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scottbeard

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  1. A means-tested pension is a terrible idea. I'm sharing something that I fear may happen, not something that I want to happen. I would for sure resist it. However, it would be foolish to pretend it's not a risk.
  2. I don't think either of those things will happen. I think State Pension Age will eventually become 70, and that the pension may become partially means-tested (like JSA is).
  3. That's correct - and why I chose my example carefully. When the government switched to CARE the final salary historic part was preserved, but the future CARE part just gets worse and worse. That's correct if the below inflation increases persist all the way to retirement (although a different point to my point that DB is not necessarily always better than DC, because it depends on the generosity of benefits offered in each.)
  4. 1. Most financial advisers would not suggest being heavily invested in the stockmarket just as you approach retirement for exactly that reason. 2. Even if the market crashes you can still do income drawdown whilst it recovers (or indefinitely) 3. The idea that DB pensions (certainly those provided in the public sector) are "guaranteed" or "risk free" is a fallacy - I bet most civil servants thought that they were getting a pension payable from age 65 with RPI-linked increases, only to find the government has changed it to payable from 68 with CPI linked increases (overall about a 30% reduction in benefit, so akin to a stockmarket crash that never recovers). I wonder what their next change will be... So yes, I agree, on balance DB generally carries less risk for the employee than DC does for the same expected pension, but I think "DB good, DC bad" is a big oversimplification.
  5. Surely it depends entirely on the rate of DC contributions? If I was offered a DC scheme with a 25%-30% of salary contribution I would be tempted to take the DC. Of course at a more typical rate of 10% of salary the DB would be a no brainer.
  6. That's fair, but it probably made it longer so it did have an impact - all air travel was suspended for ages
  7. Something in the region of 2.5% to 5% is where interest rates have been for most of the last few hundred years
  8. And that's what I meant by the "(quite large) middle ground". Virtually everything from 10/90 one way to 90/10 the other way is usually quite reasonable. It's the 100/0 people ("cut all benefits to zero", "let all the banks just go bust" etc) who are usually off the mark.
  9. The media always sensationalizes everything, so no surprise they are sensationalizing COVID. Most of the actual government content is pretty dry - Chris Whitty would be right at home in a Public Information Film from 1953. I think the government are happy to scare people into compliance - there have been numerous examples over the years from drink driving films to warnings on cigarette packets. I don't really have a problem with that. But also be clear - scaring people into compliance is NOT coercion. Scare tactics is just "if you don't do it something bad might happen to you". Coercion is about using force and threats "if you don't do it you can't go clubbing/on holiday".
  10. Exactly so, and something you've helped me understand. Almost everything in life is at its best in the (quite large) middle ground, rather than at the edges. Without a bit of socialism we wouldn't have an NHS. Without a bit of capitalism we wouldn't have the industries that fund it.
  11. My first thought was "of course it's not normal" - but then the more I thought about it, the more it kind of seems EVERY recession or crash is triggered by something, and not always something economic - for example, 9/11. I guess the key question is - did it have the effect that recessions usually do have, i.e. poor firms going out of business, and the other business slowing down production to the point where it over-slowed and now ripe to roar back. Bearing in mind all the news stories are about price inflation, wage inflation, shortage of workers etc I'd say that sounds very much like early economic cycle. However, your opening point is also totally valid - I have long felt like we are in the 2008 crisis until such time as interest rates normalise.
  12. Jabs WERE votes for a while - but that’s done now. Young people aren’t going to vote Conservative because of jabs they were last in line for, and even less likely if their night out clubbing is ruined because their anti-vax mate Dave isn’t allowed in.
  13. That’s frustrating - I wonder if other banks will follow suit? I bank with another big bank and bought some crypto via Kraken this week without problems
  14. Why do you say that? Many transplant patients live for many years. Anyway, that straw man is only there to provoke an emotional response. There is no mathematical proof for what is ethically correct - I remain of the opinion that people should not be coerced or forced into medical procedures to benefit others. Yes governments do all sorts of nasty things - irrelevant, as I have said, to this question. Clubbing though is just the poster child for the wider debate - is having a "vaccine passport" for activities within your own nation state acceptable or unacceptable?
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