Like Tree118Likes

Pensions decimated

Closed Thread
Page 1 of 17 1 2 3 4 9 ... LastLast
  1. #1

    Join Date
    Aug 2011
    Location
    Hong Kong
    Posts
    652

    Pensions decimated

    If you see a lowly expat shuffling down a road with a begging bowl, have a heart.

    The dive of the GBP against the USD and thus the HKD is destroying any UK pension. Mine is decimated. 3 months ago it got to 10.52 and today is 8.52. The USD at 1.09 heading down.

    The HKG voucher money will help thank God but definitely have to leave if no respite to take advantage on GBP going the other way.


  2. #2

    Join Date
    Aug 2008
    Location
    猴山
    Posts
    22,690
    Quote Originally Posted by David4Maths:
    If you see a lowly expat shuffling down a road with a begging bowl, have a heart.

    The dive of the GBP against the USD and thus the HKD is destroying any UK pension. Mine is decimated. 3 months ago it got to 10.52 and today is 8.52. The USD at 1.09 heading down.

    The HKG voucher money will help thank God but definitely have to leave if no respite to take advantage on GBP going the other way.
    Reaganomics plus competitive devaluation = Trussnomics

  3. #3

    Join Date
    Feb 2019
    Posts
    2,662
    Quote Originally Posted by David4Maths:
    If you see a lowly expat shuffling down a road with a begging bowl, have a heart.

    The dive of the GBP against the USD and thus the HKD is destroying any UK pension. Mine is decimated. 3 months ago it got to 10.52 and today is 8.52. The USD at 1.09 heading down.

    The HKG voucher money will help thank God but definitely have to leave if no respite to take advantage on GBP going the other way.
    Any sensible pension will be heavily invested in US stocks which will tidily insulate you from the current problems. You might actually be *better* off if you visit Blighty...

  4. #4

    Join Date
    Dec 2020
    Posts
    243

    Mostly everything, except the USD/HKD, is being decimated.

    Been here 7 years and my MPF, which includes TVC contributions, is now negative. My portfolio back home is in shambles (and yes that includes US stocks and ETFs). And yet inflation is running rampant. Retirement is feeling like a dream now.


  5. #5

    Join Date
    Sep 2018
    Location
    Hong Kong SAR China
    Posts
    2,037

    Just wait it out, same as every other recession. Everyone is being screwed one way or another


  6. #6

    Join Date
    Mar 2010
    Posts
    6,220

    I get USD and do mental accounting in Euro.
    No complaints.

    qhank and Gollygordon like this.

  7. #7

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    27,863
    Quote Originally Posted by aw451:
    Just wait it out, same as every other recession. Everyone is being screwed one way or another
    I have been waiting for Sterling to rally all my life.
    Morrison, Mcdavid, vmlinuz and 4 others like this.

  8. #8

    Join Date
    Dec 2019
    Posts
    429

    "Buy when there is blood in the streets, even if it's your own."

    Cheeky Kiwi and Andy SNK like this.

  9. #9

    Join Date
    Aug 2011
    Location
    Hong Kong
    Posts
    652
    Quote Originally Posted by Crankshaft:
    "Buy when there is blood in the streets, even if it's your own."
    On the upside I have profited 600k HKD equivalent on the house if I sold into GBP. However they don't take that sort of cash at the supermarket.

  10. #10

    Join Date
    Mar 2010
    Posts
    6,220
    Quote Originally Posted by Crankshaft:
    "Buy when there is blood in the streets, even if it's your own."
    You probably have never seen blood in the streets.
    Mcdavid likes this.

Closed Thread
Page 1 of 17 1 2 3 4 9 ... LastLast