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House Price Crash Forum

Guillotine

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Everything posted by Guillotine

  1. I think it’s to be expected what with the whole country reportedly going downhill more each day.
  2. Pension credit, council tax allowance and housing benefit are all additional incomes as far as this discussion is concerned.
  3. Thanks Nome. You didn’t have to set that out I took you at your word. wow. Truly enlightening. I am in a Surrey AONB but it is anything but quiet - M25 like a buzz saw at the top of the village and under the Heathrow and Gatwick flight paths! But I do also have access to wood as fuel, but I’d better crack on and collect it.
  4. Flipping hell. Have you started this lifestyle yet? Make sure you’ve read the meters and are up to date before you do. I can’t match you not get anywhere close- and I have had a short trial. I don’t drink, grow a bit of food, have two wood burning stoves and I can’t make my basic ends meet for anything like £6k per annum whilst running my own home and person to a reasonable standard. And I share many costs with my wife. I would also have to sacrifice day to day things. Popping out to the bakery to get a loaf and a coffee, pay car parking, buy clothes and shoes and subscribe to gym, national trust and the local wildlife trust. So I am going back to work, and will refocus on getting to 60 healthily and happily way. Ten years more savings and ten years less to finance from savings. I also have a pension fund and full state pension to come online down the road. So delay is a great virtue for me. We should both note how extremely fortunate we are not to have to incur property and family costs from this financial POV. It is really interesting to me that perhaps I could pare down my living costs further based on your view.
  5. That is extreme- good luck to you. I’ve had a taste of retirement for a few months aged 50 and it was enlightening - and yeah, you can go of course go back to the workplace. Growing up in well not quite poverty, but absence of wealth, as many of us did, it’s beautiful to prove you have gotten to a point where you can survive. So for me, having worked and saved myself out of the gnawing sense of imminent financial doom I really don’t want push my future self back down that track.
  6. Yes the picture is very different for two with many shared costs. That’s fantastic that you can do that together comfortably. What sort of sailing can you do on that budget I’d have thought that was immensely expensive? I still doubt it is possible for an individual to survive medium to long term on £11k without soon coming a cropper on some large essential capital expense and living in abject lonely poverty.
  7. Yeah I had not thought about that but working remotely and in your own space is helpful. When you reach 60 and your office is populated with people who are typically 30 years younger you will progressively become more alienated. Notably when a young pup becomes your boss. You will also be wise to remember there are no exceptions to getting older. You lose strength and vitality and the combativeness you need to get things done right does fade. You really will not be an exception.
  8. No way can anyone survive on £11k a year without leaning very heavily elsewhere for support. Council tax is £200 a month for pities sake. Very soon, under they sort of regime: -Your home becomes delapidated -Your appliances exceed their useful lives -Your clothes turn to rags -Your social life evaporates
  9. I live well enough. But I’ve been shaped very much these past 15 years - more probably- by the savvy frugal doctrine of HPC. We did capitulate and buy a home about 8 years back though. I am quite private and don’t live my life to make a splash on Facebook- I deleted my profile from all social media some time ago. And yes in my experience private medical is a good thing. I could sit and wait in pain for the nhs, but life is too short. It’s proved worthwhile in the past. Finally I don’t want to spend time with people 60+ right now. I want to spend time with my friends, but they are all still working. When I am 60, they will be 60, and more will have stopped working by then and be looking for things to do too. So I’ve sampled retirement but it’s not really appropriate for me right now. (Well really all I did was choose to stop working - to see if I could lol). And it was cheating anyway as my wife still works. The main thing for me is that my work needs to be about more than money from here on in.
  10. I’m okay keeping in touch it is just difficult out trying to catch up with people at the moment. When everyone is retired I anticipate there being a lot more people to hang out with. In respect of pensions yea I only have my own funds, no final salary pension. But it has done okay and still 10 plus years to grow and accrue further contributions. At 50 I have now accrued the ‘stamp’ for full state pension. There is literally no benefit to me to pay national insurance. I was literally a year or so late to my significant employer who ditched their final salary scheme in 1993. Hard to believe the civil service still have theirs! Mind you I pocketed shares which have been paying me £10k a year instead.
