Market Carnage - strategy (buy/sell?)

jimjames

francoghezzi said:

Never invested in S&S, all I have got is in regular and fixed interested savings, my work pension is totally 'cash': life is too precious and short to spend my nights 

I'm afraid that's crazy unless you're imminently about to retire with annuity. Having cash in a pension for 30-40 years is a guaranteed way to be poor in retirement.

francoghezzi

jimjames said:

francoghezzi said:

Never invested in S&S, all I have got is in regular and fixed interested savings, my work pension is totally 'cash': life is too precious and short to spend my nights 

I'm afraid that's crazy unless you're imminently about to retire with annuity. Having cash in a pension for 30-40 years is a guaranteed way to be poor in retirement.

I can assure you that I'm happy with my retirement plan, plus I sleep so well at night. :-)
One of the secrets? I have been cooking my meals at home for 58 years. All the money I have saved instead of been ripped off in pubs and restaurant as the people in this country normally do will allow me to enjoy my retirement. You'd be amazed on how much money can be saved that way even if your wages are close to the minimum allowed by law.
And I won't be poor anyway, because being rich in life, at least for me, has nothing to do with money

SpeedSouth

francoghezzi said:

jimjames said:

francoghezzi said:

Never invested in S&S, all I have got is in regular and fixed interested savings, my work pension is totally 'cash': life is too precious and short to spend my nights 

I'm afraid that's crazy unless you're imminently about to retire with annuity. Having cash in a pension for 30-40 years is a guaranteed way to be poor in retirement.

I can assure you that I'm happy with my retirement plan, plus I sleep so well at night. :-)
One of the secrets? I have been cooking my meals at home for 58 years. All the money I have saved instead of been ripped off in pubs and restaurant as the people in this country normally do will allow me to enjoy my retirement. You'd be amazed on how much money can be saved that way even if your wages are close to the minimum allowed by law.
And I won't be poor anyway, because being rich in life, at least for me, has nothing to do with money

Chances are if you've been home cooking for 58 years you are into your 60's.

Some people would rather advance retirement by investing to accelerate that age they can retire.

If I had my pension solely sitting in cash for last 10 years it would be worth a few % more than that I'd invested.  Having invested it even with last month or so it stands 40% up on total investment.

Combine that with the fact that same as you don't waste money stuff, means I'll hope to retire before 55.  No way would that be achievable on my salary and only cash interest payments.

I want retire as soon as possible, and money is part of that equation I need.  Whether it be small or amounts or large amounts depending on your lifestyle the goal is surely to make your earned cash work as hard as possible.

BarleyGB

Its just over 3 months since I started this thread, thankfully my portfolio has now fully recovered, it bottomed out about -20% (but the DC Pension, S&S ISA element is mostly invested in North American tech)

With more growth it will hopefully push on to new highs.

I also benefited from some £ cost averaging with my monthly pension investments April and May.

HedgehogRulez

Im just pleased i sold out at the low and bought crypto. To the moon!

BarleyGB

HedgehogRulez said:

Im just pleased i sold out at the low and bought crypto. To the moon!

Sell crypto, buy tulips

https://en.wikipedia.org/wiki/Tulip_mania

Sg28

francoghezzi said:

jimjames said:

francoghezzi said:

Never invested in S&S, all I have got is in regular and fixed interested savings, my work pension is totally 'cash': life is too precious and short to spend my nights 

I'm afraid that's crazy unless you're imminently about to retire with annuity. Having cash in a pension for 30-40 years is a guaranteed way to be poor in retirement.

I can assure you that I'm happy with my retirement plan, plus I sleep so well at night. :-)
One of the secrets? I have been cooking my meals at home for 58 years. All the money I have saved instead of been ripped off in pubs and restaurant as the people in this country normally do will allow me to enjoy my retirement. You'd be amazed on how much money can be saved that way even if your wages are close to the minimum allowed by law.
And I won't be poor anyway, because being rich in life, at least for me, has nothing to do with money

Surely everybody cooks at home? Other than the odd meal out, which certainly wouldnt amount to much of a retirement if you saved the money instead. 

kempiejon

BarleyGB said:

Its just over 3 months since I started this thread, thankfully my portfolio has now fully recovered, it bottomed out about -20% (but the DC Pension, S&S ISA element is mostly invested in North American tech)

With more growth it will hopefully push on to new highs.

I also benefited from some £ cost averaging with my monthly pension investments April and May.

Thanks for coming back and sharing some insight. Have you learnt anything from the experience ready for next time the stock market takes an inevitable downward turn, perhaps deeper and longer next time. Over 3 months your nett position has hardly changed cept for the new money, so mostly NA tech hasn't been that special yet it has been selected over other choices, a focused portfolio can be profitable what inspired the focus there rather than say a market average.

ksgomu

francoghezzi said:

Never invested in S&S, all I have got is in regular and fixed interested savings, my work pension is totally 'cash': life is too precious and short to spend my nights checking on mr Trump and others fools' acts. Yes I missed the bull market, yes am happy there is sunshine out and am heading for a walk. Self inflicted lunacies are not for me. Having said that I wouldn't be tempted to put money in the market just now. As they say: "do not grab a falling knife"

I'm happy this poster is happy, but unless you are about to retire in about 1 months time please NO ONE take this advice. Cash is the only guaranteed way to lose out over time (inflation risk) and there are plenty of long term effective savings/investment options detailed on this forum that will put you in a MUCH better place and be able to retire MUCH earlier than keeping it in cash.

MeteredOut

ksgomu said:

francoghezzi said:

Never invested in S&S, all I have got is in regular and fixed interested savings, my work pension is totally 'cash': life is too precious and short to spend my nights checking on mr Trump and others fools' acts. Yes I missed the bull market, yes am happy there is sunshine out and am heading for a walk. Self inflicted lunacies are not for me. Having said that I wouldn't be tempted to put money in the market just now. As they say: "do not grab a falling knife"

I'm happy this poster is happy, but unless you are about to retire in about 1 months time please NO ONE take this advice. Cash is the only guaranteed way to lose out over time (inflation risk) and there are plenty of long term effective savings/investment options detailed on this forum that will put you in a MUCH better place and be able to retire MUCH earlier than keeping it in cash.

Whilst I agree with your premise that investment is a better long term option, interest on cash has exceeded inflation for a while now, and should not be ruled out as part of an investment strategy, even for those more than 1 month to retirement.

But I would  suggest anyone starting their investment journey now HAS to be in it for the long term, since some major markets are overvalued if you look at them based on traditional valuation methods.

Does that mean I think they're going to crash in the next couple of years? I'd never been silly enough to think I could predict that. Would I be surprised if there was a major correction in the next couple of years? Not really.