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Thread: Finances

  1. #301
    ram it up your shitpipe Giggles's Avatar
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    I'd rather have the money now, and I'd never see a pension anyway.

  2. #302
    Senior Member Adamski's Avatar
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    Quote Originally Posted by Kikó View Post
    I've got a SIPP and a few work based ones which I might combine at some point for ease. Not sure what's going to happen at retirement or how it will work.
    I’m the same. I’ve got a final salary one now so aiming to look at consolidating previous ones if they let me.

  3. #303
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Giggles View Post
    I'd rather have the money now, and I'd never see a pension anyway.
    Not planning on eating after 70 or are you working all the way to the mortuary?

  4. #304
    ram it up your shitpipe Giggles's Avatar
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    Quote Originally Posted by Spikey M View Post
    Not planning on eating after 70 or are you working all the way to the mortuary?
    Not a hope I see 70. I'll save the money to leave the Mrs when I pop.

    I've one from a job years ago that last I recall had €26k in it but I assume it was lost in the crash. I've no idea who it was with or anything and it was pretty Gmail so I've no access to details, so I've written it off long ago.

    EDIT: Actually would have been 26k Irish pounds at the time so it was that x 1.27.


    _

  5. #305
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Adamski View Post
    I’m the same. I’ve got a final salary one now so aiming to look at consolidating previous ones if they let me.
    I have no idea what you 2 are talking about. Is there such a thing as a pension advisor? I want to sort my shit out but I have no idea what I’m doing. I might even have small pensions from my time at BHS and Tesco but I have no idea.

  6. #306
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Giggles View Post
    Not a hope I see 70. I'll save the money to leave the Mrs when I pop.
    Is there a reason, or are you just being dramatic like one of my fat mates? “No chance I’m making 70, I like my beer too much”

    Obviously if it’s the former then you are more than welcome to tell me to mind my own.

  7. #307
    More successful than most Magic's Avatar
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    Quote Originally Posted by Giggles View Post
    I'd rather have the money now, and I'd never see a pension anyway.
    Fantastic self awareness. You unhealthy bastard.

  8. #308
    ram it up your shitpipe Giggles's Avatar
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    Quote Originally Posted by Magic View Post
    Fantastic self awareness. You unhealthy bastard.
    Can only play the cards you're dealt.

  9. #309
    I used to be funny.
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    We're living longer in general. There will come a point very soon where 70 might as well be 60.

  10. #310
    Custom User Title phonics's Avatar
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    Legally obligated to pay something like 10% of your salary into a pension over here and then the company you work for has to match it. So I've got like 3 plans from various jobs down the years which I really should consolidate but that would require forms.

    I think last time I looked there was 60k or so in there.

  11. #311
    I used to be funny.
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    I throw 5% into mine but don't feel it. Might double-down on that again.

  12. #312
    Administrator SvN's Avatar
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    My pension is abysmal. I'm hoping I'll be a millionaire well before retirement age. If not, then I'll have to life off my wife's pension, which will be worth shitloads.

  13. #313
    Senior Member Jimmy Floyd's Avatar
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    I got a pension letter today, I have two grand in it so far. That should last me a few weeks if I eat thin gruel only.

  14. #314
    Isn't he banned? Baz's Avatar
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    I’ve two pensions but both are gonna be worth about £5 a week cos I pay so little into them.

    Hopefully one day I’ll get a good job and that’ll sort it all out.
    I'm a twit

  15. #315
    I used to be funny.
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    My statement came today as well. Not as much as Jimmy.

  16. #316
    More successful than most Magic's Avatar
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    Fuck sake these SNP cunts are bringing in a new tax band for those earning over £30,000.

  17. #317
    Senior Member Boydy's Avatar
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    Look on the bright side, you'll pay less to the wife after the divorce.

  18. #318
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    It's a new calendar year which opens up a few financial questions. TTHers in the know what's your thoughts on the below if I have some spare money...

    1. I can overpay my mortgage up to 10% in a calendar year - it's a 12 year mortgage (probably less now as I've been overpaying already) and the interest rate is pretty low, something like 1.99%.
    2. I could just leave the money in my bank account - should I be getting an ISA?
    3. I could invest it into the stock market, i.e. chuck a few thousand pounds into a company/fund which pays dividends and hope it grows more than the interest I'd save in option 1.

    Already got a load of company shares from work and I don't have a particularly lavish lifestyle so got plenty free cash per month - chucking £5-8K somewhere else in the next few months is something I need to decide on.

    Whats the consensus here? The stability/guarantee of saving interest in the mortgage, or the relative risk of investing in company shares or a bond?

    I've already got about £1K in various crypto currencies which is not going well (turns out I'm not great at HODL or picking gems).

  19. #319
    Senior Member John's Avatar
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    Quote Originally Posted by Foe View Post
    It's a new calendar year which opens up a few financial questions. TTHers in the know what's your thoughts on the below if I have some spare money...

