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politicalbetting.com » Blog Archive » How George Osborne is hoping to raid pension pots without y

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  • Morris_DancerMorris_Dancer Posts: 62,138
    Good afternoon, everyone.

    FPT: Mr. Herdson, that's a shade misleading by omission of detail.

    I don't think you should be bethwacked with enormo-haddock for wanting a federal system. I want a federal system.

    I disagree with you vehemently on carving England up into pieces. It wasn't done for Scotland. It wasn't done for Wales. It wasn't done for Northern Ireland.
  • kle4kle4 Posts: 97,052
    If he doesn't do this, how else is he intending to try to meet his deficit targets?
  • Plato_SaysPlato_Says Posts: 11,822
    http://www.telegraph.co.uk/news/nhs/11887308/How-much-are-junior-doctors-paid-and-why-are-they-threatening-to-strike.html
    Trainee doctors currently have a starting salary of £22,636 - at Foundation Year 1 (F1) - rising with experience to reach £30,000 within four years. Doctors in specialist training (ST) receive a salary of between £30,002 and £47,175, while those who make the grade can earn up to £69,325. You don't just walk off the street to start as a a trainee doctor either, as they are expected to have a medical degree, which can take between five to six years to get.

    Junior doctors enjoy a boost to their salary thanks to a complex system of supplements. This means they can earn on average £40,000 in the initial stages of training, according to the Department of Health's estimates, and £56,000 in the later stages.
  • tysontyson Posts: 6,120
    Power and gross hypocrisy are happy bedfellows. Anyone who seeks power willingly should automatically be disqualified from attaining it.

    Excellent piece Mr Meeks, the smoke and mirrors of Osborne is unravelling.

    I picked up on a post from the last thread that Danczuk was paid £5k by a national paper to talk about the tèxt messages he sent to a 17 year old. On every level I find this extraordinary, the standard of people we have in public life is dreadful, yet people continue to vote for them.

    I don't expect politicians to live like monks but for crying out loud look at this man's back story, this phucking idiot passes laws.

    'twas ever thus. Most of the famed orators of Athens were, in point of fact, venal scumbags who treated the city as a chew toy.
  • Richard_TyndallRichard_Tyndall Posts: 32,739
    tyson said:

    Re; taxes, I was just having a conversation with a friend- some years ago as I got extra cash coming in, I struggled with paying the additional taxes, and looked for ways to reduce paying it. But now, I find it easy to pay without even bothering to look at reduction strategies- it is money that I owe on income that I have earned. The more I pay, the more income I have earned- so a win win scenario. And there are few of these in life.

    I kind of think it is the same mentality as buying a better bottle of wine at a restaurant. Initially, I always looked for the house wine, or the next one up- but now I look for a decent bottle, and pay. I wouldn't pay for it if I could afford it, but because I can, I pay for it and enjoy it. Again a win win- for me and the restaurant.

    Bottom line is pay your taxes. And the more tax you pay, the better it is for you because the more money you have earned.

    I would generally agree with that with two provisos. First as I say I object to paying tax before I have earned the income. Secondly I object to the overall amount of tax we all have to pay. Using your analogy I feel we are paying for a bottle of 1982 St Julien and getting a bottle of house red.
  • richardDoddrichardDodd Posts: 5,472
    Sandpit I hope Dr Yannis is going to stand by the patients who need him on strike days..I somehow doubt it
  • Scott_PScott_P Posts: 51,453

    Secondly I object to the overall amount of tax we all have to pay. Using your analogy I feel we are paying for a bottle of 1982 St Julien and getting a bottle of house red.

    And some would say the difference is being used to offer free Prosecco to the table next door...
  • AndyJSAndyJS Posts: 29,395
    "Brussels bureaucrats were today accused of endangering the lives of air passengers after they blocked the public’s right to access aircraft safety records.
    Aviation experts claimed the European Union was quietly introducing ‘gagging orders’ to protect the reputations of airlines and manufacturers flying and making substandard aircraft at the expense of public safety.
    Draconian secrecy rules brought into force by Eurocrats have banned the UK’s Civil Aviation Authority (CAA) from releasing details of incidents including collisions on runways or onboard fires."


    http://www.dailymail.co.uk/news/article-3390556/Runway-accidents-board-fires-mid-air-safety-dramas-kept-secret-draconian-EU-plans-block-access-aircraft-safety-records.html
  • rottenboroughrottenborough Posts: 63,832
    Interesting article. Although it strikes me that on balance, the changes Alastair is talking about would fall into the "brave, Minister, brave" category.
  • firstlight40firstlight40 Posts: 69
    Thanks for the article and the warning. I plan to push a big lump sum into my pension this financial year using up previous year allowances, the side benefit being to negate the higher rate child tax benefit - so my tax relief is somewhere near 70% not 40%...
  • tysontyson Posts: 6,120
    I agree with you on paying taxes for income you have not yet earned. It rankles me too. The best tax returns are undoubtedly those where our friends at HMCR have underscored it- and you need to top up instead of those where you try to wrestle back money where you have paid too much. The former means you the year has gone better for you than planned, the latter worse.

