SIPP for the risk adverse

Thrugelmir

MatthewAinsworth wrote: »

Thrug - indeed they are winding it down, slowly, yellen said it'd be like watching paint dry. I'm glad they're doing it now before we get into too much of a printing culture

Yellen used the word hopefull when making the statement. No one actually knows what the outcome of events will be. Actions taken by the US will influence events elsewhere too.

dunstonh

Sipps and Risk averse dont go well- in general Sipps are for experienced investors who tend to not be risk averse.

I did think that as well. Doesnt like risks but is using a SIPP with £50k FSCS protection compared to PPP with 100% FSCS protection. SIPP using more advanced options when the person is clearly not suited to more advanced options.

Knowledge and understanding is the thing missing here. Decision making made on whims and bad understanding is not going to provide the best outcome.

System

Dunston - I didn't realise sipps only had 50k fscs protection, thanks for that will diversify across platforms come the time. I presume that's for all monies held with that provider including ISA?

I think sipps to be honest give options that nobody should ever sanely use, something simple in a sipp is only a waste if it could've been done cheaper, I don't think the wrapper itself need be that expensive, and a simple pension might not give you precisely what you want, or lifestyle the way you want to