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My pension pot has lost £5,000 in 12 months

2

Comments

  • robatwork
    robatwork Posts: 7,304 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Is it Henry the mild mannered janitor?  Could be.
  • quirkydeptless
    quirkydeptless Posts: 1,225 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    Flomackjimbo said:
    Hi, I have been informed that my pension pot, which I was hoping to take when I retire a 66 in January.
    Has lost £5,000 in value.Can this be correct?


    My DC Pension pot has lost £5500 in less time than that!

    Retired 1st July 2021.
    This is not investment advice.
    Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."
  • london.cidade
    london.cidade Posts: 147 Forumite
    Eighth Anniversary 100 Posts
    edited 1 November 2020 at 10:52PM
    a bad year for the world. a bad year for capital markets, for pension pots as well...
  • steampowered
    steampowered Posts: 6,176 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    You should be assessing what has happened to your pension pot over the last 10, 20, 30, 40 years. Not just over the past year.

    Unless you are planning to draw all of your pension immediately (bad idea ...) it will remain invested for some time yet so plenty of time to recover.
  • dunstonh
    dunstonh Posts: 120,259 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    london.cidade said:
    a bad year for the world. a bad year for capital markets, for pension pots as well...
    As it stands, it hasn't actually been that bad at all.   There have been worse years in the last 20.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • macman
    macman Posts: 53,129 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    steampowered said:
    You should be assessing what has happened to your pension pot over the last 10, 20, 30, 40 years. Not just over the past year.

    Unless you are planning to draw all of your pension immediately (bad idea ...) it will remain invested for some time yet so plenty of time to recover.
    Unfortunately for the OP, they were planning to retire in January...
    No free lunch, and no free laptop ;)
  • steampowered
    steampowered Posts: 6,176 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    macman said:
    Unfortunately for the OP, they were planning to retire in January...
    Yes but a pension pot needs to last for your entire retirement which could be decades. Unless you are buying an annuity, you don't cash it all in when you retire.
  • tony4147
    tony4147 Posts: 348 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Stubod said:
    ....I wish mine had only lost 5k!!
    Snap a £5k loss I would be happy with, I’m down £20k on a £315k pot, was down £50k at the start of this covid, but just have to stick with it
  • ratechaser
    ratechaser Posts: 1,674 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    My pot has grown by about 12k in the last 14 months. Is that a good or a bad thing?

    (yes, tongue in cheek, not expecting any serious replies!)
  • dunstonh
    dunstonh Posts: 120,259 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    macman said:
    steampowered said:
    You should be assessing what has happened to your pension pot over the last 10, 20, 30, 40 years. Not just over the past year.

    Unless you are planning to draw all of your pension immediately (bad idea ...) it will remain invested for some time yet so plenty of time to recover.
    Unfortunately for the OP, they were planning to retire in January...
    They cant be that bothered as they have made no effort provide more info or engage in the thread they started.  Ignorance is bliss.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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