Goddamn Capitalists messing with my retirement savings

[Alexander's Horse]

They can't even run their own system. My pension fund is yo yo-ing around. Losses one month, gains the next. This is all fine when you are young but once retirement starts to loom up all that crap about ups and downs evening out is cold comfort. I want to retire in 6 years.

Of course fund managers always win because they pay themselves first. A couple of mathematicians actually won the Nobel prize for proving managers cannot beat the market and add no value.

I'm thinking of moving to cash. At least I know what I put in will be there with interest at the end. I don't like red ink. I know what I need and if I want to get into speculative investment I'll do it myself and not leave it to some snotty Gen Y in a suit with an Ipad stuck in his face. I'm proud to say I've already secured my family's future through my own investments and saving outside of pensions and funds.

And the Greeks can go to hell

Anybody else feel the same way?

[Jaguar]

Moving towards safer assets is common in your situation. Go ahead and do it.

[Kuciwalker]

They can't even run their own system. My pension fund is yo yo-ing around. Losses one month, gains the next. This is all fine when you are young but once retirement starts to loom up all that crap about ups and downs evening out is cold comfort. I want to retire in 6 years.

... that's the entire point of a pension, AH. It insures you against market and mortality risk. Or is your pension a defined-contribution plan?

Of course fund managers always win because they pay themselves first. A couple of mathematicians actually won the Nobel prize for proving managers cannot beat the market and add no value.

No.

I'm thinking of moving to cash. At least I know what I put in will be there with interest at the end. I don't like red ink. I know what I need and if I want to get into speculative investment I'll do it myself and not leave it to some snotty Gen Y in a suit with an Ipad stuck in his face. I'm proud to say I've already secured my family's future through my own investments and saving outside of pensions and funds.

Just buy some damn bonds already.

[Dr Strangelove]

Didn't you see the movie The Pursuit of Happyness? Stock brokers are trained in salesmanship, nothing more. Their sole purpose is to get your money, not help you make money.

[Alexander's Horse]

I shouldn't really complain. I'm in a defined benefit scheme with a big fat pension that I couldn't afford to buy, equal to half my final salary and indexed. But it also has a cash saving element which you can use to buy more pension or take as cash. This part used to have a floor so it never lost money. Now it operates like a mutual fund. I never wanted to be in mutual fund. I hate those things.

Like Strangelove I have no illusions.

[Jaguar]

Your pension fund is also actively managed, probably by some people who have worked for mutual funds in the past.

[Alexander's Horse]

that is what I am saying jaguar, now it is just another tinpot mutual

The main advantage is tax-wise, the money goes in at 15% as opposed to my marginal income tax rate which is 45%, so I put in10% of my income

[Dr Strangelove]

Actually my 401k is doing pretty good. I have the option of choosing the type of funds it's investing in. I chose to put the lion's share in "Emerging Markets", now Putin works for me.

[Alexander's Horse]

very risky, you surprise me

[pchang]

Once the mining and carbon taxes get repealed, I'm sure the government will have no choice but to wipe out those pensions and convert them to defined contribution plans. Gina Rinehart told me so.

[Dr Strangelove]

very risky, you surprise me

The "emerging world" is the only one growing now.

[Alexander's Horse]

you are a braver man than I Gunga Din