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R K

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Everything posted by R K

  1. Yes agree with all of that especially the "window" between 55/58 & state pension age. But youre not on avg wages (OP's contention).
  2. Supplementary post re SIPP savings/investment & tax efficiency (didnt want to make above post too long & it is a different issue):- Current rules allow for drawdown at 55 but this is increasing to 58 as state pension age increases. Assuming max 35 years state pension of £8,000 (taxable) & tax free personal allowance of £12,000 this means only £4,000 SIPP income can be taken tax free. Remainder is taxable. So it is worth bearing in mind that for anyone shovveling savings into SIPPs even at a natural yield drawdown rate (i.e. FTSE yield for instance) they will be paying income tax of at least basic rate on at least part of that income. For obvious reasons then a SIPP cannot be used to save for your "house" money since you will be taxed at your marginal rate (even if FIREd) if/when you withdraw it. If you have significant savings in a SIPP it is perversely quite difficult accessing them without a tax penalty (as Im sure Mr Osborne was perfectly aware of when he designed the flexible benefits rules)
  3. There is an obvious disconnect though in your "average" numbers. This is not a criticism of your or anyone elses personal desire to FIRE but it is clearly not possible in the terms you describe for someone on "average" earnings as stated. A couple of observations:- 1. 40 years x £26,000 = £1,040,000 gross lifetime earnings. 2. Income taxes 3. Rent or mortgage 4. Living costs during working life FIRE is only possible if you are earning very significantly > average earnings In your example you completely discount the single most stable retirement income for most people on average earnings:- The state pension. In your own terms at £8,000 (35 years) / 3.2% discount rate = £250,000 Moreoever it is inflation/wage & most importantly life expectancy protected. i.e. it will last as long as you will. Finally, there seems little point in conflating "avg house price" with "avg earnings" since it should be very obvious that no-one on avg earnings can buy an avg priced house on their own for reasons discussed on many other threads. So I am all for FIRE, this thread & discussing ways to achieve it but to be fair to anyone on avg earnings it needs to be stated it is impossible (on the terms you have described). I feel sure you must be aware of this.
  4. Samuel Tombs ‏@samueltombs 3. Europhile regions of the U.K. have seen bigger increases in the size of the electorate than Eurosceptic areas
  5. FT Markets ‏@FTMarkets Sterling hits highest level of the year http://on.ft.com/28QQ0XB
  6. Gregory Daco ‏@GregDaco Positive news from [email protected] on wage grwth: "Job-stayers" +3% y/y & "job-switchers" +4.3% - back to pre-recession
  7. So if sterling savings are to be devalued & you dont see financial assets as a hedge what else did you have in mind?
  8. Seems to have been a fair bit of re-positioning last few days. Im waiting for the vote to be out of the way and will then look to buy the next volatility dip if it is significant - Probably around next FED mtg I would guess. Assuming a Bremain outcome it will probably tick up for a week or two in the interim as re-positioning unfolds & Brexit DOOM receeds.
  9. Well the problem then was the overleveraged banking system & credit spreads > frozen credit system & recession > unemployment > temporary fall in prices Not really issues for London market today.
  10. Theyre closing them down. Too late. My partner has one. Tis quite cool.
  11. Mods appear to have deleted the disgraceful post, nonetheless Zugzwang youve sadly ended up on my blocked list. Lets hope we can soon get back to discussing the "economy & house prices"
  12. Well now you're simply changing your data selection to suit your agenda (whatever that may be) You post nominal linear debt charts and per capita real output charts and worst of all you do it with intent all you are doing is undermining your own credibility
  13. A bank, in essence, is little more than a secure repository of ledgers. A banking system is thus little more than an interconnected network of ledgers.
  14. He sold them all in 2014. From memory he lost around £300m on Tesco
  15. Bank of England ‏@bankofengland Bank of England proud to partner with @PwC_UK on its first distributed ledger proof of concept http://ow.ly/2Tqh301me0b #FinTech Now it starts to get interesting..... http://www.bankofengland.co.uk/Pages/fintech/default.aspx
  16. ? It really did take off. It hit $1900 at the bubble peak before collapsing in on itself, as all bubbles do. Silver ditto $49 bubble top back down to low $teens.
  17. Buckles up for the next DOOM laden deflationary collapse TEOTWAKNI media panic.......ah well, another buying opportunity comin up A Evans-Pritchard ‏@AmbroseEP First down to clear the seasonal crude glut, then up. Bank of America's oil sketch this morning
  18. So not Japan then. Mohamed A. El-Erian ‏@elerianm In this article, the @WSJ compares US #economic performance to other advanced economies. http://blogs.wsj.com/economics/2016/06/16/the-u-s-economy-is-in-great-shape-compared-to-its-peers/ …
  19. Propaganda works. Not least with people with mental health issues, which as it turns out, seems to be prevalent in people committing violent acts.
  20. Not a fan of Brown (or most politicians frankly) but this complete & utter tripe is indicative of how far this site has moved from the once excellent source of information, thought & discussion on house prices & the economy. I know its utter tripe but I would imagine many casual readers may think this sort of stuff to be true. A great shame this is the level of "discussion" now rife on here.
  21. or more likely a really rather good indicator since US isnt in recession (and isnt Japan) In 2009/10 everyone was posting charts of Japans stock market and telling us in very serious tones about how US stock market would inevitably follow Japan. It didnt. They quietly stopped. Next up it is yield curves and "imminent recession" (for at least last 3 years). Same people. Wrong again. If you look at all the NIRP bonds apart from Japan they are basically due to monetary & fiscal imbalances in EZ caused by germany & peripheral European tails being wagged by EZ dog. i.e. political choices.
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