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Even Tesco Workers Are Now Filling Their Boots With Btl

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Probably it will last a bit longer in bricks an mortar. I remember the couple who won a million and vowed to "spend spend spend". Two years later and it was all gone.

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yes, for many people, putting money out of reach is the only way of ensuring they don't spend it on tat

Yeah....they in that case may never be able to spend it.....not exactly instant access with guaranteed rate of return. ;)

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£250k or even £1m isn't a lot of money. It's capital, and you should spend the income from it (and not spend the capital). Growing the capital and income is the gold standard of wealth, so it can be passed down to the next generations (if you want to that is).

The lottery win. It just pushes your retirement age closer, as opposed to 67 years or what ever it will be for you. So you'll have that initial spending boom with post retirement, but then you live like a pauper as the fixed income does not keep up with inflation. Council tax, energy bills - everyone still has to pay it! Be sure to join the others when Tesco puts clearance stickers on the food.

Edited by 200p

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Holidays and BTL.The dreams of the masses.I know a few people who MEWed their right to buy houses up from a mortgage 15 years ago of £18k to £70k/£80k then lost their tax credits (children over 18) then lost their houses.They are now renting and feeding some BTL landlord.

I also know a few people who bought BTL houses for cash from their savings/redundancy/20% pension lump sum simply because they lost all trust in banks.They dont care if the house goes down in price,they simply feel safer having their cash in a house.

Thats probably what drove some of these ladies.Simply dont trust banks or the financial system.Browns regulation.

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Well my thoughts too, 250k isn't a lot, wouldn't even buy you a typical final salary pension on the open market enjoyed by the humblest clerk in the public sector, so they need a bit of context before blowing it on fast living.

As for joining the queue to get your favourite loaf of bread for the freezer at 10p as opposed to £1.75...well I'm still up for that whether my household balance sheet shows net assets of a million or zero.

Edited by crashmonitor

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Look even the shelf stackers at Tesco can do it ...quick before you miss the boat ...ever get the feeling someone's desperate to find the last greater fool

Anyone for a shoe shine operative?

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10580165.jpg

Are they taking money off someone, pretending to work then using it as a social event ?

This country has lost the idea of work !!!

Edited by TheCountOfNowhere

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Shoeshine moment. ;)

Yup, the lucky last 3rd class ticket buyers for RMS Titanic.

A while ago I was chatting to someone who volunteers at a council estate education/enterprise set-up. They told me that most of the people on the estate whether they have jobs (i.e. shelf stacker) or not they desperately want to be like "everyone else" and not be seen as being poor. Trouble is they might desire to look "middle class" (upper working / lower middle really) but don't actually think like them and it stands out like a sore thumb - although Hyacinth Bucket is an exaggerated caricature it's very close to the truth. One example is that apparently a cooperative of local food producers and some community leaders wanted to set-up a grocery store selling fresh, cheap and healthy food (on an estate in Bristol I think) - the locals protested that they want a Tescos.

This mentality translates to the lower working classes (supermarket workers are today's equivalent of mill workers). They see/hear about how "everybody" has a BTL and desperately want one as it's "easy money".

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