    1. I can overpay my mortgage up to 10% in a calendar year - it's a 12 year mortgage (probably less now as I've been overpaying already) and the interest rate is pretty low, something like 1.99%.
    2. I could just leave the money in my bank account - should I be getting an ISA?
    3. I could invest it into the stock market, i.e. chuck a few thousand pounds into a company/fund which pays dividends and hope it grows more than the interest I'd save in option 1.

    Already got a load of company shares from work and I don't have a particularly lavish lifestyle so got plenty free cash per month - chucking £5-8K somewhere else in the next few months is something I need to decide on.

    Whats the consensus here? The stability/guarantee of saving interest in the mortgage, or the relative risk of investing in company shares or a bond?

    I've already got about £1K in various crypto currencies which is not going well (turns out I'm not great at HODL or picking gems).
    If you've got 'plenty of free cash per month' it's probably well past time you started getting professional advice.

  20. #320
    Senior Member Jimmy Floyd's Avatar
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    If it's return you want, option three. That mortgage is decent already so why worry.

  21. #321
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    Yeah, the stock market is at an all time high and I have zero faith in Donald trump to not completely obliterate the middle class.

    Professional advice is probably a good idea, but I'm definitely not wealthy enough for that. Just looking for some opinions on what others have done / are doing.

  22. #322
    Senior Member Jimmy Floyd's Avatar
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    I have a few k inheritance dough in a fund (F&C) and it's been sitting there gathering a good few percent dust for a few years now. Unless you think there's going to be a 1929 style disaster (I have no idea) then it's a fairly safe bet.

  23. #323
    DEATH TO THE WEIRD Raoul Duke's Avatar
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    I'm in a similar boat. Going to try and find a finance grown-up to gimme some wisdom.

    Really don't want to buy a place as Brexit is fucking everything sideways, but should probably do a bit more than just have money in my bank account :-/

    I have some in an https://www.nsandi.com account, which is Government-backed.

  24. #324
    Custom User Title phonics's Avatar
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    I got all my savings from stuff down the years in government bonds. It's produced a 0% return over 10 years. Incredible investment by me.

  25. #325
    Senior Member Boydy's Avatar
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    Tracker funds.

  26. #326
    Senior Member Jimmy Floyd's Avatar
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    Brexit is great for us low income paupers. House price crash would be a very nice touch.

  27. #327
    Senior Member niko_cee's Avatar
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    (Un)fortunately it's not going to happen.

  28. #328
    Administrator Kikó's Avatar
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    I'd pay off the mortgage as quickly as possible.

    traditional ISAs are low rate so go for a stocks & shares one. If you are investing in the market, go for the long term with a company or more that you like and don't shit yourself when prices go up/down.

  29. #329
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    Yeah, I like the idea of just dwindling down the mortgage. Blue sky idea being in 3 or 4 years I save a deposit and extend this
    Mortgage out with a really low monthly payment a and low capital (<50k would be good) and rent it out, using the rent to help fund/overpay a mortgage in a proper house.

    Think I'll probably shove money into the mortgage, if I'm anything like previous I'll probably manage to fill the max overpayment and have a little left over - just a case of when to do which. Maybe dividend paying shares first and then mortgage. Gonfor somethig reasonably safe like a water or utilities/power company to invest in the shares.

  30. #330
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    Although the long term plan remains to win the lottery. Thus far unsuccessful.

  31. #331
    More successful than most Magic's Avatar
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    Me too. I overpay £50 which means it'll be 2 years shorter, only 31 years instead of 33.

  32. #332
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    Quote Originally Posted by Magic View Post
    Me too. I overpay £50 which means it'll be 2 years shorter, only 31 years instead of 33.
    I've knocked 9 years off mine. Sooner it's paid off sooner I can throw in the towel and retire from this job if it pisses me off and just do something menial to pay bills.

  33. #333
    Senior Member Spikey M's Avatar
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    I want to start investing a small amount each month (less than £100 probably) but I have no idea what I’m doing. Where do I start?

    None of that Cryptocurrency shite, please.

  34. #334
    Senior Member Mazuuurk's Avatar
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    Your best bet is probably to find some relatively safe Mutual fund and stick half of it there, and the other half just buy some random shares. Since you don't have a portfolio at all (?), you usually wanna build up one with some proven, large and quite stable companies first to be the bulk of your Portfolio, but since the safer Mutual Funds often are more or less that, you could also look for smaller up and coming companies and gamble a bit. Small tech startups or Mobile Games developers etc can often be interesting all-or-nothing investments. Same with natural resources (but don't do fossil fuels) - fuck all can happen there until they suddenly get a mining licence they were waiting for and the share shoots up.

    Or you do it like this: 50% mutual fund - 25% large company share - 25% gamble fund.


    How you go about it practically I don't know, but usually your Bank can help you (though often some banks provide better services for trading than others).

  35. #335
    Senior Member Spikey M's Avatar
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    I’m thinking lager companies mostly. It’s mostly going to act as a savings account, but I would actually like some return on what I’m putting away. You know, better than the 6p per year the bank will give you for your life savings.

