I am really focusing on my retirement now, and I’m curious, can I invest my own pension? The idea of controlling my investments is exciting, but I’m a bit worried about the risks. Has anyone here tried this?
Yes, it is actually possible to invest your pension. This is often done through a Self-Invested Personal Pension (SIPP), which allows you to have more control over your investments. With a SIPP, you can choose from a wide range of assets, including stocks, bonds, and mutual funds.
However, it is important to be aware of the risks involved. Managing your pension means you need to be diligent about your investment choices and understand the potential for both gains and losses. Diversifying your investments can help mitigate some of these risks.
Yes, you can invest your pension if you have a defined contribution plan giving you more control. Others manage defined-benefit pensions. Consider risks, and goals, and seek advice.
You should buy a total stock market index and hold onto it for 30 years or more.