I am in a fortunate position to have quite a healthy investment balance at 35 years old inside my SIPP (UK pension account). However, I definitely struggle with knowing when to realise a gain and close out a position, for two reasons.
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I can't access that money, its in the account for at least another 20 years, so what is the point of closing a position if I believe it will go up in the next 20 years.
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When I don't have a plan of what to do with the cash once I close out a position.
These are the sorts of things I think about, I am just not sure what the process should be. Any thoughts would be much appreciated.
When to close out an investment when it is in a pension account I can't access for 20 more years…
byu/onemansbrand ininvesting
Posted by onemansbrand
1 Comment
Your answer practically wrote itself.
Don’t fucking sell a thing unless you have something you expect to do better in the long term; don’t touch it. Definitely don’t put it in cash. Your retirement account is for retirement. Do you think cash is a good option 20 years from now? No, so stay invested and try and buy things that you don’t feel any itch at all to even think about selling. That’s why people recommend index funds, because you can just buy it and put it in your drawer for 25 years and not think about it. Don’t get fancy.