Your 3 Big Pension Must-Dos for 2024

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This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.

[rufdymond]

This is an incredibly important video - take it from an older person. I could have literally retired years earlier if I would have had this knowledge when I was younger.

My workplace pension spent years sitting in a crappy default fund, when unbeknownst to me I actually had access to thousands of funds on my pension platform, but they needed to be unlocked. It cost me a lot of money in growth, almost 6 figures worth of growth. Being educated to be able to ask the right questions, could literally be life changing.

[larrygerry]

Lesson 1, self learn this and avoid financial advisors

[mentat]

In my experience emailing or phoning them is a waste of time, they don't get back to you. I had to do my research on their site about the different funds and request them to be changed. Leave it to them to get back to you and you'll be waiting a long time. They are often useless.

[ajnr]

find the black rock funds and select them. if you are in your 30s or younger select high risk.

[hachimaru]

Great believer in the cash buffer she always talks about --- Getting that cash buffer is a lifetime task of chipping away and slowly seeing the difference .But the freedom of choice in retirement and saftey net it brings thru the dips and troughs is worth its weight in gold especially when it really hits the fan twice a decade

with the internet pension become understandable and not a mystery. Internet sets you free

[Kaizen]

I asked my pension provider to confirm some details about a fund they listed to have but without much detail. I was 95% sure of it by researching from other sources but I wanted to be dilligent enough to get in touch and confirm. They werent sure...fine since they still got my query and promised to get back to me with confirmation to my questions. That was back in September and they are still digging. :D

Dave always asks the questions that come to my mind when the guests say something assuming everyone knows what they are talking about. No fear to looking dumb, just straight to the point

[DBk]

This video was brimmed with vital pensions information... I watched an incredibly learned so much. Just excellent selection

[mistercutts]

Best guest you've ever had on, learned a hell of a lot, and did a spring clean on my AVC investments which had some crap defaults!

[CloutMasterGeneral]

My costs for my chosen fund (which has done pretty well to be fair) has gone up from where i initially chose them.

I need to change to a cheaper platform and cheaper fund but im hoping that the pension reforms will make this easier. Otherwise it seems like a huge decision to have to move your workplace pension once to a new provider and then have to move both the new fund and your existing workplace pension into another new fund.

Im quite on top of these things (i have multiple inverstment portfolios) but because this is so far out it seems like the decision seems to be more important than any other in your financial wellbeing.

[ShirazDavidz]

Great Chat team - gave me a lot of peace of mind watching that knowing I'm on the right track with a few tweaks. Thanking you.

[Brown]

LCH is a great inspiration and an even better guest. Was glad to see her back on the podcast. I probably struggle with the 60/40 split as a 40yr old I've only ever seen equities making money, never hearing about building wealth through bonds. Maybe later in life the security of bonds will play a bigger role??

[sopissedoff]

Legal and general default was negative over 5 years up until 2 months ago, its now up 100 quid, i picked four funds from there list, iam up 30/40% over 3 years that i moved equal amounts out

[djscorchuk]

If for e.g. you wanted to save 20% of your earnings for the future (1/2 your age rule), would you be better having all of that deducted from your wages, or 10% from your wages and 10% in a S&S ISA?