    OK Richard- if you thought you were paying for a 2007 Brunello- the best wine I have ever drunk, or a 1982 St Julien- I don't know it, but it sounds rather lovely- would you be happy to pay more tax?

    I think the problem for us in the UK is that we all want the Brunello, or the St Julien- but we only want to pay a tenner for it.

    tyson said:

    Re; taxes, I was just having a conversation with a friend- some years ago as I got extra cash coming in, I struggled with paying the additional taxes, and looked for ways to reduce paying it. But now, I find it easy to pay without even bothering to look at reduction strategies- it is money that I owe on income that I have earned. The more I pay, the more income I have earned- so a win win scenario. And there are few of these in life.

    I kind of think it is the same mentality as buying a better bottle of wine at a restaurant. Initially, I always looked for the house wine, or the next one up- but now I look for a decent bottle, and pay. I wouldn't pay for it if I could afford it, but because I can, I pay for it and enjoy it. Again a win win- for me and the restaurant.

    Bottom line is pay your taxes. And the more tax you pay, the better it is for you because the more money you have earned.

    I would generally agree with that with two provisos. First as I say I object to paying tax before I have earned the income. Secondly I object to the overall amount of tax we all have to pay. Using your analogy I feel we are paying for a bottle of 1982 St Julien and getting a bottle of house red.
  • Plato_SaysPlato_Says Posts: 11,822
    Epic man management http://www.independent.co.uk/news/uk/politics/tom-watson-labour-deputy-leader-not-consulted-about-plan-to-sack-shadow-culture-minister-michael-a6803251.html
    Labour’s deputy leader Tom Watson was not consulted about a decision to sack one of his key political allies in Jeremy Corbyn’s first shadow cabinet reshuffle.

    Labour’s deputy leader only found out on 3 January that Mr Corbyn was planning to change his top team at all.

    While Mr Corbyn was under no obligation to talk to Mr Watson about his plans some in the party have expressed surprise that he was not consulted in advance about the changes.
  • Plato_SaysPlato_Says Posts: 11,822
    Greg Hands
    Taken over by hard core Leftists and unable to do proper Opposition, Labour MPs today reduced to tweeting rock band Squeeze's protest lyrics
  • FrancisUrquhartFrancisUrquhart Posts: 82,624
    edited 2016 10

    Greg Hands
    Taken over by hard core Leftists and unable to do proper Opposition, Labour MPs today reduced to tweeting rock band Squeeze's protest lyrics

    I always think these kind of stunts are pretty pathetic, just like chucking an egg over Mandelson or Miliband. It is all very childish. It doesn't allow for debate or conversation. Oh look at me aren't I so clever I "got" a politician when he couldn't answer back. It makes a cheap headline and...

    Much more respect for like Lumley who saw what she thought was an injustice and campaigned on it without egg throwing. Even Jamie Oliver (although there was always a tv programme attached some where).
  • SandpitSandpit Posts: 55,932
    edited 2016 10
    AndyJS said:

    "Brussels bureaucrats were today accused of endangering the lives of air passengers after they blocked the public’s right to access aircraft safety records.
    Aviation experts claimed the European Union was quietly introducing ‘gagging orders’ to protect the reputations of airlines and manufacturers flying and making substandard aircraft at the expense of public safety.
    Draconian secrecy rules brought into force by Eurocrats have banned the UK’s Civil Aviation Authority (CAA) from releasing details of incidents including collisions on runways or onboard fires."


    http://www.dailymail.co.uk/news/article-3390556/Runway-accidents-board-fires-mid-air-safety-dramas-kept-secret-draconian-EU-plans-block-access-aircraft-safety-records.html

    There's more to that story than might be clear from the Mail's reporting of it. The data which is being kept "secret" is data collected under the MOR system, by which those involved in aviation are encouraged to report minor incidents such that the industry can learn from them. The Mail would love this data for their crap reporting of aviation matters, as it would let them portray the airlines who are most likely to report minor incidents as somehow being the most "dangerous".

    As is mentioned in one line of that article, major incidents and accidents are investigated by the AAIB, a different department, and they will continue to publish their reports publicly. Collisions on runways, or onboard fires of anything more than a cigarette or serviette would certainly come under the AAIB's remit.
  • tysontyson Posts: 6,120
    It doesn't sound like you are skint. As I said before, if you can afford it, why don't you just pay your taxes in a straightforward fashion and pay a few extra quid? Planning how you can reduce them becomes a burden in itself.

