Retirement money

Woolly Blue · April 14, 2016

I have shares in grandoldteam.com, so may be working for quite some time yet.

Zatara · April 14, 2016

Garrick said:
(Disclaimer: This is for Yanks only. Sorry lads.)

I just transferred my retirement fund to Wealthfront. They're a tech company that manages your funds via computer algorithm, so you get a much lower management fee and there are eyes on it 24/7. It automates things like tax loss harvesting and diversification via dividends.

This is good for me, because I didn't want to take the time or money to manage mine properly, so it's a real nice peace of mind to know the robots are taking care of it. Considering investment is kind of a weird thing anyway (studies are out there showing that index funds are actually the best long term investment? lol.) and is basically like playing the lottery, I'm really happy with it and don't think I need the human touch.

When you start there's a short survey to figure out what your risk tolerance is on a 10 point scale. Since I'm 25 year old precious flower, my risk tolerance is ratcheted up to 10/10, so I have things like emerging market stocks in my portfolio. Something I would've never figured out on my own. Presumably, if you're closer to retirement and are at a 2/10 or 1/10 you'll get things like treasury bonds and blue chip stocks.

If you're interested send me a PM and I can get you a referral link that will up both of our fee-free management amounts by $5,000.

(Legal bits: They're an SEC licensed investment broker and are insured by the SIPC for up $500k/account. Since letting the machines take control of your cash is a little weird thought I'd add that in. http://wealthfront.com)

Thats called a 'robo advisor'. Alot of older people prefer 1-1 attention but the more younger generation like the robo advisory element where you can play around with your own portfolio.

SerenityNigh · April 14, 2016

Garrick said:
(Disclaimer: This is for Yanks only. Sorry lads.)

I just transferred my retirement fund to Wealthfront. They're a tech company that manages your funds via computer algorithm, so you get a much lower management fee and there are eyes on it 24/7. It automates things like tax loss harvesting and diversification via dividends.

This is good for me, because I didn't want to take the time or money to manage mine properly, so it's a real nice peace of mind to know the robots are taking care of it. Considering investment is kind of a weird thing anyway (studies are out there showing that index funds are actually the best long term investment? lol.) and is basically like playing the lottery, I'm really happy with it and don't think I need the human touch.

When you start there's a short survey to figure out what your risk tolerance is on a 10 point scale. Since I'm 25 year old precious flower, my risk tolerance is ratcheted up to 10/10, so I have things like emerging market stocks in my portfolio. Something I would've never figured out on my own. Presumably, if you're closer to retirement and are at a 2/10 or 1/10 you'll get things like treasury bonds and blue chip stocks.

If you're interested send me a PM and I can get you a referral link that will up both of our fee-free management amounts by $5,000.

(Legal bits: They're an SEC licensed investment broker and are insured by the SIPC for up $500k/account. Since letting the machines take control of your cash is a little weird thought I'd add that in. http://wealthfront.com)

Seems like you could just use a low cost index fund like those Vanguard sell. $VFINX

Huyton Layne · April 14, 2016

No pension. Staying at home with the kids so no chance of one starting soon.in my mid thirties so I'm either gonna come up with a great scheme to make money pretty soon or just stick with my default plan to start killing and robbing drug dealers in my mid fifties.

Elong · April 14, 2016

ianefc said:
My plan is to be mortgage free as soon as possible, by 40 hopefully (9 years) then pay larger chunks of my salary into the private pension at work which currently is taking 2.5% of my wage per month then my employers put a further 5% in.

See how it goes.

Similar idea here. I'm the same age as you, I thought you were about 12.

Elong · April 14, 2016

Or better yet, I'll rob the Nakatomi Plaza, blow the roof, they'll spend a month sifting through rubble, and by the time they figure out what went wrong, we'll be sitting on a beach, earning twenty percent.

billybinghamsboy · April 14, 2016

Bruce Wayne said:
Really don't think there will be a state pension by the time I retire (~30 years at current retirement age).

There is a common misconception especially in Australia that soon (vague future) all retirees will be self funded. The fly in the ointment with this is to be self funded you need to have had a well enough paid job to pay into a super fund or even a job. Unemployment is rising substantially in the over 50's bracket worldwide, the time when most people "plan" to pump money into a retirement fund. State pensions are inevitable because long term unemployed/disabled/carers etc will never have the income to build up a fund. Saying that the pension will probably be crap.

Tramps_mate · April 14, 2016

I'm planning on winning the lottery...

Or living off income from rental properties.

Tramps_mate · April 14, 2016

Layne said:
No pension. Staying at home with the kids so no chance of one starting soon.in my mid thirties so I'm either gonna come up with a great scheme to make money pretty soon or just stick with my default plan to start killing and robbing drug dealers in my mid fifties.

Make sure the kids get ace jobs then live with them!!!

Sapie88 · April 14, 2016

I plan on dying on my 30th birthday so it's not even a consideration for me.

ianefc · April 14, 2016

Elong said:
Similar idea here. I'm the same age as you, I thought you were about 12.

Behave.

evertoniandy · April 14, 2016

Pienaar's gloves said:
So if anyone knows of any jobs going for graduates that mean I won't starve when I'm 70, give me a shout.

Cheers.

Financial contracting. It's a cutthroat industry but provided you're not a puddle drinker, you should be sound.

orly · April 14, 2016

Groucho said:
As if I'm ever gonna be able to retire....

Yeah, reckon that's the same for me.

orly · April 14, 2016

evertoniandy said:
Financial contracting. It's a cutthroat industry but provided you're not a puddle drinker, you should be sound.

£450 a day for a two year Business Analyst. Scales well after that too.

big bobs beard · April 14, 2016

Luckily in the teachers pension scheme - though that is getting robbed by the government , and I expect much further grabbing of it once academies are full place, union power non- existent and no alternative political opposition to stop them. And before anyone gets on their high horse about about why you should subsidise teachers pensions- you don't - we pay it ourselves and the fund is currently over 2 billion pounds in surplus, ie more paid in than taken out. Unfortunately most of us pop our clogs within a couple of years of retirement!! ( don't believe all you read in the daily fail about 'gold plated public sector pensions!' Had hoped to retire at 55 but difference between then and 60 is staggering so will soldier on and be the old duffer that no kid wants to be taught by!!