SIPPS - Not for people like me who like watching paint dry !

enthusiasticsaver

Also HL are really really expensive.

Malthusian

You deserve credit for your honesty and courage for being open about your mistakes. A lot of people in your situation would spend the next few years ranting on Guardian or Telegraph blogs about how the stockmarket is rigged and it's all a conspiracy against the ordinary joe. I imagine this thread will be linked to quite a few times over the years when someone is posting about gambling on short-term share movements and someone wants a cautionary tale to illustrate why they shouldn't.

Apropos Eric's post, your paint drying analogy is not quite right. You don't need to like watching paint dry to invest. Wanting to watch the paint dry is the last thing you should be doing, you should go off and do something else and leave the paint to dry in peace. If someone decided to sit down and watch the paint dry it's not surprising that boredom would drive them to start second-guessing themselves and decide that actually they should have used a slightly different colour or there's a bit that needs doing over - repeat this process a few more times and they've spent five times as much as they needed to on paint and have a ruined mess of a wall.

Malthusian

enthusiasticsaver wrote: »

It looks like you were not doing too badly until 2010 and then it went horribly wrong.

I haven't looked at the full range of data too closely but 2009 was awful for him. An investment in July 2009 should have been up around 25% at the end of the year but he was practically back where he started.

atush

Justanitgeek wrote: »

33k invested in Vanguard UK equity income in July 2009 would be worth around 70k today, even after SIPP provider charges.

And sometimes watching paint dry pays off

AnotherJoe

Did I see this post in Motley Fool boards perhaps 6 month ago? If not, since I recall it clearly,, I hope I can suddenly get an idea of shares prices in 6 months time.

jerrysimon

If you are approaching 55 say three years off I think just paying in as much as you can getting tax relief and keeping it as a purely cash SIPP is a sure bet. Did this last year for my wife and wish I had done it a couple of years ago. I would have probably made about 6.5K over three years investing her salary of 8.8K each year with the tax refund.

Jerry

AnotherJoe

Here we go .... from June.
http://boards.fool.co.uk/the-end-is-nigh-13383301.aspx

Thrugelmir

ukpoker wrote: »

I've made the post to highlight that UNLESS you like watching paint dry then investing in SIPPS should be avoided.

Nothing to do with SIPPS. You thought that you could make a million and went gambling.

Read the fable of the Hare and the Tortoise. Could never be more truer.

FrankRizzo

Thanks ukpoker for posting this and sorry it didn't work out as you hoped. Not knowledgable enough on the subject to comment but has got me thinking.

Thrugelmir

FrankRizzo wrote: »

Thanks ukpoker for posting this and sorry it didn't work out as you hoped. Not knowledgable enough on the subject to comment but has got me thinking.

The answer is the OP users name I suspect..........