    Tax relief, credits etc... should only be targeted at poor people, not at people who can afford to pay their taxes.

    Thanks for the article and the warning. I plan to push a big lump sum into my pension this financial year using up previous year allowances, the side benefit being to negate the higher rate child tax benefit - so my tax relief is somewhere near 70% not 40%...

  • rottenboroughrottenborough Posts: 63,832
    Interesting article on the positions of Cameron and Corbyn with respect to their parties:

    http://www.telegraph.co.uk/news/newstopics/eureferendum/12091283/David-Cameron-has-an-ace-to-play-when-he-meets-EU-leaders-his-own-Cabinet.html

    "the socialist revival led by Jeremy is really nothing more than a north London party game. And if they do, then it is the Brownites – who are at least competent bullies – to whom they will turn."

    This fits with my current thinking: something has to give before 2020 and anti-Corybynites have little to lose. It may come sooner than many of us expect - given UNITE and GMB opposition to the plan to make Labour anti-Trident renewal. The men in boiler suits await.
  • TheWhiteRabbitTheWhiteRabbit Posts: 12,454

    tyson said:

    Re; taxes, I was just having a conversation with a friend- some years ago as I got extra cash coming in, I struggled with paying the additional taxes, and looked for ways to reduce paying it. But now, I find it easy to pay without even bothering to look at reduction strategies- it is money that I owe on income that I have earned. The more I pay, the more income I have earned- so a win win scenario. And there are few of these in life.

    I kind of think it is the same mentality as buying a better bottle of wine at a restaurant. Initially, I always looked for the house wine, or the next one up- but now I look for a decent bottle, and pay. I wouldn't pay for it if I could afford it, but because I can, I pay for it and enjoy it. Again a win win- for me and the restaurant.

    Bottom line is pay your taxes. And the more tax you pay, the better it is for you because the more money you have earned.

    I would generally agree with that with two provisos. First as I say I object to paying tax before I have earned the income. Secondly I object to the overall amount of tax we all have to pay. Using your analogy I feel we are paying for a bottle of 1982 St Julien and getting a bottle of house red.
    Richard - do you think that the state is inefficient in the delivery of services (i.e. unintended outcomes), or do you think you consider some intended outcomes as less valuable than others see them?
  • TheuniondivvieTheuniondivvie Posts: 42,551


    The £100 billion is for a 40 year life time, complete with vast numbers for overruns.

    The Chairman of the House of Commons Foreign Affairs Select Committee thinks it will be £160 billion. I would happily put a (very long term) bet on it being more than that if renewal goes ahead as proposed.

    http://tinyurl.com/gpth76y

  • tysontyson Posts: 6,120
    I tell you, when the time comes there are going to be a heck of a lot of Labour MP's cheerfully driving their knives into Corbyn's back. I think Watson will have the biggest smile on his face mind and his knife will be a 12 inch cleaver.

    Epic man management http://www.independent.co.uk/news/uk/politics/tom-watson-labour-deputy-leader-not-consulted-about-plan-to-sack-shadow-culture-minister-michael-a6803251.html

    Labour’s deputy leader Tom Watson was not consulted about a decision to sack one of his key political allies in Jeremy Corbyn’s first shadow cabinet reshuffle.

    Labour’s deputy leader only found out on 3 January that Mr Corbyn was planning to change his top team at all.

    While Mr Corbyn was under no obligation to talk to Mr Watson about his plans some in the party have expressed surprise that he was not consulted in advance about the changes.
  • FrancisUrquhartFrancisUrquhart Posts: 82,624
    edited 2016 10
    I can't quite get my head around this story...

    http://www.bbc.com/news/world-us-canada-35276894

    The guy he went to meet isn't exactly "Mr Nice" i.e Howard Marks. He has blood of 1000's on his hands.
  • Morris_DancerMorris_Dancer Posts: 62,138
    Mr. Urquhart, Penn's a ****. Last time I remember him entering the political sphere was when he was bleating about the Falklands belonging to Argentina.
  • tysontyson Posts: 6,120
    Hasn't he broken some crime? Surely they must be able to throw something against Penn. He bloody well deserves it.

    I can't quite get my head around this story...

    http://www.bbc.com/news/world-us-canada-35276894

    The guy he went to meet isn't exactly "Mr Nice" i.e Howard Marks. He has blood of 1000's of his hands.

