Tuesday, October 24, 2006

My Home is my Other Pension

My Home is my Other Pension say 7.6 million

...or my only pension as seems to be the current vogue amongst the financially illiterate. “Of course it can be difficult building up other savings while paying off your mortgage and also investing in a pension. But it is potentially risky to believe that your home will provide for your retirement if your pension is not sufficient."

Posted by doomwatch @ 02:54 PM (1937 views)
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4 thoughts on “My Home is my Other Pension

  • japanese uncle says:

    ‘Brick and mortar’ or ‘bleak and mortal’?

    Given such violent cyclicality of property market in the Anglo-American economies, how can you position your house at the core of your
    financial portfolio? What if the market happens to be killingly stagnant just at the time you retire? Behind every successful ‘property investor’ lies dozens of corpse lost in the battle of property investment. Only the former tends to be picked up by the media with flourish and trumpets, to induce those ignorant millions into the potential death traps. Basically the same appies to share investment unless you are extremely well informed about the inside/outside of the industries. It is a common knowledge that those who make money out of share investment are doing so by benefiting more or less from insider information, thus more or less illegal trading.

    We must create a society in which those who work and live honestly and save money in national savings or postal banks, can enjoy reasoable lifestyle.

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  • I prefer a society in which those with ambition and risk takers are rewared. Much less boring bunch of people than the national savings and postal banks lot.

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  • japanese uncle says:

    Society should not be designed to benefit risk-takers only. After all the majority of population cannot understand what ‘ambition and risk’ means. Still they must be entitled to a ‘reasonable’ life without the need to worry too much about the economic fluctuations. What New Labour is doing is exactly the opposite. Encouraging speculation and gamble (and 24 hr drinking and smoking cannabis), thereby bringing in maximum instability to this society. You can enjoy the benefit of your ambition and risk, but within obvious limitations.

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  • You gotta speculate to accumulate jap unc. And as for legalising cannabis.. Nothing beats taking a seat in my huge living room in my luxury 2 bedroom flat on a cold winters night in front of a cosy fire and lighting up a big doob. What is the alternative to instability in society? Stability you say.. at what cost would we have stability at.. maoism? communism?

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