My annual pension statement came through last week and it was 20% less than the valuation I requested in JanuaryNot a good day for markets today after a rally that looked too good to be true and probably will turn out to be.
Dow Jones down 6% plus today on renewed economy/2nd wave fears.
UK and Europe down 4/5%
They have had a good run though and were almost at levels which indicated a slight blip rather than a full on economic disaster which this will be, at least in the short term.
Be interesting to see what then next week or so brings.
My annual pension statement came through last week and it was 20% less than the valuation I requested in January
Meanwhile my second policy which is mainly a property fund, the trading has been suspended as Aviva tell me at the moment there is no accurate way of true valuation!
Still with Aviva. I was hoping to have enough in the pots to retire in five years when I'm 62Is this a transferred out pension or still with the administrators?
I took early retirement last summer. My pension took a hit in February and March, and I was avoiding looking at it after that. I took the view that everyone would suffer in the economic downturn, and I resigned myself to some significant losses, like everyone else. If it meant going to work again to earn whilst my pension recovered, then so be it.
Imagine my relief when I logged back in a couple of weeks ago to find almost total recovery. It bottomed at just over 10% loss, and is now at about 2% down. My fund administrator is my new superhero.
so whats the smart thing to do? sell sell sell and wait for it to bottom out and re-buy? or sit and hope? Does anyone have a clue whats going to happen short term never mind long term?
I bought shares in Qantas last week.Would take some balls to invest in any airline company at the minute, you’ve no idea which ones will still be around next week
The short term is a tough one to call. This week’s pull back was no great surprise. The NASDAQ hit it all time high this week which doesn’t make sense if you look where the economy is. The reason it’s up there is because the FED is printing money and they have zero interest rates, so once the worries of COVID pass the markets will rocket in my opinion.
So on one hand you have people wanting to get in early before that rally begins.There could literally be positive news about a vaccine next week and that would set them off.
On the other hand people are twitchy about a second wave so there could just as easy be a panic and people start to dump everything.
Personality I’m about 80% in with 20% cash. I’m not planning on needing the money any time soon so if it does drop I’ll buy on the dips and use that cash.
My advice would be to not shit your pants and sell everything if it drops back, or if it starts to rally not worry about missing out and jump in quick. It’s easy and in our nature want to sell when it drops and buy when it starts to rally, but that’s the opposite of what you should be doing. If you’re in for the long term you’ll be fine and sat on nice profits next year due to all the extra cash swilling around.
The short term is a tough one to call. This week’s pull back was no great surprise. The NASDAQ hit it all time high this week which doesn’t make sense if you look where the economy is. The reason it’s up there is because the FED is printing money and they have zero interest rates, so once the worries of COVID pass the markets will rocket in my opinion.
So on one hand you have people wanting to get in early before that rally begins.There could literally be positive news about a vaccine next week and that would set them off.
On the other hand people are twitchy about a second wave so there could just as easy be a panic and people start to dump everything.
Personality I’m about 80% in with 20% cash. I’m not planning on needing the money any time soon so if it does drop I’ll buy on the dips and use that cash.
My advice would be to not shit your pants and sell everything if it drops back, or if it starts to rally not worry about missing out and jump in quick. It’s easy and in our nature want to sell when it drops and buy when it starts to rally, but that’s the opposite of what you should be doing. If you’re in for the long term you’ll be fine and sat on nice profits next year due to all the extra cash swilling around.
The short term is a tough one to call. This week’s pull back was no great surprise. The NASDAQ hit it all time high this week which doesn’t make sense if you look where the economy is. The reason it’s up there is because the FED is printing money and they have zero interest rates, so once the worries of COVID pass the markets will rocket in my opinion.
So on one hand you have people wanting to get in early before that rally begins.There could literally be positive news about a vaccine next week and that would set them off.
On the other hand people are twitchy about a second wave so there could just as easy be a panic and people start to dump everything.
Personality I’m about 80% in with 20% cash. I’m not planning on needing the money any time soon so if it does drop I’ll buy on the dips and use that cash.
My advice would be to not shit your pants and sell everything if it drops back, or if it starts to rally not worry about missing out and jump in quick. It’s easy and in our nature want to sell when it drops and buy when it starts to rally, but that’s the opposite of what you should be doing. If you’re in for the long term you’ll be fine and sat on nice profits next year due to all the extra cash swilling around.