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Frugal Git

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Everything posted by Frugal Git

  1. This ‘high earners now stuffing their pensions should caution that they are the ones likely to be paying higher rates in retirement stop, so it’s a wash’ thing. not quite. In retirement you * still have a tax free personal allowance * pay no NI (after state retirement age) So, if you save your higher earnings now, possibly with salary sacrifice which makes it even better and then take say 40k out p/a, then all you’re going to be paying in tax is a total of 13.75% 12.5k tax free taxed 20% on 27500 = 5500 5500 / 40000 = 0.1375 so it’s very efficient in
  2. I agree with all you have said. The UKs excellent defined contribution pension rules, used in conjunction with salary sacrifice were the best thing available to younger generations to 'keep' the majority of their earnings and make the best of the sh1t sandwich we have to eat. Take that away, and its literally crypto or bust. But yeah, do the three day week thing as soon as you can imho 👍
  3. you don’t need to be either of those. You can do this earning 50k, easily, And still live relatively well. Heck if you have a family and rent, you can do this and reduce your earnings (all the way to minimum wage) such that you'd qualify for quite a bit in bennies.
  4. In my role (engineering), I produce exactly the same amount in 3 days as I would have in 5. Probably have better ideas too because of the downtime. Admittedly, that can’t be true of all jobs but for the sort of things I do, it makes jack difference or is an advantage.
  5. Anyway, it’s all smoke and mirrors. 100% there will be some kind of loophole - by design - somewhere that creates an alternative opportunity to avoid tax for those in the know, or who know where to look. There always is.
  6. I would hope many people work out it’s better to do what I do, and work part time. They can’t tax that.
  7. If this happens, it’s time to consider the old plan - ‘hedging’ my pension with a spread bet. depending on the way the wind is blowing, short FTSE in one, long in the other. Aim - always keep value of pension pot to below LTA, by losing in the pension and winning in the tax free spread bet shelter.
  8. Yes, quite. I’d imagine swathes of very average public sector earners have defined benefit pensions effectively worth way more than 800k.
  9. I would need to make adjustments if this is the case, I’m on for 800k in mine before I hit 50 800k, at current annuity rates (obvs most of us lot would use drawdown, but it’s still an important measure) would not return a brilliant amount - probably 35k p/a for a 65 year old retiree, non index or spousal linked. you could probably drawdown around 30k p/a and maintain the fund if you’re proficient. Sounds a lot, but it’s not really. It’s baffling how they can consider this. 800k will be jack sh1t soon. Edit - the bits about reducing reliefs going in, and taxing employe
  10. No way. The opposite. You want me to work from home? Pay me a lump 200k so I can buy a house big enough to comfortably accommodate WFH.
  11. I’m one of those. I’m definitely not part of the ‘everybody wants egg with the option to pop into the office’. I want to work in the office, full stop.
  12. Got my btc news from the BBC today. this El Salvador news is epic. I wrote a comment on a blog post of a reasonably regarded economist the other day, an obvious anti bitcoiner who claimed that ‘bigger institutions (governments and the truly giant established corps) can do better than bitcoin as a treasury asset’ if he *really* wanted to bet, based on the historical adoption over time we’ve seen it ends at Tesla/ PayPal / Square / Microstrategy, or whether they are just another step in the inevitable adoption. this is massive though imho. Biggest day in btc history since genesis.
  13. Anyway, back to BTC. Its the only thing I've ever bought that had already gone up 10,000,000% (not accurate but you get the point) from its inception to when I bought it. It had gone up 30,000% from when I first started investigating it, to when I bought it. With anything else, there's no way in hell I would have bought it. I'd have looked at that chart and assumed it was gonna bust, and left it at that. The reason I took so long, was I still had some degree of faith in a reckoning to the financial system that *wasn't* bitcoin. I still had some faith in 'the free market'.
  14. From that link, I really like this "The upper right quadrant of the chart also happens to be the native home of the yuppie elite. To succeed in the educated, professional class, you have to be smart. But it’s also crucial that you know how to fit in, be a good team player, navigate industry politics, be polite and likeable, and above all be a good foot soldier willing to sacrifice for your employer. The requisite core belief to be able to be all of these things is trust in the system - trust that if you are a good employee and play nice with others, that you will be rewarded via promot
  15. Excellent read. My (and thus my colleagues) environment is extremely Cosetted. Very few I doubt have friends or family who have anything other than 'benefitted', at least in a surface level from the current financial system. The younger ones haven't - but in this sort of environment they tend to get wowed by the older ones. Only one young person I ever met *truly* did the work to dive down the rabbit hole - not just on crypto, but stocks, bonds, commods, the money system, debt, everything. Independently of me. And he came to the same conclusions I did a few years previously...but wasn't acting
  16. This is probably the best post you’ve made in this thread 👍
  17. I hope this is considered on topic, but curious of others experiences of this. If you work in tech, or know lots of people who do, do you find that almost overwhelmingly people *hate* crypto in general, and there’s just a few of us outliers? where I work, and on the numerous tech forums I frequent the comments are almost always utterly negative. my opinion is it’s because most people, and this definitely includes extremely intelligent people otherwise, are just completely clueless when it comes to how the financial system works. Or they have swallowed some line they repeat ad nausea
  18. One of the best songs 👍 And truth is, in this sort of arrangement, how often do you even get to touch the body? And is it even worth it when you do? I can only imagine it's deeply unsatisfying for the other party because there's no real love there which thus translates into a deeply unsatisfying experience for yourself too. Unless you're a sociopath or a walking d1ck/pu55y 🤷‍♀️ Aka Totally pointless.
  19. If you work in the Uk office of a US tech firm though, the 2.5x-5x disparity still applies (to most) and we deliver the same stuff, if not better. I agree with the second point - it’s definitely not raking it in and it’s chicken feed. That said, *a lot* of my peers would say it was indeed an astronomical sum, and I’m not talking non tech people. I’m talking people in the industry for decades. It is *shocking* how many people are still happily languishing on 40-55k. Hell I was until 5 years ago. Once you learn the dirty secret of how much an average US engineer gets, if you’re an goo
  20. When will people learn?.... ....to read the tech news. She really should have waited for the M1 or whatever variant of Apple silicon it ends up being in the very imminent new 16” MBP. She could have just asked for a second hand i7 for now, and then gone all out later.
  21. 2, 3, 4 (motorbikes - also does a Tesla with free supercharging for life as a hedge against energy prices count 😂), 6 and 7 for me. I hold a nice-ish distribution - permanent portfolio esque of shares, crypto, metals and cash. This is sufficiently diversified - who knows 🤷‍♀️ I totally refuse to do 1 unless I'm forced in some way. Even if I know the debtors are going to get bailed out by inflation, I can't do it. Sod it, I'll be fine. 😁
  22. Indeed. My point is the headline price of just one BTC is now so great, it brings an even greater level of attention.
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