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Wankan

You've Inherited £150,000 , Sipp Related

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Based on 2002 death stats there will be around 500,000 deaths of people aged over 45 in England and Wales creating inheritances of which around 79% will leave a house that on average will be worth around £180,000 .

Assuming they could be converted to cash for maybe £150,000 in a falling market , what would you do to invest the cash ??

Put it in a sipp ?

Sorry for banging on about this , it must be boring .

Um , I wonder whether banging is allowed or is it on the banned word list .

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Guest horace

Send the cash to me in a plain brown envelope.

I will take very, very good care of it until you need it.

You are my very, very best friend.

Lots of love

horace

xxx :D

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Send the cash to me in a plain brown envelope.

I will take very, very good care of it until you need it.

You are my very, very best friend.

Lots of love

horace

xxx :D

:D:lol::D

Very good :-)

Edited by Wankan

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Guest horace

>>> *****an

Don`t be flippant young man. Stick in dosh into the ol` brownie asp.

I promise to make you 20% , no 58% no 959% over night. All you have to do is put the ackers in

the proverbal `brownie`.

HURRY don`t miss the post.

Your very best friend

horace

xxx :D

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>>> *****an

Don`t be flippant young man. Stick in dosh into the ol` brownie asp.

I promise to make you 20% , no 58% no 959% over night. All you have to do is put the ackers in

the proverbal `brownie`.

HURRY don`t miss the post.

Your very best friend

horace

xxx :D

Well it's good the F.S.A. aren't reading this B)

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Assuming they could be converted to cash for maybe £150,000 in a falling market , what would you do to invest the cash ??

Put it in a sipp ?

Absolutely not!!!!

If anyone actually knows about SIPPs they will realise that you are still very limited with what you can do with the funds. For example, [i believe] as the rules currently stand, for the amount that you have left after taking out the maximum cash sum, you have to buy an annuity when you reach 75. Pop your clogs at 76, and the insurance co who was paying your short term annuity pockets the rest of your cash.

Or would you rather keep the cash in cash?

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All you'll be able to put in the SIPP is your gross salary (I'm assuming less than 180k).

There is no point puttin the cash in the SIPP even if you coul das there would be no tax repayable on it. To get Gordie to contribute you must put in taxed money, the higher the taxed the better. Put in your wage and live off the £180k.

If you could shoe horn the £180k in, at retirement the draw-downs needed to produce retirement income would be taxed at your marginal rate. That's like having to pay income tax everytime you take money outta the bank. It maketh no sense to go that route.

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All you'll be able to put in the SIPP is your gross salary (I'm assuming less than 180k).

Great , thanks . Do you have a link to a reliable source please ?

This lot at http://www.pkf.co.uk/web/pkf800.nsf/pagesB...DF?OpenDocument

say this :

Annual contributions

From 2006/07, annual contributions of up to £215,000 per individual will qualify for tax relief; this amount will be increased annually to reach £255,000 in 2010/11. The maximum applies to the total of both an individual's contributions (at up to 100% of relevant earnings) and employer's contributions. Excess contributions made by an individual (over 100% of earnings) will not qualify for tax relief and excess contributions over £215,000 (where an employer makes contributions) will be taxable on the employee. Any tax due will be paid through the individual's self-assessment tax return.

What do they mean by Excess contributions made by an individual (over 100% of earnings) ?

Seems to imply one can chuck in up to £215k but only get tax refunds on your maximim income ie tax paid on salary of say £25k a year .

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Well, I wouldnt invest it in property at the moment!

Stuff SIPPS - I would sit on it and use the interest on 150k to pay the rent on a rental place until it was resonable to buy a place outright when this crazy, stupid, overpriced market has calmed down a lot!

Sorry!

<_<

Edited by Hopeful FTB

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OH please shut up morons. Everyone knows SIPPS will make anyone a million-yare!

Christ!! Keep harping on about how SIPPS are rubbish. Its bull....

Its BULL alright!! ;)

*editted for drunken spellnig ;)

Edited by OzzMosiz

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Send the cash to me in a plain brown envelope.

I will take very, very good care of it until you need it.

You are my very, very best friend.

Lots of love

horace

xxx :D

I have a new friend who is a lawyer in Nigeria.

He says he needs the money to help the poor Prince who has been deposed to get back his crown.

Lend me the money, I'll pass it on, and when the Prince is back in power we will live in luxury for the rest of our lives.

Hope this letter finds you in best health

BW.

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Well, I wouldnt invest it in property at the moment!

Stuff SIPPS - I would sit on it and use the interest on 150k to pay the rent on a rental place until it was resonable to buy a place outright when this crazy, stupid, overpriced market has calmed down a lot!

Sorry!

<_<

Nuffin to be sorry for :) , I ain't trying to sell anything . Just interested and trying to learn . What you suggest is effectively what I'm currently doing (apart from I don't pay rent) .

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Keep £50000 in cash and use the rest to make a few investments abroad. Germany, Morrocco, North East Brazil, Poland, Slovakia (not the capital but somewhere touristic). I might even take a punt with up to £10000 in Africa, perhaps Botswana. Always get a city lawyer that charges lots.

All this takes a bit of work but you'll be glad in 10 years. Work on a capital gain of about 10x the amount invested after 10 years, AS LONG AS YOU BUY WHERE OTHERS ARENT. In other words lead the crowd, dont follow it to Bulgaria or Florida.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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