Is it best to keep a pension in cash at the moment. I am over 64 years an on drawdown.
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0complyman postedMost commentators would say to stay in cash during volatile markets. With a recession ahead the market could fall further but if you are already invested it may be too late. However at your age you should have been moving out of riskier areas in preparation for taking a pension.
Drawdown is a very complex product and not suitable for most ordinary investors. Advice is also patchy and difficult to obtain really good quality advice on the subject but worth checking with a decent IFA who is qualified on the subject.
Posted on 22 October 2008 |
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2spanmik posted
Thank you complyman, Both my wif e and I are totally in cash. We are on drawdown but who can trust anyone, now, in the financial world?
Hedge funds seem to be attacking the Insurance industry now. Isn't about time this Labour Government stopped these people who have wrecked the banking industry. I know some in the banking industry have wreaked havoc themselves. When I was in business I had to beg a bank manager to lend me some money. Seems these new managers have somethings to learn.
Regards
Posted on 22 October 2008 | Love 0 loves
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