  • NickPalmerNickPalmer Posts: 21,598
    Do you see it being phased in gradually? What about existing pensioners who didn't pay tax on earnings - do they suddenly go tax free? They'll be thrilled to bits, and they vote. Would Osborne be willing to waive logic in order to get a swathe of fanatical grey supporters?
  • Richard_TyndallRichard_Tyndall Posts: 32,739
    tyson said:

    I agree with you on paying taxes for income you have not yet earned. It rankles me too. The best tax returns are undoubtedly those where our friends at HMCR have underscored it- and you need to top up instead of those where you try to wrestle back money where you have paid too much. The former means you the year has gone better for you than planned, the latter worse.

    OK Richard- if you thought you were paying for a 2007 Brunello- the best wine I have ever drunk, or a 1982 St Julien- I don't know it, but it sounds rather lovely- would you be happy to pay more tax?

    I think the problem for us in the UK is that we all want the Brunello, or the St Julien- but we only want to pay a tenner for it.


    I think I am probably in the minority but as far as tax is concerned I would be very happy with paying for and getting the house wine at the restaurant. To continue the, perhaps rather strained, analogy I could then go and buy my own bottle of Brunello and would almost certainly get it cheaper than it was being offered by the restaurant.
  • PongPong Posts: 4,693
    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.
  • SouthamObserverSouthamObserver Posts: 39,842

    Do you see it being phased in gradually? What about existing pensioners who didn't pay tax on earnings - do they suddenly go tax free? They'll be thrilled to bits, and they vote. Would Osborne be willing to waive logic in order to get a swathe of fanatical grey supporters?

    I think we all know the answer to that one :-)

    Osborne knows and looks after his client vote very carefully. He needs them until 2025. After that it's someone else's problem.

  • AlastairMeeksAlastairMeeks Posts: 30,340

    Do you see it being phased in gradually? What about existing pensioners who didn't pay tax on earnings - do they suddenly go tax free? They'll be thrilled to bits, and they vote. Would Osborne be willing to waive logic in order to get a swathe of fanatical grey supporters?

    That would cost too much, whatever the electoral temptations, I think.
  • Richard_TyndallRichard_Tyndall Posts: 32,739

    tyson said:

    Re; taxes, I was just having a conversation with a friend- some years ago as I got extra cash coming in, I struggled with paying the additional taxes, and looked for ways to reduce paying it. But now, I find it easy to pay without even bothering to look at reduction strategies- it is money that I owe on income that I have earned. The more I pay, the more income I have earned- so a win win scenario. And there are few of these in life.

    I kind of think it is the same mentality as buying a better bottle of wine at a restaurant. Initially, I always looked for the house wine, or the next one up- but now I look for a decent bottle, and pay. I wouldn't pay for it if I could afford it, but because I can, I pay for it and enjoy it. Again a win win- for me and the restaurant.

    Bottom line is pay your taxes. And the more tax you pay, the better it is for you because the more money you have earned.

    I would generally agree with that with two provisos. First as I say I object to paying tax before I have earned the income. Secondly I object to the overall amount of tax we all have to pay. Using your analogy I feel we are paying for a bottle of 1982 St Julien and getting a bottle of house red.
    Richard - do you think that the state is inefficient in the delivery of services (i.e. unintended outcomes), or do you think you consider some intended outcomes as less valuable than others see them?
    A combination of both. I am an openly small state Libertarian. I believe the state has a role to play in the provision and enforcement of a framework, rules and guidelines within which life, business and commerce can operate. This is in addition to the big ticket issues like defence and foreign policy. But I also believe that much of what government does is either inefficient or unnecessary.
  • Plato_SaysPlato_Says Posts: 11,822
    Hmm http://www.breitbart.com/london/2016/01/10/only-ten-percent-of-migrant-influx-has-reached-us-so-far-says-german-minister/
    Europe has barely even seen the start of the migrant influx, Germany’s Development Minister has warned.

    Gerd Müller said only 10 per cent of Syrian and Iraqi migrants have reached Europe so far and “eight to ten million are still on the way”, with even more to come from Africa.

    “The biggest movements are ahead: Africa’s population will double in the coming decades,” he told Bild am Sonntag, adding: “In the Sahara up to one million people have died trying to escape.”

    The European Commission, he added, has lost a significant amount of authority thanks to the crisis. “The protection of external borders is not working. Schengen has collapsed. A fair distribution of refugees has n
  • SquareRootSquareRoot Posts: 7,095
    edited 2016 10

    Do you see it being phased in gradually? What about existing pensioners who didn't pay tax on earnings - do they suddenly go tax free? They'll be thrilled to bits, and they vote. Would Osborne be willing to waive logic in order to get a swathe of fanatical grey supporters?

    I think you know only too well that the odds on any Chancellor suddenly going to make pensions in payment tax free is about zero ?. Its absolutely unaffordable... and I think you know that only too well.
  • Plato_SaysPlato_Says Posts: 11,822
    I wouldnt bet on his life expectancy right now.

