Can I use part of my Aegon pension to invest in Bitcoin for my future pension?

ratechaser

barnstar2077 said:

magpie1962 said:

barnstar2077 said:

I don't know if anyone can help me, but here goes.  I really like cheesecakes. I think most people do.  I bought a hundred of them last week because I know the price either goes up or down every Monday at my local supermarket.  I know, I know, it was a bit of a gamble, but it paid off.  The price went up!  I contacted my pension company on Tuesday proper sharpish, because I don't know what the price will be next week obviously, in order to pay them into my account.  They say they won't accept them.  I am furious.  I was on the phone for an hour.  The woman I spoke to even admitted that she buys cheesecakes herself, it is so frustrating.  Can someone advise if I have a case for legal action?

No time wasters please.

What is the point of that??
I just thought there might be a way of using something like Sipps to invest in a particular investment, what is wrong with that?
"cheesecake", what an idiot, if people don;t find you funny in real life they won't on here

If you don't know anything about cheesecakes please leave the replies to others.  I very politely asked for no time wasters. I grow closer to seething by the second.

You win the internet today. Your prize will be a new shiny Bitcoin, as soon as I can find a properly regulated way to get it to you. Or failing that, possibly I could smuggle it in a cheesecake?

I realise this might be slightly OT, so please go easy on the seething.

Thrugelmir

magpie1962 said:

Before we start and I really want to keep this short and to the point, yes I know it's volatile, yes I am mad(though I am not), it's not a real thing, too risky, yes I have heard all the downsides before  and yet done all my own research since 2015 and all I need to know is there a way of doing this.
I am now in my 50's and have a substantial pension pot with Aegon pension and am looking at using a sizable portion of my pot to invest in Bitcoin as part of my pension fund, is there anyway I can do this.

If it's that profitable. Start to liquidate the pension pot as soon as you are able and use the funds to invest in Bitcoin. Outside of the regulated wrapper you'll be fine. 

vulcanrtb

This reminds me of the other bitcoin thread on here somewhere, people do get very wound about the whole thing.

Voyager2002

magpie1962 said:

What is the point of that??
I just thought there might be a way of using something like Sipps to invest in a particular investment, what is wrong with that?
"cheesecake", what an idiot, if people don;t find you funny in real life they won't on here

No need to be rude.

This is a very precise analogy, although cheesecake lacks the volatility and unpredictability of Bitcoin while cheesecake markets are better regulated. This means that losing your entire pension pot by trading in cheesecake would take rather more time and effort.

Have you considered ETFs in silver  chicken manure?

magpie1962

Thrugelmir said:

magpie1962 said:

Before we start and I really want to keep this short and to the point, yes I know it's volatile, yes I am mad(though I am not), it's not a real thing, too risky, yes I have heard all the downsides before  and yet done all my own research since 2015 and all I need to know is there a way of doing this.
I am now in my 50's and have a substantial pension pot with Aegon pension and am looking at using a sizable portion of my pot to invest in Bitcoin as part of my pension fund, is there anyway I can do this.

If it's that profitable. Start to liquidate the pension pot as soon as you are able and use the funds to invest in Bitcoin. Outside of the regulated wrapper you'll be fine. 

Thank you so much for your help and at least a possible route I can take with what I was asking. I know very little about pensions and post very little on MSE's  website I thought had a reputation on giving financial help with those lacking knowledge in certain areas. I have just found a few obnoxious trolls who have tried to tell me everything but what I was asking. I never wanted to hear what I wanted to hear, just was it possible, what did I do so wrong?
I am also using another site that is more helpful and has given a similar answer and suggested I could take 25% out tax free, more than I was wanting, so at the end of the day there was a way.
Somebody also mention Sipps, but looks like that's not needed now given this option.
That really has put me off from coming back here and thanks again for being civil and helping me

Voyager2002

magpie1962 said:

I am also using another site that is more helpful and has given a similar answer and suggested I could take 25% out tax free, more than I was wanting, so at the end of the day there was a way.

That depends on your age.

Thrugelmir

magpie1962 said:

Thrugelmir said:

magpie1962 said:

Before we start and I really want to keep this short and to the point, yes I know it's volatile, yes I am mad(though I am not), it's not a real thing, too risky, yes I have heard all the downsides before  and yet done all my own research since 2015 and all I need to know is there a way of doing this.
I am now in my 50's and have a substantial pension pot with Aegon pension and am looking at using a sizable portion of my pot to invest in Bitcoin as part of my pension fund, is there anyway I can do this.

If it's that profitable. Start to liquidate the pension pot as soon as you are able and use the funds to invest in Bitcoin. Outside of the regulated wrapper you'll be fine. 

 I know very little about pensions and post very little on MSE's  website I thought had a reputation on giving financial help with those lacking knowledge in certain areas. 

The best Xmas present you can give yourself is time. When handling money to invest. Research, research, research. There's no free lunches in this ruthless world. 

barnstar2077

magpie1962 said:

Thrugelmir said:

magpie1962 said:

Before we start and I really want to keep this short and to the point, yes I know it's volatile, yes I am mad(though I am not), it's not a real thing, too risky, yes I have heard all the downsides before  and yet done all my own research since 2015 and all I need to know is there a way of doing this.
I am now in my 50's and have a substantial pension pot with Aegon pension and am looking at using a sizable portion of my pot to invest in Bitcoin as part of my pension fund, is there anyway I can do this.

If it's that profitable. Start to liquidate the pension pot as soon as you are able and use the funds to invest in Bitcoin. Outside of the regulated wrapper you'll be fine. 

Thank you so much for your help and at least a possible route I can take with what I was asking. I know very little about pensions and post very little on MSE's  website I thought had a reputation on giving financial help with those lacking knowledge in certain areas. I have just found a few obnoxious trolls who have tried to tell me everything but what I was asking. I never wanted to hear what I wanted to hear, just was it possible, what did I do so wrong?
I am also using another site that is more helpful and has given a similar answer and suggested I could take 25% out tax free, more than I was wanting, so at the end of the day there was a way.
Somebody also mention Sipps, but looks like that's not needed now given this option.
That really has put me off from coming back here and thanks again for being civil and helping me

People have tried to help you.  They answered your question, and also tried to sort out your existing pension to make it profitable again.  Because it really is very unusual to have lost money in a pension in the last ten years.  You only seem interested in hearing what you want to hear however.  Which is also why you didn't read any sarcasm in Thrugelmir's post I guess.

dunstonh

. I know very little about pensions and post very little on MSE's  website I thought had a reputation on giving financial help with those lacking knowledge in certain areas.

You acknowledge yourself you know little about pension (aka investing).   You say you are losing money.  Yet the last decade has been very strong in growth in all markets.     So, the responses are clearly going to be asking you why you think you are losing money (as it may be you are not - lots of people misread their pension statements).  It may be that you are in the wrong investment funds for you.  You could be in a cash fund linked to interest rates when you should ideally be in a global equity fund (given your risk profile and acceptance of volatility 100% global equity would match that).  

The pension tax wrapper is valuable and very effective but you can blow it if you use the wrong type of investments.

atush

magpie1962 said:

Please people do not get hung up about the name which I  have just corrected by the way, am I able to do this even it means transferring to someone else?

But yet the name means everything here as is it a scam or not?