Wankan Posted October 21, 2005 Share Posted October 21, 2005 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 . Quote Link to comment Share on other sites More sharing options...
Guest horace Posted October 21, 2005 Share Posted October 21, 2005 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 Quote Link to comment Share on other sites More sharing options...
Wankan Posted October 21, 2005 Author Share Posted October 21, 2005 (edited) 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 Very good :-) Edited October 21, 2005 by Wankan Quote Link to comment Share on other sites More sharing options...
Guest horace Posted October 21, 2005 Share Posted October 21, 2005 >>> *****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 Quote Link to comment Share on other sites More sharing options...
Wankan Posted October 21, 2005 Author Share Posted October 21, 2005 >>> *****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 Well it's good the F.S.A. aren't reading this Quote Link to comment Share on other sites More sharing options...
devils advocate Posted October 21, 2005 Share Posted October 21, 2005 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? Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted October 21, 2005 Share Posted October 21, 2005 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. Quote Link to comment Share on other sites More sharing options...
Wankan Posted October 22, 2005 Author Share Posted October 22, 2005 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 contributionsFrom 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 . Quote Link to comment Share on other sites More sharing options...
Hopeful FTB Posted October 22, 2005 Share Posted October 22, 2005 (edited) 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 October 22, 2005 by Hopeful FTB Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted October 22, 2005 Share Posted October 22, 2005 (edited) 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 October 22, 2005 by OzzMosiz Quote Link to comment Share on other sites More sharing options...
BandWagon Posted October 22, 2005 Share Posted October 22, 2005 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 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. Quote Link to comment Share on other sites More sharing options...
Wankan Posted October 22, 2005 Author Share Posted October 22, 2005 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) . Quote Link to comment Share on other sites More sharing options...
dogbox Posted October 22, 2005 Share Posted October 22, 2005 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. Quote Link to comment Share on other sites More sharing options...
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