does anyone here have a pension?

[teppic]

i'm thinking of ING to put my old age(d) mind at ease.

the problem is this damn credit crunch. they got a 20 billion hand outfrom the dutch government back in october but now claim they are sound as a pound again.

does anyone have any advice?

cheers.

 

[Gazdalf]

ING are having major problems still.

They announced yesterday that they will be stopping backing The Renault F1 team in 2010. Things can not be in that good a position for the projected future.

 

[teppic]

i missed this.

BBC SPORT | Motorsport | Formula One | Global crisis hits Renault team

arrrgh!!! any advice better than 'under the bed'?

edit... cheers gaz.

 

[Reidy's Bottle Of Grecian]

gold teeth....emergency bottle of scotch in case you have to yank one out.

 

[Cal]

I've got an NHS pension.

 

[little curly alan ball]

Ive got a couple . One when I worked in Europe , and one from the Royal ( Insurance ) Cant access them though , and I avent got that long in either but its a coupla-bob , as they say .

 

[teppic]

I've got an NHS pension.

what is that? the state pension or do they do private pensions now?

 

[Reidy's Bottle Of Grecian]

he does a birds job for the nhs.

pyramid schemes are good.

 

[Cal]

Yawn.

 

[Reidy's Bottle Of Grecian]

Yawn.

been on the sedatives cal ? thats why he gets furious he's on the same cycle as all the other birds he works with.

 

[Tennessee Blue Mike]

what is that? the state pension or do they do private pensions now?

Teppic on a serious note. What we are hearing all major curriencies could be failing even the US dollar and British pound. We may have as much as 3 or 4 years left on this balancing act. The Euro has nothing backing it up so it is most fiat currency there is. I'm not a doom and gloom guy but check into why most Gold and Silver is being bought up in significant amounts and why the major banks can't suppress these metals much longer like they have in the past. Lehman Brothers when it failed opened up the flood gates and nobody can come to it's aid now especially Goldman Sachs and other big banks across the globe. The more you research it the more it makes sense even my local college economist agrees. When the last haven the dollar goes off the oil standard and the Arabs have their gold backed currency in place inflation will hit like it's never been seen in our lifetimes. We are all in the first 10 minutes of a 90 minute game. Real Estate has started the slide with all these toxic CDO's. The bond bubble in the US is next to burst it's just to frothy when that happens all the industrial nations will feel the ripple effect. Hang on for a bumpy ride.

 

[Bruce Wayne]

Personally I wouldn't trust pensions as far as I could throw them. Demographically our pension systems are doomed for collapse as we don't have enough babies to support the grannies and grandads. The politicians are too weak to raise the retirement age and pensions schemes around the world are essentially bankrupt.

Besides which, by the time we're of pensionable age I dare say we'll be living a darn sight longer and in considerably better health so the notion of retiring will be a quaint one.

 

[Tennessee Blue Mike]

Personally I wouldn't trust pensions as far as I could throw them. Demographically our pension systems are doomed for collapse as we don't have enough babies to support the grannies and grandads. The politicians are too weak to raise the retirement age and pensions schemes around the world are essentially bankrupt.

Besides which, by the time we're of pensionable age I dare say we'll be living a darn sight longer and in considerably better health so the notion of retiring will be a quaint one.

Correct like social security here in the US it's like one big ponzi scheme. Madoff anyone? It's ok when there are many working class people to take money from but as we are all witnessing now if unemployment hits unpresidented highs I'm not counting on it for the long term myself. Perhaps a good idea at the time but over time the time value of money erodes due to inflation.

 

[teppic]

Teppic on a serious note. What we are hearing all major curriencies could be failing even the US dollar and British pound. We may have as much as 3 or 4 years left on this balancing act. The Euro has nothing backing it up so it is most fiat currency there is. I'm not a doom and gloom guy but check into why most Gold and Silver is being bought up in significant amounts and why the major banks can't suppress these metals much longer like they have in the past. Lehman Brothers when it failed opened up the flood gates and nobody can come to it's aid now especially Goldman Sachs and other big banks across the globe. The more you research it the more it makes sense even my local college economist agrees. When the last haven the dollar goes off the oil standard and the Arabs have their gold backed currency in place inflation will hit like it's never been seen in our lifetimes. We are all in the first 10 minutes of a 90 minute game. Real Estate has started the slide with all these toxic CDO's. The bond bubble in the US is next to burst it's just to frothy when that happens all the industrial nations will feel the ripple effect. Hang on for a bumpy ride.

that's a gloomy read! but cheers for the response!

i've opened up a 7 year pension.. nothing too heavy to tie myself down with but something to get the ball rolling.


gold.... is the price too high now to start buying it up???

 

[Tennessee Blue Mike]

that's a gloomy read! but cheers for the response!

i've opened up a 7 year pension.. nothing too heavy to tie myself down with but something to get the ball rolling.


gold.... is the price too high now to start buying it up???

Your doing the right thing starting but just take one day at a time. I didn't mean to sound all doom & gloom but we have been witnessing great miss management of money by prominent firms and banks not knowing what some of these toxic assets are and giving triple a ratings on them.

Gold and silver will never go to zero and should always be a part of your overall investment portfolio. Most managers agree anywere from 5% to 20% depending on the economic climate with currencies around the world. Perhaps right now you might want to look at the high end of metals if you think Inflation will go crazy after all these stimulus packages. I think we are returning to a 1980 type environment myself.