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RichM

Houses That Won't Find A Home In A Pension Fund

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Houses that won't find a home in a pension fund

Quite a laugh reading this article.

Twice people talk about saving for retirement as becomnig "exciting" with SIPPS - build a flaming rollercoaster if you excitement mate, saving is meant to be dull, surely...

But in this column the Torygraph agrees that ditching SIPPS was a good idea:

Comment: Brown was right to make a U-turn on Sipps

Unregulated property developers and estate agents have been promoting schemes highlighting the tax breaks available from property investments – particularly those overseas – made through a Sipp.

Mis-selling was being mooted before the event. Several Sipp providers had already raised concerns about accepting "exotica" because there would have been no comeback had an investor been duped by a scam.

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Jonathan Izard, 51, who had been planning to buy a property through a pension, says: "For the first time I had got my head around pensions and decided to do something for my retirement. But now pensions are dull again and I am back to square one."

Translation: "I thought I was going to get massive amounts of free money from the government, and massive amounts of free money from house prices going up forever and ever and ever. But now it looks like I won't be able to sit on my fat @rse and leech off the productive members of society, I feel used and dirty. What a con."

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Houses that won't find a home in a pension fund

Quite a laugh reading this article.

Twice people talk about saving for retirement as becomnig "exciting" with SIPPS - build a flaming rollercoaster if you excitement mate, saving is meant to be dull, surely...

But in this column the Torygraph agrees that ditching SIPPS was a good idea:

Comment: Brown was right to make a U-turn on Sipps

Yes this article was in Sunday's paper. Particularly amused that Mr Richard Berridge "a property consultant" who had put down a 10% deposit on a £200k flat in South London has now decided that "I am totally turned off pensions". Some property consultant - commercial property has been a stellar performer for the last 10 years and has been available with tax relief and real gearing in a SSAS or in collectives elsewhere. Or should I have read "estate agent" or "amateur developer" for "property consultant".

Also read elsewhere of a senior manager at Legal and General had got on the wrong side of this. A truly terrifying prospect when you consider the entire (legit) financial advice industry knew these "proposals" were just that. Admittedly most of us expected HMRC to make it so fiscally unattractive that no-one would want to do it rather than pull it completely but you still don't commit unless you are blinded by greed and your own arrogance.

Also can't understand why anyone would want to appear in a national newspaper having made such an unholy fu*k-up of one's finances? Personally I would be keeping a very low profile - my colleagues and friends would quite rightly rip me to pieces in the same way they would if I was stupid enough to turn up at work sporting a moustache.

The Fox

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Translation: "I thought I was going to get massive amounts of free money from the government, and massive amounts of free money from house prices going up forever and ever and ever. But now it looks like I won't be able to sit on my fat @rse and leech off the productive members of society, I feel used and dirty. What a con."

:lol::lol::lol:

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  • 302 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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