Why do posters here have disproportionately higher than average pension funds...

Thrugelmir

BritishInvestor said:

Thrugelmir said:

BritishInvestor said:

Thrugelmir said:

Albermarle said:

Sailtheworld said:

If the vast majority of people don't beat the markets and dead people are better investors than the living why do people keep tinkering? Probably because the broker who makes £9.95 with every trade has an interest in convincing the punters they all have an edge.

I understand that is how many City type people get rich . Not by investing them selves  but by persuading others to churn their holdings ( or get involved in useless mergers )

City types make recommendations to their clients to buy while offloading the same stock off their books. Remember the Big Short and the global trader at Deutsche Bank in the US who personally became extremely wealthy. 

Films may not always reflect reality

The events are factual. 

The city is a very diverse place so you can't really draw any conclusions from watching a film about one event focusing on one sector.

You obviously have absolutely no idea what I'm referring too. 

Audaxer

Steve_PL_too said:

Steve_PL_too said:

Audaxer said:

Steve_PL_too said:

I saved hard from age 30, and am now comfortably retired - but I have to manage my income now in a way that my wife doesn’t.  You make your choices, and you take the consequences.

Steve_PL_too, that's good that you are now comfortably retired, but do you mean that you and your wife manage your own pension incomes and spending separately from each other?

Yes ... and No.  Joint accounts (in the plural) for common expenditure. Sole accounts for own.  Both ‘badly burnt’ from previous marriages a long, long time ago. Put simply, it works for us.

Steve_PL_too said:

Audaxer said:

Steve_PL_too said:

I saved hard from age 30, and am now comfortably retired - but I have to manage my income now in a way that my wife doesn’t.  You make your choices, and you take the consequences.

Steve_PL_too, that's good that you are now comfortably retired, but do you mean that you and your wife manage your own pension incomes and spending separately from each other?

Yes ... and No.  Joint accounts (in the plural) for common expenditure. Sole accounts for own.  Both ‘badly burnt’ from previous marriages a long, long time ago. Put simply, it works for us.

A better way of putting it would be to say that she gets her DB pension every month - a very adequate amount - whereas I have to manage my DC drawdown pension. I have to make decisions that affect my financial security; she doesn’t have to.  She is rewarded for taking a lot of crap in her job; my retirement is less secure - per se. But, put together, we’re fortunate. And that is a state for which I am very grateful.

That's good. It sounds like your joint retirement income is fairly secure. I'm sure she would support you if your DC pension hit a very poor sequence of returns, and likewise if you DC pension did really well and enabled you to increase your drawdown, I guess you would both benefit.

Prism

doris540 said:

I never said you were parasites its the system it just annoys alot of us in the private sector that our pensions are worth five times less on average .Everything ive contributed to my company pension in last 12 months has been lost due to the markets Public sector ones totally untouched. The public sector say their salaries are lower and the pension is a form of compensation. So if thats the case our wages should be five times more than the public sector wages...................never in a month of sundays . Parasites no , milk the system yes. One example large government dept many staff were claiming first class travel on the train for meetings in London it got to a point that it was cheaper for them to have their own coaches which they do now all kitted out tables the lot and go by road. Friend of mine husband in the FCO all their kids went to private school from day one till they went to uni all their fees paid by the taxpayer and all the travel etc. Can the average man in the street afford to pay Private school fees ...............exactly.. 

I'm thinking that you don't contribute enough then. If a private sector salary paid just 10% more than a public sector salary then you could choose to put all of that into a workplace pension or SIPP. Thats probably all it would take.

And if your pension is still down over the last 12 months then something is wrong. Most are up between 4% - 6%. Some are up over 15%

BritishInvestor

Thrugelmir said:

BritishInvestor said:

Thrugelmir said:

BritishInvestor said:

Thrugelmir said:

Albermarle said:

Sailtheworld said:

If the vast majority of people don't beat the markets and dead people are better investors than the living why do people keep tinkering? Probably because the broker who makes £9.95 with every trade has an interest in convincing the punters they all have an edge.

I understand that is how many City type people get rich . Not by investing them selves  but by persuading others to churn their holdings ( or get involved in useless mergers )

City types make recommendations to their clients to buy while offloading the same stock off their books. Remember the Big Short and the global trader at Deutsche Bank in the US who personally became extremely wealthy. 

Films may not always reflect reality

The events are factual. 

The city is a very diverse place so you can't really draw any conclusions from watching a film about one event focusing on one sector.

You obviously have absolutely no idea what I'm referring too. 

Greg Lippman? I have a reasonable idea as I was working in similar markets at the time. But I've no idea what that would have to do with shares and share trading.

Audaxer

Prism said:

doris540 said:

I never said you were parasites its the system it just annoys alot of us in the private sector that our pensions are worth five times less on average .Everything ive contributed to my company pension in last 12 months has been lost due to the markets Public sector ones totally untouched. The public sector say their salaries are lower and the pension is a form of compensation. So if thats the case our wages should be five times more than the public sector wages...................never in a month of sundays . Parasites no , milk the system yes. One example large government dept many staff were claiming first class travel on the train for meetings in London it got to a point that it was cheaper for them to have their own coaches which they do now all kitted out tables the lot and go by road. Friend of mine husband in the FCO all their kids went to private school from day one till they went to uni all their fees paid by the taxpayer and all the travel etc. Can the average man in the street afford to pay Private school fees ...............exactly.. 

