listening and asking questions, if you are willing to do so.

So you are not stirring up a nest at all, you are just demonstrating your lack of understanding of investing. Many experts post on this forum and provide good general ideas, thoughtful suggestions, reasoned arguments. They do it for free and MSE rules prevent them touting for business or giving specific advice.

If you cannot understand that it is impossible to answer the OPs question without more information about the investments he has made then you really ought not to be making investment decisions in the real world.

kangoora

Well, to give the OP an indication - over the last 6 years my pension pot has grown by 47%, annualised 7.8%, slightly more than their growth. Personally, I'm pretty pleased by this rate of return.

Last year it grew by just under 16%!

However, since April this year I am down 3.6% after taking into account payments since April. I did move into a lot higher defensive portfolio around Feb/March, not a decision made by any science, I just wanted to lose volatility with a few years to go to retirement.

Waiting to see what happens later this year now.

Maybe a good question to your SJP 'friend' is how has their portfolio performed since April this year

Al.

Sandlake,

Go back one.

Have you identified objectives, how much do you want or need your investments to make for you each year? What's your capacity for loss? Get the answers to those and if you're performing out of synch with any one of them, then address it.

But don't address things simply because you have a mate who's in 'x, y or z' fund. NEXT, SJP. Sorry, I hesitate before being so partisan but I wouldn't touch them with a bargepole. Correction. I wouldn't even touch them with someone else's bargepole.