  11. I’m 50. I haven’t worked all summer long, and have been able to care for my elderly parents*, and do some work on home and garden. It has been ludicrously cheap and enjoyable. But I’ve been a bit short of company despite the wife working from home. I’m at a crossroads where I could subsist as “retired” but I also want to capitalise on all the effort I put in to get here by working for another decade. Furthermore, when I reach 60+ there should be many more people around to spend time with. Realistically my finances are not going to change dramatically for the better or the worse from this point in unless my health deteriorates- so the only thing I really see worth working for in addition to subsistence, is medical cover. Funny how things go to this point after so much struggle and sacrifice. Didn’t think it would come but that perhaps is shared by a lot of generation x’ers.
  12. Yeah to work out what sort of taxes you will be paying in retirement is a dogs dinner. The main thing to remember is that at age 75 a final valuation of your fund occurs with tax implications for exceeding the lta. In my opinion even modest savers will be subject to the surtaxes by then, and many will need to have retained a fund to help see them through the sunset years. With the direction of travel for pensions saving since simplification perhaps they should take another look at the lta. In addition administration of pension funds is going to get more and more complex as individual tax events mount up and those funds pass to beneficiaries on death etc etc. I’d sooner we had the lta in terms of the contributions rather than the fund value myself. Removing the tax free element of pension savings will result in the government implementing that being wiped out.
  13. Yep I’m surprised at those prices, Battersea prices appear to be lower than here in north Surrey. It’s really close to touristy London there albeit over the river. I’d expect reductions to move quickly to places like Brighton, Docklands and the east end. And god knows what will happen to all those newish flats in southwest London. Ouchie.
  14. A crash would be best defined as market conditions so poor that even those previously desperate to buy, decide that property is no longer an attractive investment.
  15. In respect of pensions and fairness. Protected tax free cash arising from accrual pre 2006 should be stopped. Limit it to 25% for all. Also, defined benefit pensions should be valued properly when assessing lifetime allowance. Currently this is evaluated using a fixed annuity factor of 20 when in reality many public sector annuity factors will be closer to 40.
  16. £40-£60k ? That’s one mans wages for a year. It just needs taking down and replacing - you can’t scratch around with an old house with so many issues - notably damp coming up - and straight in. Wrecking crew for a week then contract a house builder to plonk a couple of semis on it.
  17. He’s wrong to say everyone tested for covid19 will return a positive result. They don’t. My understanding is the tests are specific for covid19, elements of some tests do look at generic Coronavirus properties but each of those should be compounded with an indicator unique to covid19. I make him wrong there twice then without thinking too hard. The deaths count/attribution concerns seem more rational. I’m sure we all have concerns about civil liberties - highlighting that is always welcome.
  18. I like and support the long term thinking on this - with organisations, businesses and individuals making sensible decisions without being dictated to.
  19. I guess the government can requisition private hospital beds too. Must be a fair few of them?
  20. It’s a good thing to have the courage of your convictions. You also need to be aware that you might not be right and that you are allowed to change your mind. i sat out the market for over 15 years. I literally could not commit largely because I wanted a better house than I could afford. It’s not something I therefore regret. I ended up buying a dump when I was actually in a position to deal with it emotionally and so much notional money had been lost it just didn’t matter anymore. There will be a sharp fall in prices. I’m ready for it and I do hope you are too and things go your way..
  21. This thread has reminded me my mum ‘lent’ us two thousand pounds to pay for some plastering in our cottage which we bought from my parents at market rate- which she insisted was completed and arranged with her Friends son. I should probably pay it back but she ain’t getting no interest.
  22. Difference is there are now 200 domestic games per season in the 7 available packages whereas previously it was 168. With 120 games in two packages still to be sold they only need to be sold for about £5.5M per game to match the previous subtotal. ( So far the premium packages have gone for £9.5M ‘ish’ per game.) Furthermore, the expectation/hope is the non-domestic packages, which are also up for grabs, will show a large increase in bid prices. Proof will be in the pudding, but despite these headlines the clubs incomes may yet increase.
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