Can banks be trusted with a pension fund?

Freiheit

Hi I'm 35 and wondering if it's a good idea to lock money in a pension fund for 25 or 30 year? and can firms, in particular banks be trusted with money? I've a lump sum, that I will loose quite a bit of in tax, if I don't put it into a pension. But 25/30 years ahead seems very theoretical, will I be alive and if so in what circumstances? and can the banks be trusted to look after money term, assuming I go through a bank?
Kind regards
K

khards

No, quite simply the bank of government will steal your money either outright or by inflation.

I would only hold a proportion (say 30%) of your retirement fund in a pension, 20% in cash and 25% in physical Gold, 10% Physical Silver and 15% in an Oil Tracker Fund.

Pension find managers, banks and the government will tell you not to buy gold and silver. the reasons for this is they have vested interests against you and want to steal your money.

Pension fund managers - They earn a living my stealing a chunk of your retirement fund
Banks - also earn money from manipulating stock and shares that your pension fund is invested in.
Government - The biggest thieves of all. The will steal via tax and inflation, if you are really unlucky then they will means test you against your pension when you get to retirement and it would have been pointless saving. government can't tax Gold, Silver, Antiques, Stamps, Collectibles, Classic cars etc - take your pick.

Keep you money out of the tax mans reach and out of reach of the bankers.

Another thing, Property is also very easy to tax, so don't go there either.

coylemj

khards wrote: »

No, quite simply the bank of government will steal your money either outright or by inflation.

I would only hold a proportion (say 30%) of your retirement fund in a pension, 20% in cash and 25% in physical Gold, 10% Physical Silver and 15% in an Oil Tracker Fund.

You're worried about inflation so you keep 20% of your retirement fund under the mattress in cash, clearly you are an expert in financial investments!

khards

coylemj wrote: »

You're worried about inflation so you keep 20% of your retirement fund under the mattress in cash, clearly you are an expert in financial investments!

Who said about putting it under the matress?

Where is the inflation?

Who is the idiot expert now?

You have no crystal ball either, probably loaded to the gills with illiquid depreciating assets.

khards

coylemj wrote: »

You're worried about inflation so you keep 20% of your retirement fund under the mattress in cash, clearly you are an expert in financial investments!

What you fail to realize is that things can go either way and the strategy I suggested can deal with either of those.

Anyhow I would keep the cash somewhere that bears inflation beating interest rates like ZOPA.

khards

One more, putting it into a pension fund who will just put it into ponzi stock market is asking for trouble - what are the predicted annual returns on the fund? 7%.

Whatever you do do not let the banks or pension fund managers talki you into 'investing' with them, they will steal your money. It'a not the 1980's any more the world has changed.

The pension managers and government will tell that you will get a nice tax break, but in reality they will take their commission then tax your income from the pension.
It's better to take the income tax hit upfront then let your investment work rather than paying tax on the outcome of your investment.

When **** hits the fan again, you don't want anything the government can steal.

Pablo Sanchez

khards wrote: »

Pension fund managers - They earn a living my stealing a chunk of your retirement fund

They earn their money by managing other peoples money in the hope of providing a return. Not everyone is financially savy as you clearly are and may not have the expertise or time to per sue a personalised investment strategy.

Jim2007

khards wrote: »

I would only hold a proportion (say 30%) of your retirement fund in a pension, 20% in cash and 25% in physical Gold, 10% Physical Silver and 15% in an Oil Tracker Fund..

Buying assets who's value is based on fear and greed - good idea, not! Taking on a certain government who have started pumping gold into the market - another good one, not!

khards

Jim2007 wrote: »

Buying assets who's value is based on fear and greed - good idea, not! Taking on a certain government who have started pumping gold into the market - another good one, not!

you are obiousely unable to do your own research so go and put all your money into property and a pension :rolleyes:

Jim2007

khards wrote: »

you are obiousely unable to do your own research so go and put all your money into property and a pension :rolleyes:

Did I say anything about putting money into property or a pension fund?

And I'm very well able to do my own research, which is why I live in a country where gains from investing are tax exempt, my employer is required to contribute 11% pa to my pension fund! Pension funds are required to make guaranteed returns or funds managers are required make up the difference and so one.

But here is a tip for you: spouting twaddle put out by fringe players such as gold bugs, anti-fiat currency nuts and so on does not count as research!

And oh yea, one last thing I never have more than about 5% of my portfolio in property, 'cause that is just plain dumb!

hmmm

khards wrote: »

you are obiousely unable to do your own research so go and put all your money into property and a pension :rolleyes:

If instead he had put his money into gold at the beginning of 2013, how much would he have made? World stock markets are up about 10%, so I'm guessing it's more than that right?