    Mr. Urquhart, Penn's a ****. Last time I remember him entering the political sphere was when he was bleating about the Falklands belonging to Argentina.

  • MarkHopkinsMarkHopkins Posts: 5,584
    Pong said:

    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.

    Then vote Leave in the referendum. We will be able to get immigration under control. And house prices will be better.
  • kle4kle4 Posts: 97,052
    edited 2016 10

    Mr. Urquhart, Penn's a ****. Last time I remember him entering the political sphere was when he was bleating about the Falklands belonging to Argentina.

    He's a very stereotypical type of celebrity, one who thinks he has amazing insights and solidarity with moral causes, as he sees it, when in truth he's an at best average person, and more likely uninformed and a bit dim, but no one dares to tell him.
  • FrancisUrquhartFrancisUrquhart Posts: 82,624
    edited 2016 10
    SeanT said:

    Apparently what happened in Cologne and Hamburg and Bielefeld, and nearly in Helsinki, Zurich etc, actually has a name,.

    Taharrush.

    Yes. Taharrush. When gangs of Muslim men organise to molest, grope, humiliate, terrify and then finally rape women in public spaces.


    http://www.breitbart.com/london/2016/01/10/german-authorities-fear-repeat-of-cologne-as-taharrush-comes-to-europe/

    Coming soon to a town square near you, courtesy of Ms Merkel, and the European Left.

    BUT BUT BUT BUT .... scream the BBC today....the fear, the fear, the fear of reprisals AND AND AND AND this is what ISIS want....but no mention the nutter in Paris the other day came via Germany refugee centre.
  • Scott_PScott_P Posts: 51,453
    @GlasgowMurphy: The struggle takes many forms... https://t.co/h4EeARETSp
  • TCPoliticalBettingTCPoliticalBetting Posts: 10,819

    Pong said:

    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.

    Then vote Leave in the referendum. We will be able to get immigration under control. And house prices will be better.
    Far too sensible a suggestion.
  • John_MJohn_M Posts: 7,503
    Pong said:

    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.

    More accurately, it's a combination of poor house building starts (for decades across all governments), unprecedented levels of net immigration and the rise of the singleton 'family'.
  • John_MJohn_M Posts: 7,503
    edited 2016 10
    Heh, cocked up the last post.

    image

    This is, I assert the proximate cause of rising housing costs. The reasons why are (duh) more complex. Sorry the graph isn't more up to date.
  • Plato_SaysPlato_Says Posts: 11,822
    One for @Morris_Dancer

    Police called as blind footballers & Morris men brawl after "misunderstanding over bells" https://t.co/1xVqAZtpB1 https://t.co/H3Wlj0EIbO
  • FrancisUrquhartFrancisUrquhart Posts: 82,624
    edited 2016 10
    John_M said:

    Pong said:

    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.

    More accurately, it's a combination of poor house building starts (for decades across all governments), unprecedented levels of net immigration and the rise of the singleton 'family'.
    I would be interested to also know the ratio of say 1-2 bed flats vs larger homes. For the housebuilders they can get more on the $, but obviously it is less people / house, so per new house would be contributing less to reducing the problem.
  • Morris_DancerMorris_Dancer Posts: 62,138
    Miss Plato, a deeply regrettable incident.
  • madasafishmadasafish Posts: 659

    Pong said:

    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.

    Then vote Leave in the referendum. We will be able to get immigration under control. And house prices will be better.
    We can control immigration now. Prevent the 100k or so Commonwealth immigrants now.

    Of course, it would destroy the Commonwealth.
  • Plato_SaysPlato_Says Posts: 11,822
    Could UKIP take almost a sixth of all seats in the Welsh Assembly elections? An interesting article https://t.co/JXSQWHjnOA
  • Morris_DancerMorris_Dancer Posts: 62,138
    Championship-winning contender for the 'best' so-called Stage III line. Click the line and (if you don't want to listen to the whole thing), go to 5:40:
    http://www.bbc.co.uk/programmes/p03f257s
  • flightpath01flightpath01 Posts: 4,903
    edited 2016 10

    Do you see it being phased in gradually? What about existing pensioners who didn't pay tax on earnings - do they suddenly go tax free? They'll be thrilled to bits, and they vote. Would Osborne be willing to waive logic in order to get a swathe of fanatical grey supporters?

