Pensions

Live life to the full, play hard, die young and fcuk the pension Clap

colmoc wrote:

Anyone here in the game? Been meaning to start one the past few years but going to sort it this month. Where's the best place to go?
Been looking online but everything I read is a sales pitch so I said I'll see what the Ybig experts say

Anseo.

Go talk to a broker, they're free (the companies pay them) and will set you right about what you need. First thing they have to do is a full financial review to see how your set, then will advise you what is most required, and advise you what company your pension should be through.

But yeah, definitely get one, and put in as much as you can afford. One of the most tax-efficient methods of saving.

i assume you mean a private one? work have to provide you with one, which in most cases will be invested terribly on your behalf. Normally in some type of lifestyle crap. You can however change what your invested in. Most products (both work and private) are poor value for money. Best to do it yourself through a SIP (Self invested pension) type product. In the UK Hargreaves are decent for SIPP's/ ISAs etc..: http://www.hl.co.uk/pensions/sipp

stick it all on red if you are not playing with a lot to start and looking at a 30+ horizon.

Aye well worth doing lad, while I'm luckily in the pensionable Civil Service job, my Mrs isn't as she entered employment in her 30s and wanted to beef up her pension, so we got an advisor out a couple of years back and went with Irish Life and we are happy with what they have to offer, but step one arrange a meeting with a financial advisor, many of them are free anyhow.

We'll never die, we'll never die, we'll keep the Green Flag flying high......Shamrock Rovers will never die, we'll keep the Green Flag Flying high. 19 Leagues and 25 Cups.....

Its one of the most tax-efficient methods of saving and the earlier you start the better. The more you invest now the better in the long run - due to annualized returns and longer investing periods.

As the lads say, go through a broker and get him/her explain the options.

Best bet - go simple and cheap - make sure the annual management/fund charges are below 1%.

They will try and get you to invest in a number of complicated funds as this commands higher fees.

I currently have this for reference:

40% - Passive Europe equity fund (Boring, just tracks the index but cheap)

40% - Passive US equity fund (Same as above)

20% - Active Emerging Markets Equity fund (Aggressive strategy and more expensive, should produce higher returns but no guarantees)

FaIr play lads. Thanks!

Guest wrote:

Weren't pension funds effected when the sh*t hit the fan? I don't have one so not sure on the whole story other than be careful.

Another option....

Shedite wrote:

Guest wrote:

Weren't pension funds effected when the sh*t hit the fan? I don't have one so not sure on the whole story other than be careful.

Yep, very much so. Lot of lads had their lifetime savings very heavily eaten into. The biggest losers would be those within 10 years of retirement, who were invested in high risk products. A good broker shouldn't let that happen.

Even good brokers were caught out in the financial crash. My pension funds almost halved during the crash. Whilst they've come back somewhat, they'll never recover to anywhere near the original projected amounts.

The only reason investing in a pension is of any use, is the tax efficient benefits. When this is taken into account, I'm still just about up on the total amount invested.

If I'd simply stuck the money in a long term bank account I would have earned more, but would have paid more tax.

This post makes a lot of sense, but are these type of products available in Ireland?

londonirish wrote:

i assume you mean a private one? work have to provide you with one, which in most cases will be invested terribly on your behalf. Normally in some type of lifestyle crap. You can however change what your invested in. Most products (both work and private) are poor value for money. Best to do it yourself through a SIP (Self invested pension) type product. In the UK Hargreaves are decent for SIPP's/ ISAs etc..: http://www.hl.co.uk/pensions/sipp

stick it all on red if you are not playing with a lot to start and looking at a 30+ horizon.

Ensuring those that will rent for the rest of ever will have an income to continue to pay it into the twilight years

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AS YOU WERE McGx