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yekim1967

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Posts posted by yekim1967

  1. big difference between uk and canada schooling your joking right?

    These indexes always seem pretty damn arbitrary to me once you get outside of the obvious extremes such as quality of life in Iraq vs. Sweden. The education rating for Canada and the UK is a good example - I've seen both countries up close and, really, there's not that much difference and certainly nothing that would allow you to say that one was categorically better than the other.

  2. Elephant and Castle is a horrible area, and even worse its surrounded by bad areas, Stockwell, Oval, Kennington, Camberwell. This is the worst area in all of London in my opinion. You would have to travel by underground or bus to go anywhere decent. So why bother moving to save on commuting if you still have to travel so much. The link shows the flat at 657 sqf, seems much larger than that!

  3. This is the profile of an apprentice contestant... I am sure she bought with cash, would a bank give a mortgage to a 12 yo, or maybe RBS or Northern Rock had special mortgages for young people.

    Zoe Beresford

    Age: 26

    Occupation: Project Manager – Drinks Manufacturer

    Lives: Cheshire

    Born in Stoke-on-Trent, Zoe joined her family firm straight from university and played an integral role in the company's development working in sales and marketing. Zoe, who bought a house with her sister at the age of just 12, describes her attitude as not "why" but "why not". Zoe was awarded the Rolls-Royce Manufacturing Technology Prize for the highest dissertation mark in the school of engineering

  4. Type "Bansko Bulgaria" into a search engine. I did this last week, friend had bought there in 2006 and has now lost most of his cash.... :rolleyes:

    2 bed appts are 30K€ or less. I imagine a 1 bed can be bought for 15k€ or thereabouts.

    But why buy when you can rent a 2 bed appt there for 200€/month ?

    A least in Bulgaria, they now have their property crash/tsunami. Wish we had the same in West Europe B)

    Except when the World Cup was on, then is was 200 for a couple of nights. I would go back but definitely not during the busy times.

  5. I can't wait to move out of N1, great place to go for a night out but to live there is another thing. Too many council scroungers, with their status dogs, crime is probably one of worst areas in London. I think there was a programme on TV a few years ago that called Islington the worst place to live in the UK, and now I understand why.

  6. I live in n1 and defintely overpriced as stuff is on the market for ages check property snake or property bee to see what i mean. Also bezier at old street is not selling at all. There is another at new development on new north to road and a couple on city road. Actually n1 must have the one of the highest amiunts of council tenants so will be interesting to see how the benefit cuts effect things.

    Every development around N1 / EC / E1 I have enquired about has almost sold out. So new build for that money, forget it.

    Maybe heading towards the Hackney end of N1 you'll find somewhere suitable.

  7. I'm surprised that there doesn't seem to be a pension thread anywhere in hpc.

    Given the current economic climate, does it make sense to trust in this type of ponzi, or would it be better to try to make your own investments to save for retirement?

    I'm in my early 30s, but just can't help thinking that many pensions will be next to worthless by the time I'll need them to pay out. :huh:

    Just make sure you have a pension of some sort, whether it be gold or the mattress, otherwise, you face bleak job prospects in old age and poverty, with that attitude.

  8. Unless you are paying higher rate tax, there isn't a great deal on incentive to invest in a pension. Pensions are only worthwhile if you are paying 40%+ tax when you stick the money in, and paying 20% tax when you withdraw it.

    To put £5K/annum in, as a basic rate tax payer that is £4K net that has to be paid in. For a higher rate tax payer it is £3K or even £2.5K net. And the higher rate tax payers are more likely to fund the pension more.

    Do that over 40 years and with a bit of luck your fund may be £300K and you can get a lump sum of £75K and an income of £10K/annum. Thing is after putting in £5K/annum you have to live for about 20 years to get that back ignoring any inflationary impact. And you pay tax above your allowance.

    Little wonder most people don't bother.

    I agree that its only worthwhile for 40% tax rate payers, that what I meant by high earners. But remember of that tax rebate, its effectively almost 70% ROI which is guaranteed, which is impossible to beat with any investment. Of that rebate 50% is tax free refunded, and then 25% of the pension is also tax free. A lot of the pension comes back tax free, in the end and certainly 100% of it grows tax free the whole time.

    The simple fact is you will need a pension in old age, or live in poverty, or work if someone will hire you at 70!

  9. Agreed, totally bonkers and if it the maths worked out in the manner suggested everyone would have a good pension without a problem. It's just insincere B.S. to get more sales. As you say, you'd be lucky to get an income of £5k p.a. at toda'ys prices for that contribution.

    Why is it bonkers? I calculate about £600,000 2.50 per day, from age 20-65 45 years, compounded at 8-10% inflation 4% Its possible, 8-10% return on investment is certainly realistic, you could probably do much better if your good at investments.

    The point is that you dont have to save much to have a big pension. Just make sure its tax efficent, and you start early so the returns compound. A £1000 investment after 45 years at 8% is £30,000

  10. London is still in a bubble, but things are starting to change. My landlady paid £510k for the flat I live in (in 2008). There is a very similar one in the same street now one the market at £399k...

    I posted this a while ago (in the wrong forum) about London EC1 where I live http://www.housepricecrash.co.uk/forum/index.php?showtopic=162229.

