Sipp

Carolinemjs

AnotherJoe wrote: »

And what happens if in 5 years your investment is now worth £1k.

Would you be sanguine about it?

Yes, but I wouldn't just leave it for 5 years without keeping an eye on what was happening and trying to take remedial action.
I can't change my age or significantly how much money I have, I just want to do the best I can with what I've got. As I said previously I'm prepared to take some risk.

Alexland

Carolinemjs wrote: »

Yes, but I wouldn't just leave it for 5 years without keeping an eye on what was happening and trying to take remedial action.

What action would you take if the markets began to decline dramatically and the 24 hour news was telling you that this could be the biggest financial crisis ever? Sell low? Often it's best to take no action (or buy more) but that's hard unless you have confidence in the suitability and long term likely outcome of your investments.

If you are only looking to invest for 5+ years then something like Vanguard LifeStrategy 60 might be appropriate. HL Portfolio+ Adventurous Growth is intended for people with 10+ year timescales. Even then I would prefer to be in the discounted Blackrock Consensus 85.

Alex

Carolinemjs

Thank you Alex for your advice.

When I say that I would hold the investment for 5+ years I'm considering my age and potential lifespan. I think at 68 another 5 years should be achievable but with luck and good health, and family background it could be another 25 years:)
If there was a dramatic decline in the market, as I clearly don't have much confidence or knowledge, I expect I'd be on this forum trying to work out what to do!
Had it not been for the patient advice from people on this forum I would never have heard of SIPPs.

[Deleted User]

Looking at your investment timeframe, I would rather go with Lifetime Strategy 40%, better to be on a safe side.