And if your pension is still down over the last 12 months then something is wrong. Most are up between 4% - 6%. Some are up over 15%

They might simply have too much invested in the UK rather than mostly global. My UK equity income funds have suffered more than others, but I'm still hoping they recover to previous levels.

Prism

Audaxer said:

Prism said:

doris540 said:

I never said you were parasites its the system it just annoys alot of us in the private sector that our pensions are worth five times less on average .Everything ive contributed to my company pension in last 12 months has been lost due to the markets Public sector ones totally untouched. The public sector say their salaries are lower and the pension is a form of compensation. So if thats the case our wages should be five times more than the public sector wages...................never in a month of sundays . Parasites no , milk the system yes. One example large government dept many staff were claiming first class travel on the train for meetings in London it got to a point that it was cheaper for them to have their own coaches which they do now all kitted out tables the lot and go by road. Friend of mine husband in the FCO all their kids went to private school from day one till they went to uni all their fees paid by the taxpayer and all the travel etc. Can the average man in the street afford to pay Private school fees ...............exactly.. 

And if your pension is still down over the last 12 months then something is wrong. Most are up between 4% - 6%. Some are up over 15%

They might simply have too much invested in the UK rather than mostly global. My UK equity income funds have suffered more than others, but I'm still hoping they recover to previous levels.

Maybe thats the bit thats wrong. Investing in UK income funds at all. It seems that shares prices nor dividends have held up during this crash.

BritishInvestor

Prism said:

Audaxer said:

Prism said:

doris540 said:

I never said you were parasites its the system it just annoys alot of us in the private sector that our pensions are worth five times less on average .Everything ive contributed to my company pension in last 12 months has been lost due to the markets Public sector ones totally untouched. The public sector say their salaries are lower and the pension is a form of compensation. So if thats the case our wages should be five times more than the public sector wages...................never in a month of sundays . Parasites no , milk the system yes. One example large government dept many staff were claiming first class travel on the train for meetings in London it got to a point that it was cheaper for them to have their own coaches which they do now all kitted out tables the lot and go by road. Friend of mine husband in the FCO all their kids went to private school from day one till they went to uni all their fees paid by the taxpayer and all the travel etc. Can the average man in the street afford to pay Private school fees ...............exactly.. 

And if your pension is still down over the last 12 months then something is wrong. Most are up between 4% - 6%. Some are up over 15%

They might simply have too much invested in the UK rather than mostly global. My UK equity income funds have suffered more than others, but I'm still hoping they recover to previous levels.

Maybe thats the bit thats wrong. Investing in UK income funds at all. It seems that shares prices nor dividends have held up during this crash.

UK Equity income got hit (vs global equities) in the GFC as well
https://www.vanguard.co.uk/documents/adv/literature/total-return-investing.pdf 

jimi_man

Thrugelmir said:

BritishInvestor said:

Thrugelmir said:

Albermarle said:

Sailtheworld said:

If the vast majority of people don't beat the markets and dead people are better investors than the living why do people keep tinkering? Probably because the broker who makes £9.95 with every trade has an interest in convincing the punters they all have an edge.

I understand that is how many City type people get rich . Not by investing them selves  but by persuading others to churn their holdings ( or get involved in useless mergers )

City types make recommendations to their clients to buy while offloading the same stock off their books. Remember the Big Short and the global trader at Deutsche Bank in the US who personally became extremely wealthy. 

Films may not always reflect reality

The events are factual. 

To be fair, it was a drama based upon those events. There is a big difference between that and a factual film. 

coyrls

doris540 said:

I never said you were parasites its the system it just annoys alot of us in the private sector that our pensions are worth five times less on average .Everything ive contributed to my company pension in last 12 months has been lost due to the markets Public sector ones totally untouched. The public sector say their salaries are lower and the pension is a form of compensation. So if thats the case our wages should be five times more than the public sector wages...................never in a month of sundays . Parasites no , milk the system yes. One example large government dept many staff were claiming first class travel on the train for meetings in London it got to a point that it was cheaper for them to have their own coaches which they do now all kitted out tables the lot and go by road. Friend of mine husband in the FCO all their kids went to private school from day one till they went to uni all their fees paid by the taxpayer and all the travel etc. Can the average man in the street afford to pay Private school fees ...............exactly.. 

Given your views, I am constantly amazed by the number of friends you have working in the public sector in such a variety of jobs.

BritishInvestor

Sailtheworld said:

If the vast majority of people don't beat the markets and dead people are better investors than the living why do people keep tinkering? Probably because the broker who makes £9.95 with every trade has an interest in convincing the punters they all have an edge.

1. Greed
2. Inexperience/lack of knowledge
3.  not wanting to accept "average" returns
4. The excitement of buying shares that are rocketing
5. FOMO
5. falling for someone selling the dream
are some of the reasons.