A bit of a 'dont be so stupid' thread

[Polarbear]

As you are already bored about me, lets have a bit of ammoral support. I'm retired. Yey, well maybe.

Any clever finance people who can assage my worrys will be appreciated. Blow jobs optional.

I've lost shed loads with the financial crash, most of my savings. That isn't th problem, they 'may' come back and Shell ( my shares) isn't going bust.

But I'm absolutluy shitting myself about my pension. It's private, so are pension companys going to survive. Is the first thing I know about it when I don't get a payment on April 1st?

Is my pension pot safe?

I always thought I was financially savvy but I'm totally fcuking lost now.
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[JackButler]

If you bought an annuity with your pension pot then don't worry about it.

In fact, just don't worry about £money at all for the time being.
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I clean my guns with the tears of the snivelling, left wing scum.

[Polarbear]

[MarJay]

Everyone understands that this is an act of god. One month is not going to cause a problem. Three months won't cause a problem. If it goes longer than that it might be time to worry, but I honestly think that you're OK. Your annuity has been purchased, and they have to pay out. There are financial schemes around which insure against the collapse of pension suppliers.

The issue with pensions is if the annuity itself is purchased at the bottom of a share dip...

A pension adviser I once saw said that pensions are not generally 'risky' but should be thought of in terms of 'volatility' instead. However, as I said, you have an annuity and it'll pay out. If the company paying out on it goes bust, it'll no doubt be insured.
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[Polarbear]

Thank you.

I feel a bit better now. I have to say I was shitting myself.

Wifey said we have a house over our head whatever, others have a terrible future and for once she is talking sense.

Trouble is we are all selfish.
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[JackButler]

[The Shaggy D.A.]

Once Covid has gone through the crumblies, there'll be a bigger buffer in the pension pot with all those it no longer has to pay out to.
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[GSTEEL32]

The chances are, given how close you are, that you don't have exposure to higher risk investments.

Most companies naturally reduce the risk profile within your portfolio, the near it comes to maturity.

Quite aside from alleviating the "panic" you're alluding to here, I suspect its much easier to value your pot if the commodity in question has a "cash" or "near cash" value.

Shares, for example, have a value which includes future cash flows, but currency doesn't (unless there is a significant divergence of interest rates between 2 separate currencies, obviously).

[iooi]

[BTTD]

[JackButler]

[Islander]

[Ste]

[steve the grease]

My old doll pegged it in December , I reckon she's had half a million out of the Gas Board pension AFTER my dad died. She has never contributed 1/2 p to the scheme, receiving half the pension after the death of the person who set it up.
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[Sir Clip]

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[Ribenapigeon]

[Easy-X]

Chatting with my neighbour yesterday (at a safe distance, we kept in our respective front gardens) and I said it's sad that the largest mortality demographic is older people. Be fairer if it was just the stupid - could loose to stand 200 million of them
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[Scotsrick]

A bit late to the party here but you seriously don’t have all your savings tied up in one companies shares do you?

I know shit about shares and stuff which is why I have a financial advisor to look after mine.

The idea of owning shares is to spread the risk and the amount of risk you are willing to accept determines the type of shares you buy.

Putting it into one company is risky. You might choose Apple and get lucky or Compaq and it goes bust.

[weasley]

[Polarbear]

[stinkwheel]

19th of March was a good day to buy platinum.
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[Scotsrick]