    I think you know only too well that the odds on any Chancellor suddenly going to make pensions in payment tax free is about zero ?. Its absolutely unaffordable... and I think you know that only too well.
    What the net benefit or cost is I do not know, but I would have thought the current position would be frozen and the changes phased. Given the changes in lump sum rules it may be a good change to the tax regime. No doubt the issue will be well discussed in due time. The thread headline seems a bit shall we say emotive because the article seems more balanced in suggesting the changes might be plausible.
    If I read it right it brings taxation and thus revenues forward which suits the current state of the nations finances.
  • MattWMattW Posts: 24,779

    One for @Morris_Dancer

    Police called as blind footballers & Morris men brawl after "misunderstanding over bells" https://t.co/1xVqAZtpB1 https://t.co/H3Wlj0EIbO

    Hmm.

    By Crime Reporter "Hugh Dunnit".

    Defence Editor: Doug Trench.

    Twitter Slogan "You couldn't make it up".
    https://twitter.com/suffolkgazette

    https://www.youtube.com/watch?v=09LF_IE-ph0
  • kle4kle4 Posts: 97,052
    Totally off topic, but as I've not left the island for about 15 years, I've been thinking I might take an overseas holiday at some point this year, and a little further afield than our european neighbours - any suggestions for good locations for those on a modest budget and who will melt if the temperature is above 30C?
  • John_MJohn_M Posts: 7,503

    John_M said:

    Pong said:

    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.

    More accurately, it's a combination of poor house building starts (for decades across all governments), unprecedented levels of net immigration and the rise of the singleton 'family'.
    I would be interested to also know the ratio of say 1-2 bed flats vs larger homes. For the housebuilders they can get more on the $, but obviously it is less people / house, so per new house would be contributing less to reducing the problem.
    Couldn't find that, but did find:

    image
  • MattWMattW Posts: 24,779
    kle4 said:

    Totally off topic, but as I've not left the island for about 15 years, I've been thinking I might take an overseas holiday at some point this year, and a little further afield than our european neighbours - any suggestions for good locations for those on a modest budget and who will melt if the temperature is above 30C?

    Look at some of the New Year airline sales which are around for the next few days.

    I'm watching a Singapore return for £458 at present.
  • flightpath01flightpath01 Posts: 4,903

    tyson said:

    Re; taxes, I was just having a conversation with a friend- some years ago as I got extra cash coming in, I struggled with paying the additional taxes, and looked for ways to reduce paying it. But now, I find it easy to pay without even bothering to look at reduction strategies- it is money that I owe on income that I have earned. The more I pay, the more income I have earned- so a win win scenario. And there are few of these in life.

    I kind of think it is the same mentality as buying a better bottle of wine at a restaurant. Initially, I always looked for the house wine, or the next one up- but now I look for a decent bottle, and pay. I wouldn't pay for it if I could afford it, but because I can, I pay for it and enjoy it. Again a win win- for me and the restaurant.

    Bottom line is pay your taxes. And the more tax you pay, the better it is for you because the more money you have earned.

    I would generally agree with that with two provisos. First as I say I object to paying tax before I have earned the income. Secondly I object to the overall amount of tax we all have to pay. Using your analogy I feel we are paying for a bottle of 1982 St Julien and getting a bottle of house red.
    Richard - do you think that the state is inefficient in the delivery of services (i.e. unintended outcomes), or do you think you consider some intended outcomes as less valuable than others see them?
    Brown increased spending in real terms over 10 years by 50%. That's why spending is where it is.
  • flightpath01flightpath01 Posts: 4,903


    The £100 billion is for a 40 year life time, complete with vast numbers for overruns.

    The Chairman of the House of Commons Foreign Affairs Select Committee thinks it will be £160 billion. I would happily put a (very long term) bet on it being more than that if renewal goes ahead as proposed.

    http://tinyurl.com/gpth76y

    Malmesbury points out the 100bn includes contingency. We already have running costs for sub's that were coated over 40 years.
  • SandpitSandpit Posts: 55,932
    edited 2016 10
    kle4 said:

    Totally off topic, but as I've not left the island for about 15 years, I've been thinking I might take an overseas holiday at some point this year, and a little further afield than our european neighbours - any suggestions for good locations for those on a modest budget and who will melt if the temperature is above 30C?

    New York in the autumn is spectacular
    Canada is good weather in the summer and not too hot
    Dubai (obviously!) but after Easter it will be too hot until October.
    Singapore and HK are expensive but both worth a visit.

    Hint: for long haul flights look at indirect options. eg. from London to Dubai you can connect in Amsterdam, Instanbul, Bahrain and others, almost all of which will be cheaper than a direct flight, and in some cases can be half the price. A lot of airlines also have sales on at the moment so look at the deals that are available and choose from there.

