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Pension mismanagement, advise needed

debrabird · 2020-11-10 18:32:14

This is a very long and complicated story, which has been with the ombudsman since May 2019, I will attempt to sum it up, in a short story, bearing in mind, I have not been given the right advise, all the way along. It starts with a pension sharing order, which was given to a financial advisor, just as my divorce was…

Comments

[Deleted User] Posts: 0 Newbie

3 December 2020 at 1:22PM edited 3 December 2020 at 1:24PM

You need to be invested ASAP. The most damaging thing any of us can do is to go 100% cash. Everything else is secondary. Spending time in the equity market leads to gains over significant periods of time. Find a cheap provider, move all your cash to that provider and buy a simple 60/40 multi-asset fund. Or whatever else you want to do, but don’t just sit in cash. That would be completely the wrong lesson to learn.

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