    I am looking to buy at the moment now within zone 2-3 and selling prices are around 2006-7 level. Some listing prices over 2007, but they are not selling, stuff on the market, months, and in some cases YEARS in good central locations! LOTS of good price reductions. The odd bargin can definitely be had, and I mean well below 2006 prices. The London market is dead, volumes are terrible that is obvious to see. I only see indicators pointing down for the London market, immigrants leaving, lack of demand (or lack of people with deposits/jobs) and gov't cutbacks will hit hard. A lot of unoccupied places out there on my viewing trips. Agents, brokers, surveyors are like leeches desparate for work. The bubble is deflating slowly....

  11. I started a private pension in my early 20's

    The GRE 'projection' was over £1.5 MILLION at retirement on my meagre wages up North. This was when share markets were going through the roof at the time

    (I still have the mis-selling brochure somewhere - don't trust the City as far as you can spit)

    I was involved in the Pensions mis-selling and the charges + annual 'fee' ate most of what I put in year by year. I stopped paying in after becoming less financially naive.

    Vi crap above - The fees and annual charges on Pensions run by the City are at record rip-off highs with lower returns paid on completion of term - so don't bother filling their pockets and look for a smarter way to build your pension

    Yes, but you can get the benefits of a pension and invest them in almost anything via a SIPP. and control the charges yourself. No investment is free of charges, but I understand what you mean by city folk ripping off investors, so its not just pension funds, its all investments, even property.

  12. Of course there are other things, but I wasn't posting about those.

    From the POV of the average, not especially sophisticated investor, who is not going to start spread-betting or forex trading, and who maybe doesn't trust fund managers or doesn't feel like paying their cut, how many options are there?

    For income, equities paying good dividends are seen by many ATM as a lot better than cash deposits, but particularly since investments like certain supposedly 'safe' bank shares crashed, a good many people are still going to put more faith in physical assets that can't melt away overnight.

    These are just the facts as I see them, not a pronouncement of what is necessarily right or advisable.

    The tax benefits of pension to a high income earner are very good, and I think long term that is a better investment than BTL. BTL makes 5% gross at best, and you will struggle to cover the mortgage unless you put down a massive deposit, so you will lose money for several years in the current market. In a penson, you 25% cash back now, plus 25% uplift (effectively a 70% return in year one, then you can take out 25% tax free at 55). That said, most BTL ignore the tax impact of their investment as it is unclaimed (so I hear?) BTL has poor yields, huge expenses, maintenance, lots of risks, and thats before the tax impact, no thanks! I will put my money in ISAs and SIPPS until I see atleast a 10% yield on BTL.

  13. Big difference from nw6. Not sure yourreason for moving further out but try totteridge if you want something more peaceful, green etc and price is fairly similar.

    Anyone looking at this area or live here and have comments - were coming from NW6 - looking for 4bed semi. Have been looking for a few months in general supply is very tight (but then the area is not that big) and also prices sticky around 600-700K although we have seen massive jumps down in asking prices for a few places around the 800K. We like the area think its got long term appeal other thoughts welcomed. ...

  14. I used to think that as well until I moved to islington. The street I am on 20 or so Victorian terrace flats worth close to a million each have atleast half have council tenants.

    That's bullsh1t. One or two totally brazen cases, maybe, otherwise not. The average asylum seeker is living in a crap-hole in Mile End, not a mansion in South Ken.

  15. 6months of minus 10-20 really. Looked at it on the map much further south than London. Are you sure? I went last summer was over 30c everyday would love to live there. There was all kinds of stuff going on. As a city break I highly recommend it. Its also visually a beautiful city

    I went to Toronto 7 years ago to do a 1 year Visual FX course.

    It was the end of December i went and i have never felt cold like this in my entire life minus 10-20 on most days, i was told itll be like this for another 4 months it had already been like it for 2 months i was told.

    The natives whilst polite are so boring its untrue, they have no culture of any variety and they dont even have pubs/bars/off licences on every corner like they do in England to drown your sorrows.

    Everything you buy is priced without tax then they add something like 10% to everything you buy.

    I stuck it out for just over 2 weeks and ive never been so happy to get back to England in my entire life, mid January here felt like the tropics in comparison, even an Indian guy on the plane flying back said he'd never visit the place again.

    If i won a VIP trip to Canada id give the prize away, never again under any circumstance will i put my foot in the nation.

  16. Couple of anecdotes with a similar theme: two UK ex-pat acquaintances here who own property in London were looking to sell up to buy in Sydney. Changed their mind and have been sending cash back to the UK for the last year or so. One of them was back in the UK last week and decided to buy another property there. Met with a bank and they were more than happy to lend to him even as an overseas resident. The key thing is that his A$ salary converts to a ridiculous GBP equivalent: he'd a general manager here but he's paid like a CFO in pound terms.

    Shag all mortgage interest rates plus weak pound... if the Aussies are doing it, there must be plenty of other resource drive investment from nearer by.

    "Bad" news for Sydney property, "good" news for London?

    London looks cheap compared to paris sydney Vancouver mainly because the pound is weak and getting weaker. But locally London is still expensive and domestic economics will always rule. Look at Miami as a perfect example

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