    Another option is a multi-city break, eg take a flight from London to Vancouver via NY or London to Singapore via Dubai, travelling on the 'home' airline for the intermediate city. Stay in that city for a few days to break up the travel.
  • Morris_DancerMorris_Dancer Posts: 62,138
    Mr. T, in case you didn't click, or missed, the link below, BBC clown Hugh Sykes mentions (admittedly in passing) the conspiracy theory that evil German men tricked the gropers, thieves and rapists of that Cologne New Year attack into thinking sexually abusing female strangers was normal behaviour.

    I said it before, but if this gets hooked into the EU campaign, it's the only issue (barring a black swan) I can see potentially shifting it to Leave. [I still think Remain will win].
  • RodCrosbyRodCrosby Posts: 7,737
    kle4 said:

    Totally off topic, but as I've not left the island for about 15 years, I've been thinking I might take an overseas holiday at some point this year, and a little further afield than our european neighbours - any suggestions for good locations for those on a modest budget and who will melt if the temperature is above 30C?

    Canada?
  • chestnutchestnut Posts: 7,341
    Pong said:

    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.

    The cost of a private flat in the place in London where I first rented privately in 1988 is the same today, when adjusted for inflation.

    My interest rate today is under 3%. It was over 15% when I first bought property.

    High purchase prices are being sustained by interest rates that have been kept too low for too long.


  • foxinsoxukfoxinsoxuk Posts: 23,548
    kle4 said:

    Totally off topic, but as I've not left the island for about 15 years, I've been thinking I might take an overseas holiday at some point this year, and a little further afield than our european neighbours - any suggestions for good locations for those on a modest budget and who will melt if the temperature is above 30C?

    If you are planning to go in our summer / their winter South Africa is great value. It can be grey in Capetown (but still worth seeing and can be glorious), but the East Cape, Natal and the high Veldt are beautifully sunny, but not too hot. Self drive is easy and safe (outside the cities).

    The Greenwood guide has lots of good value places to stay. I have never stayed in a bad one of theirs.

    http://www.greenwoodguides.com/south-africa/
  • MarkHopkinsMarkHopkins Posts: 5,584
    SeanT said:

    Incredible. Total cover-up of a Cologne style mob-sex attack by Swedish media, and when I say total, I mean TOTAL

    It happened last August yet is only now coming out

    http://nyheteridag.se/exposing-major-pc-cover-up-in-sweden-leading-daily-dagens-nyheter-refused-to-write-about-cologne-like-sex-crimes-in-central-stockholm/

    This stuff is so weird and huge and disturbing I feel a new thriller coming on.

    I've known (in other situations) where if you say something that is against what people want to believe, even you are completely right, they will invent reasons you are wrong and convince themselves it cannot be true with silly excuses. It seem subconscious.

    The media's reaction to these stories seems to be following this pattern.
  • Scott_PScott_P Posts: 51,453
    @grahamsleight: @hopisen Shouldn’t you be off talking to that giant broadcast-from-who-knows-where hologram of David Miliband?

    @hopisen: Let's not be silly. David would have briefed a challenge to Snoke, got Hux to resign, then accepted job in Outer Rim https://t.co/HLGcRTaGm5
  • foxinsoxukfoxinsoxuk Posts: 23,548
    Incidentally anyone who thinks that Leicester City have no depth to the squad and cannot score without Vardy or Mahrez should have seen our reserves in the FA cup game. Apart from Dyer that is!

    Wasilewski is a cult hero here, a beast of a defender.
  • runnymederunnymede Posts: 2,536
    'It seem subconscious'

    It is for most people but in these cases it is entirely conscious I think.
  • tlg86tlg86 Posts: 26,346

    Incidentally anyone who thinks that Leicester City have no depth to the squad and cannot score without Vardy or Mahrez should have seen our reserves in the FA cup game. Apart from Dyer that is!

    Wasilewski is a cult hero here, a beast of a defender.

    Well done on taking them to a replay, here's hoping you get all three points on Wednesday.
  • LucyJonesLucyJones Posts: 651

    SeanT said:

    Incredible. Total cover-up of a Cologne style mob-sex attack by Swedish media, and when I say total, I mean TOTAL

    It happened last August yet is only now coming out

    http://nyheteridag.se/exposing-major-pc-cover-up-in-sweden-leading-daily-dagens-nyheter-refused-to-write-about-cologne-like-sex-crimes-in-central-stockholm/

    This stuff is so weird and huge and disturbing I feel a new thriller coming on.

    I've known (in other situations) where if you say something that is against what people want to believe, even you are completely right, they will invent reasons you are wrong and convince themselves it cannot be true with silly excuses. It seem subconscious.

    The media's reaction to these stories seems to be following this pattern.
    I think the word for this is "cognitive dissonance" (ok, two words).

    https://en.wikipedia.org/wiki/Cognitive_dissonance

    "In psychology, cognitive dissonance is the mental stress or discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time, performs an action that is contradictory to one or more beliefs, ideas or values, or is confronted by new information that conflicts with existing beliefs, ideas, or values...

