28 years-should I switch to i high risk pension?

Killter

Registered User
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Im 28 and was wondering if I should be putting my money into a high (er) risk pension scheme, as opposed to my safe, standard one.

Any suggestions would be great.

Cheers,

Killter
 
Given the time frame involved (~37 years) you have time on your side. Personally I would go for a highish risk one, but it all depends on your own personal aims. Do you want a pension that will be safe and provide a reasonable return or are you happy to take the risk of a loss in the hope of gaining a higher return.

It's a question that nobody can answer for you.

In the past, given a timeframe such as yours, a riskier option would have provided far higher returns. That doesn't guarantee that the same will happen for you, but the risks of it turning out very poorly over a term of +30 years aren't too high. If you go for a pension that is really "safe", you may end up with returns that don't keep the sum in line with inflation, so no such thing as a true no risk.

Personally, at 28, I'd go for the highest risk option and change the make up of the pension as the term reduces.
 
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