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TheCountOfNowhere

How To Survive The Final Phase Of Britain's Debt Crisis

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I wouldn't normally push this but everyone should watch this. If you thought you were being robbed...this shows how.

http://pro.moneyweek.com/myk-eob/LMYKQ405/?h=true

It's a great summary of what's happening...just ignore the advert at the end.

:lol:

For those thinking owning a house will be the way to protect your wealth....you're more likely to be a sitting suck for tax. You've already shown willing by paying a massive tax just to buy a house and you'll pay more when you move....ad infinitum. No wonder the government and their banker friends are pushing higher house prices...MORE TAX.

The only people not paying for the financial crisis are them that caused it.

Who do we vote for to change this ?

P.S. If anyone knows "

How To Survive The Final Phase Of Britain's Debt Crisis" can they let us all know ? Edited by TheCountOfNowhere

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See my above point

Having listened to that it makes me think the safest place to have your money is in a house of your own.

See my above point....they tax you to buy ( stamp duty/VAT)...they tax you to sell ( VAT and stamp duty on next home ) they tax you to live there ( Council tax is paid NET so is much higher than people think, my council tax is almost 1Months wage for the averge earner !!!! ).

Own a house...you are a sitting duck for taxation.

Own a BTL...you will be paying tax after tax after tax.....it's not your pension....it's there's !!!!!!

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Agree about BTL but the extra taxes you pay owning a house is more than offset by the rent you'd save. Cash or investments are also sitting ducks so perhaps just pick the one thing which might actually improve your life like a house where a landlord can't just turf you out on a whim.

One thing is certain, don't spend your life paying rent if you're a worker. Fair enough if you're looked after by the state, may as well spend everything you get to avoid government theft. If however you work hard for a living you need to one day get to the point where a landlord doesn't take half your pay. There may be good reason to hold off doing this for some time but it should be when rather than if IMHO.

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Agree about BTL but the extra taxes you pay owning a house is more than offset by the rent you'd save. Cash or investments are also sitting ducks so perhaps just pick the one thing which might actually improve your life like a house where a landlord can't just turf you out on a whim.

One thing is certain, don't spend your life paying rent if you're a worker. Fair enough if you're looked after by the state, may as well spend everything you get to avoid government theft. If however you work hard for a living you need to one day get to the point where a landlord doesn't take half your pay. There may be good reason to hold off doing this for some time but it should be when rather than if IMHO.

Please explain:

"pick the one thing which might actually improve your life like a house "

How does owning a depreciating asset in need of constant upkeep which probably has all your capital in and a sitting target for taxation improve your life ?

I'll tell you what would improve my life....LESS TAX....LESS GOVERNMENT INTRUSION/CONTROL into and of my life....SAFE/DEPENDABLE PENSION....ABility to move house/country for luck at the drop of a hat...a decent future/chance for my family that isn't dictated by what school they go to....Good Health....Happiness.

Owning a house isn't even to 10.

"One thing is certain, don't spend your life paying rent if you're a worker"

Take my case for instance...I pay rent around £850 pcm...to live in a house now valued at £350K, which would cost me over £2000 pcm in interest (lost or earned ) to buy and around £500K in total to purcahse.....With rents falling and properly prices dragging for decades to come then.so over 25 years this adds up to a profit of £350K as a renter...after 25 years that £350K house is not going to make me anything like that and yo u have all the liabilities of ownership and inability to be flexible .

Learn to add up dear boy, learn to add up.

Happiness is not buying someone else's dream but buying your own.

Edited by TheCountOfNowhere

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David Cameron: Taxes will rise unless we can raid bank accounts

Now I am scared....

http://www.telegraph.co.uk/finance/personalfinance/10819885/David-Cameron-Taxes-will-rise-unless-we-can-raid-bank-accounts.html

My best mate has biscuit tins full of crowns and scrap silver.

Other than his day to day needs, he is "recycling" his fiat as fast and hard as he can.

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Agree about BTL but the extra taxes you pay owning a house is more than offset by the rent you'd save. Cash or investments are also sitting ducks so perhaps just pick the one thing which might actually improve your life like a house where a landlord can't just turf you out on a whim.

One thing is certain, don't spend your life paying rent if you're a worker. Fair enough if you're looked after by the state, may as well spend everything you get to avoid government theft. If however you work hard for a living you need to one day get to the point where a landlord doesn't take half your pay. There may be good reason to hold off doing this for some time but it should be when rather than if IMHO.

My experience of renting so far is that less than a third is more realistic. Why not get to the point where you have savings/investments that allow you to live 2 or 4 or 10 years without working? The fastest way not to be able to do that is to have a massive interest bearing debt in a rising interest rate environment?

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David Cameron: Taxes will rise unless we can raid bank accounts

Now I am scared....

http://www.telegraph.co.uk/finance/personalfinance/10819885/David-Cameron-Taxes-will-rise-unless-we-can-raid-bank-accounts.html

Council Tax bailiffs have had the power to raid bank accounts for years, but they are not very good at doing it if you use different forms of your name, initials etc. and move money around a lot. HMRC probably have more resources available of course than a local council.

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Why are they so self-important that they blather on without saying anything in an mp3 rather than just using text like a sane publication?

Absolute ars3holes

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