    I have absolutely no idea where I go to buy / manage / sell etc though? All my knowledge comes from 80’s films, with people stood in busy halls shouting ‘buy buy buy’ at a bloke with a notepad.

  36. #336
    ram it up your shitpipe Giggles's Avatar
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    Quote Originally Posted by Spikey M View Post
    I’m thinking lager companies mostly. It’s mostly going to act as a savings account, but I would actually like some return on what I’m putting away. You know, better than the 6p per year the bank will give you for your life savings.

    I have absolutely no idea where I go to buy / manage / sell etc though? All my knowledge comes from 80’s films, with people stood in busy halls shouting ‘buy buy buy’ at a bloke with a notepad.
    Do you mean larger or are you going to invest in Tennents?

  37. #337
    Senior Member Spikey M's Avatar
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    Larger Lager brands only

  38. #338
    Senior Member Mazuuurk's Avatar
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    Check with your Bank, they might have something so you can open up an account for trading on. Or google around a bit:

    https://www.moneysavingexpert.com/sa...e-sharedealing
    https://uk.stockbrokers.com/guides/s...aling-accounts


    With what you're doing, I'd go for Price and Convenience over ability to trade in everything.

    Initially, just stick your 100 quid each month on big companies that have good dividends payouts historically (you will have to do a little bit of google research here). Investment companies, Banks, Perhaps Telcos, etc. But make sure you're not investing in something that's in a clearly dying business, such as Print media or whatever.


    Pick out 5-10 you wanna go with, read up a little bit about what people would say is a recommended price, and each month chech a little where they are at, if they are at that or below, buy them. That way you can stick your money wherever the price seems best every month.

    Make sure you check their 3 month and 1 year curve as well - if they have been steadily growing for a whole year - it can sometimes be a little less rewarding to buy those shares (Big, stable companies rarely have insane increases in price, but can occasionally plummet after a quarterly report or something - a good point to buy - and then usually recover over time as they fire 400 people and do a bunch of "restructuring" that puts faith back into the share.

    And, don't sell stuff, just buy and be patient.

  39. #339
    Senior Member Jimmy Floyd's Avatar
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    Go into a busy hall, shout 'Buy Buy Buy!' and see what happens.

    Just get a stocks and shares ISA somewhere.

  40. #340
    Senior Member Boydy's Avatar
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    Tracker funds.

  41. #341
    Senior Member Mazuuurk's Avatar
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    Quote Originally Posted by Jimmy Floyd View Post
    Go into a busy hall, shout 'Buy Buy Buy!' and see what happens.

    Just get a stocks and shares ISA somewhere.

    Someone will think it's "Bye Bye Bye" and he'll get shot.

  42. #342
    ram it up your shitpipe Giggles's Avatar
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    Stick it in a pillow case in the attic.

  43. #343
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Mazuuurk View Post
    Someone will think it's "Bye Bye Bye" and he'll get shot.
    Or start an impromptu NSYNC flash mob.

  44. #344
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Jimmy Floyd View Post
    Go into a busy hall, shout 'Buy Buy Buy!' and see what happens.

    Just get a stocks and shares ISA somewhere.
    After some reading I went with this in the end. £50 per month for 6 years. I can increase whenever I want, but want to be cautious as new to this. I went with ‘Moderate risk’ because I’m a pussy, but told them they can stick any morality concerns up their arses. Make it rain. Exploitation

  45. #345
    Senior Member Mazuuurk's Avatar
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    Quote Originally Posted by Spikey M View Post
    Or start an impromptu NSYNC flash mob.
    The outcome would likely be the same.

  46. #346
    Administrator Kikó's Avatar
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    I stick mine into Nutmeg @spikey and it's in a stocks and shares ISA wrapper. Tax free that way so makes sense for you to do it in an ISA at least. Although, I think you can earn £1k interest free in dividends at the moment (which you won't)

    I also have a number of funds invested in an ISA through Charles Stanley - all different indices. I've just left it there for years and it's risen by 16% or so which is not too shabby.

    If you are going to invest directly into a company, find what you want and play the long term game. Trying to guess the market will be 1) expensive 2) you'll be wrong.

  47. #347
    Isn't he banned? Baz's Avatar
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    Quote Originally Posted by Spikey M View Post
    None of that Cryptocurrency shite, please.
    Why not?
    I'm a twit

  48. #348
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Baz View Post
    Why not?
    Because it’s up and down like a whores draws, the arse will fall out of it at some point and you can’t get rid of the shit when the prices sky rocket.

  49. #349
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    Buy high, sell low.

    Foe's life in financial advice.

    P.S this is an excellent question because I'm going to do something similar in tandem with cryptocurrency because I'm a HIGH FUCKING RISK kind of guy. I'm 28, if it goes south, fuck it. I'll worry about it in my 40s.

  50. #350
    Administrator Kikó's Avatar
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    For crytpo, do your due diligence. Work out what the underlying technology is and whether it's worth investing in.

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