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Money Frugality

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Posts posted by Money Frugality

  1. 10 minutes ago, Warlord said:

    They're bluffing with all the talk and people have fallen for it

    They will not raise rates. TO do so threatens the solvency of the nation itself. Look at the interest payments on the national debt.

    So they're going to let inflation rip 

    This is my thesis.

    Remember the banksters are not playing by normal rules any more..

    ^ correct, you won’t be seeing interest rates > 1% within the next 3 years.. and inflation will be running at ~5%+ the idea is to inflate away the debt.. 

  2. Contrary to common sense.. It took them this much QE borrowing under the guise of Corona to even get inflation, I'm guessing as soon as they quit the shots, in time, when this blows over, we're going to experience deflation like never before :) probably wrong but they always say the majority are wrong.. 

     

    We are still experiencing the lag in the ridiculous Corona measures taken.. I'd expect rises for the time being and unless QE is continued at a high enough level what, a big deflationary spiral in 2 years? 

  3. 11 minutes ago, TheCountOfNowhere said:

    QE alone wont allow people who are maxed out to borrow more to pay a tory more for their houses.

     

    22 minutes ago, Tiger131 said:

    If there was a government funding crisis the BOE would just QE rather than vote a negative rate.

    See USA lol

     

     

  4. 12 hours ago, winkie said:

    Leave them on then....your choice.lol.;)

    12 hours ago, Locke said:

    That's total nonsense lol.

    Think of the polar bears! 
     

     

    10 hours ago, markyh said:

    All are Detached, separated by driveways , slightly staggered frontages from the private road in pairs. Looks very smart, and everyone spends money on their frontage, so there are no scruffy ones. Doors where all white, now every door is a unique colour, except one who retained white.

    Intrigued now, pics or pencil drawing haha? 

  5. 5 hours ago, markyh said:

    Why? My relitively modern detached house built in 2009, currently has no heating running and is sitting at a passive 23 degrees c.  Even in mid Winter in minus temps, if i switch off the heating, passive temp dont drop much below 15 degrees daytime and 10 degrees at night.  

    Uncomfortable and means more layers in doors , rather than 24/7 shorts and t-shirts, but we are no Canada in Winter. 

    Lol this too hot in summer, wrap in a blanket or dressing gown in winter. The only time my heating goes on is when a guest complains it’s cold 😂

  6. 8 hours ago, Si1 said:

    There are anecdotes on here of people who have made a fortune buying flats. Does seem a very fat tail risk...

    Could say the same about buying a house though.. And I’m more so referring to OO whom even if they made gains on their flat they wouldn’t be able to sell for a house in the same area without forking out more anyway

    7 hours ago, PropertyMania said:

    works so long as you can find a greater fool to sell to. Highly risky if leveraged and only asset

    RL?

    ‘real life’ friends the sitcom, problem being how will they sell it as a solicitor should pick up on the regulations 

  7. 29 minutes ago, PeanutButter said:

    That's astonishing.. My parents are relatively well off and I don't get shit except when someone dies haha! 

    On the flip side though had previous partners who have done and the difference in work ethic is clear. However, I have found that people from money, their off spring manage it better so I wouldn't wholeheartedly buy into the three generations of wealth thing.. 

    Personally my kids getting provisos and stipulations on when it can access it.. I'm passing down the knowledge of how to keep it going firstly which isn't rocket science. No work ethic, it goes to charity.

  8. Just now, PeanutButter said:

    We have an aging population, creaking infrastructure, and rising care home figures. Should people have a choice about how they die?

    Would you choose euthanasia if faced with years of mental deterioration and/or physical pain?

    I suspect this question will be asked more often in the years ahead.

     

    Do you really think the boomers will fall on their sword? They crave life and fear death.

  9. 13 hours ago, Mikhail Liebenstein said:

    I do genuinely think the UK is now set on a low growth inflationary course - essentially stagflation.  This is why pensioners complain about low income and why the economy isn't generating easy (from low tax rates) tax revenue.

    My personal approach is to grt outside this by being heavily invested in non UK equities which are showing growth. Overtime my remaining fixed rate Sterling repayment mortgage will get eaten away and my equity holdings will do well relative to GBP based investments.

    And to be honest, the FTSE has gone nowhere in 20 years..., which is why so many UK Pensions are poor...i remember and IFA once telling me to avoid foreign stocks due to the exchange risk...i thought that sounded dumb ignored him.

    Back to the FTSE:

    https://finance.yahoo.com/quote/^FTSE?p=^FTSE&.tsrc=fin-srch

    We are barely above the top of the market from DotCom which is nearly 22 years ago. Factor in the exchange rate, which was more like 1.65 to the Dollar and we are actually down, then take inflation into account and we are down loads.

    E26D6979-2333-451A-A2AA-9BE72191B8C8.jpeg

    Agreed with this.. Dumped all UK equities at the last peak… Question being is if eg invested in a fund should it be hedged to gbp or let loose but run the risk of other developed countries being in a similar predicament re inflation or currency devaluation.. 

  10. 2 hours ago, Mikhail Liebenstein said:

    Not sure if this is the usual testing the water, but Bozo want to break the Tory tax pledge and hike National Insurance to pay for adult social care so pensioners don't have to sell their houses.

    https://www.dailymail.co.uk/news/article-9953203/Boris-Johnson-break-manifesto-pledge-raise-National-Insurance-pay-old-age-support.html#article-9953203

    How is a tax on young workers justified when many pensioners are sat on substantial housing assets?

    Came here to find a post on this and you delivered. :D 

     

    1 hour ago, IMHAL said:

    It is a tough issue because that older persons house is also an inheritance to the younger generation.

    So....?

     

    37 minutes ago, scottbeard said:

    Rich people don't get more State pension or more unemployment benefit - so why should they pay a higher contribution to the scheme?

    Rich people already pay proportionately more income tax overall. 

    This ^ 

     

    So the current working population are paying for this, what ever happened to "I've paid in all my life, I've paid my fair share...?"  The basis of this was social care caps and the NHS.. Typical emotional blackmail and people are accepting of this judging by telegraph comments.

     

    Regardless of how you end up there if you cant pay 80k for healthcare post retirement. Where is the accountability for peoples choices.. *Note* I'm not including people with *extreme* circumstances which are few in comparison to the majority. 

    Once again government interference at a time when inflation is set to bite as well.. 

     

    Also this doesn't hit just lower incomes since sub 50k is still paid for at the banding rate, NI is progressive just like income tax no? After 50k you are still paying for everything below 50k.. Granted going from 50-100 its less of an effect but still less money at the end of it. 

  11. On 27/08/2021 at 12:29, Unmoderated said:

    Haha, it is possible but I was mid thirties and a super saver. I graduated with my student loan in my ISA (worked to fund uni and lived at home to save rent). Didn't do a gap-yah and all the other wanky stuff. No new cars, nothing on finance, not even a phone. Only debt is the mortgage. 

    Arguably others have had far more fun 'living for today' but I'm (finally) about to start the next step of my plan which is to renovate, extend, flip and repeat. Tax free gains to buy my house so I don't pay a penny as it were. 

    Just an average guy trying to be smart and beat the system. 

    Can I question you on this... I've recently undergone a similar thing with my house and was surprised to find it has almost doubled in value in five years.. What kind of returns from renovating per house are you even expecting in this current climate and future etc assuming all unspecialised work is done by yourself.. Wont associated moving costs eat into that significantly the higher up you go..? 

     

    Its always put me off because if I were buying a house seeing it had been bought a year before and on for 50-100k more id give it the swerve unless it was fairly new..

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