This Monday I got my first-ever pension payment — and although it'll be another nine years until the next one, receiving it left me with very mixed feelings.
This was a one-time payout, so I decided to invest in a small number of shares in Amazon (AMZN), Pfizer (PFE), Realty Income (O), and UnitedHealth Group (UNH). We've chosen to deviate from our initial strategy of focusing solely on dividend stocks by adding a smaller allocation to growth stocks — hence the inclusion of Amazon (AMZN).
Of the five private pension insurance policies I have in total, I somehow selected age 55 as the starting payout age for this particular one, which was disbursed on my 56th birthday. In hindsight, I really wish I had set age 55 as the payout age for all five policies, because honestly, no one cares about my money more than I do.
For example, in two of the four remaining pension policies, my options are limited to funds only — and even then, just the ones the occupational pension company has approved and included on their platform, rather than any fund I might choose myself. The remaining two pensions were the most recent ones I acquired, and that's when I had the insight to opt for a type of pension account that actually allows me to invest the contributions directly in shares/stocks.
Today, only one of the five pension insurance policies is still receiving ongoing contributions. The other three are now on their own, growing through investment returns without any more additions from me.
AI generated image with Grok
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