mossdog Posted January 17, 2018 Share Posted January 17, 2018 Yep, crashing hard right now. I've lost almost 50% of my crypto portfolio in the last week or so. Don't know if you've heard anything mossdog? Seems a lot of it is down to the recent news out of Korea. On a positive note; if you're thinking of getting in to crypto, now could very well be the ideal time. Totally counter-intuitive I know, just when the thing is crashing down, that's perhaps the best time to put more in (but do so at your own risk). I'm strongly inclined to do a lot of statistical technical analysis of the crypto market. Try to identify trends and best time to buy (and sell), and what kind of coin is statistically likely to do well etc. ......I tend to think of it as a bear trap! the new boys pile into a new trend even borrowing money to back a cert from the tipsters,then the old boys pull their money off the table causing fear, the new boys sell out if anything left,and then the old boys buy back in at the bottom and off we go again!..........bit like the stock market really! Link to comment Share on other sites More sharing options...
blackydog Posted January 17, 2018 Author Share Posted January 17, 2018 Just popped back in and seen all the replies thanks everyone. Link to comment Share on other sites More sharing options...
phil752 Posted January 17, 2018 Share Posted January 17, 2018 good old premium bonds if you feel lucky Link to comment Share on other sites More sharing options...
blackydog Posted January 17, 2018 Author Share Posted January 17, 2018 good old premium bonds if you feel lucky Nah only equivalent to bank interest rates unless you get really lucky. ---------- Post added 17-01-2018 at 17:19 ---------- I was assumimg that he wanted it to provide a retirement income now, but not via an annuity. Blackydog. You really need some decent advice about this. If you take all of your pension pot in cash to invest elsewhere, you might well lose a huge chunk in income tax. There are ways to avoid this, but you'd be best talking to a professional. After that, you need a reasonably low risk investment. Cyclone is on the money, a well diversified share portfolio is probably the safest way to generate a decent yield. Again, proper advice would be a good idea (says the man with an entirely self-invested portfolio:)). I am in contact with 3 IFAs. They don't charge for initial advice. I'm at a stage now where i know almost as much as them. Link to comment Share on other sites More sharing options...
phil752 Posted January 17, 2018 Share Posted January 17, 2018 Nah only equivalent to bank interest rates unless you get really lucky. ---------- Post added 17-01-2018 at 17:19 ---------- I am in contact with 3 IFAs. They don't charge for initial advice. I'm at a stage now where i know almost as much as them. well from sept got 25,50, 1000 and 25 in Jan on 25000, so I guess I'm beating the banks, but as you say it is the luck of the draw. Link to comment Share on other sites More sharing options...
mossdog Posted January 17, 2018 Share Posted January 17, 2018 well from sept got 25,50, 1000 and 25 in Jan on 25000, so I guess I'm beating the banks, but as you say it is the luck of the draw.......bloody hell! We have the maximum and have received peanuts in that time!.......do you have a relation that works there? Interestingly I would like to know how Ernie works.I suspect it is not totally random but programmed in a very explicit way to keep as many on board as possible! Link to comment Share on other sites More sharing options...
cgksheff Posted January 17, 2018 Share Posted January 17, 2018 What have you against a drawdown? Link to comment Share on other sites More sharing options...
blackydog Posted January 18, 2018 Author Share Posted January 18, 2018 What have you against a drawdown? DB scheme that's closing. I have nothing against it and would probably choose that option if available. Link to comment Share on other sites More sharing options...
cgksheff Posted January 18, 2018 Share Posted January 18, 2018 (edited) DB scheme that's closing. I have nothing against it and would probably choose that option if available. There are several schemes that put your funds into investments and allow your pot to grow whilst you drawdown. Because you would be transferring into a pension vehicle, you would avoid the tax payable if you take your DB pot as cash. Most of the large insurers offer such facilities. PruFund Flexible Retirement Plan is one. They can only be accessed via an IFA. There is nothing to stop you transferring a DB pot, but the regulations require the IFA to have DB certification and not all have this. The information that the regulations require them to get from the DB fund can be like pulling hens teeth. You may end up becoming an "insistent client" and having to instruct the IFA to go ahead after signing a disclaimer. Edited January 18, 2018 by cgksheff Link to comment Share on other sites More sharing options...
blackydog Posted January 18, 2018 Author Share Posted January 18, 2018 There are several schemes that put your funds into investments and allow your pot to grow whilst you drawdown. Because you would be transferring into a pension vehicle, you would avoid the tax payable if you take your DB pot as cash. Most of the large insurers offer such facilities. PruFund Flexible Retirement Plan is one. They can only be accessed via an IFA. There is nothing to stop you transferring a DB pot, but the regulations require the IFA to have DB certification and not all have this. The information that the regulations require them to get from the DB fund can be like pulling hens teeth. You may end up becoming an "insistent client" and having to instruct the IFA to go ahead after signing a disclaimer. Yes agree. Thanks Link to comment Share on other sites More sharing options...
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