    ...Cognitive dissonance theory is founded on the assumption that individuals seek consistency between their expectations and their reality. Because of this, people engage in a process called dissonance reduction to bring their cognitions and actions in line with one another. This creation of uniformity allows for a lessening of psychological tension and distress. According to Festinger, dissonance reduction can be achieved in four ways.[1] In an example case where a person has adopted the attitude that they will no longer eat high fat food, but eats a high-fat doughnut, the four methods of reduction are:
    1.Change behavior or cognition ("I will not eat any more of this doughnut")
    2.Justify behavior or cognition by changing the conflicting cognition ("I'm allowed to cheat every once in a while")
    3.Justify behavior or cognition by adding new cognitions ("I'll spend 30 extra minutes at the gym to work this off")
    4.Ignore or deny any information that conflicts with existing beliefs ("This doughnut is not high in fat")"

  • Morris_DancerMorris_Dancer Posts: 62,138
    Miss Jones, if you want one word, doublethink might do the trick.

    Cognitive dissonance is a handy term, though.
  • LucyJonesLucyJones Posts: 651

    Miss Jones, if you want one word, doublethink might do the trick.

    Cognitive dissonance is a handy term, though.

    I thought "doubethink" was actually holding two conflicting ideas/opinions at the same time? "Cognitive dissonance" is, amongst other things. the discomfort that arises when is confronted by new information that conflicts with existing beliefs, ideas, or values. When the new information can no longer be discounted, devalued or denied then the justification attempts kick in: "They were egged on by German men"; "Women need to keep a safe distance/not go out alone/cover up"; "Men from all over the world and every culture commit rape" etc, etc.
  • rottenboroughrottenborough Posts: 63,832

    SeanT said:

    Incredible. Total cover-up of a Cologne style mob-sex attack by Swedish media, and when I say total, I mean TOTAL

    It happened last August yet is only now coming out

    http://nyheteridag.se/exposing-major-pc-cover-up-in-sweden-leading-daily-dagens-nyheter-refused-to-write-about-cologne-like-sex-crimes-in-central-stockholm/

    This stuff is so weird and huge and disturbing I feel a new thriller coming on.

    I've known (in other situations) where if you say something that is against what people want to believe, even you are completely right, they will invent reasons you are wrong and convince themselves it cannot be true with silly excuses. It seem subconscious.

    The media's reaction to these stories seems to be following this pattern.
    If this is true, then the media people involved are not really journalists. The job is to the report the truth.
  • viewcodeviewcode Posts: 23,108
    chestnut said:

    The cost of a private flat in the place in London where I first rented privately in 1988 is the same today, when adjusted for inflation

    That's a tautology

  • Morris_DancerMorris_Dancer Posts: 62,138
    Miss Jones, ah, didn't actually read the definition (I did take Psychology at university). My recollection was that it was synonymous, or very close to, doublethink.

    This may explain why I didn't get a first ;)
  • kle4kle4 Posts: 97,052

    kle4 said:

    Totally off topic, but as I've not left the island for about 15 years, I've been thinking I might take an overseas holiday at some point this year, and a little further afield than our european neighbours - any suggestions for good locations for those on a modest budget and who will melt if the temperature is above 30C?

    If you are planning to go in our summer / their winter South Africa is great value. It can be grey in Capetown (but still worth seeing and can be glorious), but the East Cape, Natal and the high Veldt are beautifully sunny, but not too hot. Self drive is easy and safe (outside the cities).

    The Greenwood guide has lots of good value places to stay. I have never stayed in a bad one of theirs.

    http://www.greenwoodguides.com/south-africa/
    Interesting.

    Thanks for all suggestions.
  • Morris_DancerMorris_Dancer Posts: 62,138
    Anyway, my eyes are going fuzzy, so I think it's time to leave the computer.

    Don't forget, kids, Supermodels of SHIELD is back on tonight (9pm E4, I think).
  • Moses_Moses_ Posts: 4,865
    Talking of pensions I need a good pension advisor but no idea how to find one to trust. I have asked around and most people say we'll try this person / company but watch out for XYZ or they were good but for this point or that point.

    I am not a lover of annuities as it looks like you buy a pot and then if you keel over a few weeks later the pension company keeps the lot or perhaps gives a miserly half to my wife. Probably got that all wrong just no idea.

    Just need to know what it's all worth as I am approaching 60 and what should I do now for the best?
    I have a number of pensions some frozen but have been paying something since 18 with exception of 4 years into a private pension. State payments are bang up to date.

    Any guidance woul helpful because just don't know who to trust with one of the biggest financial decisions I have to make.
  • LucyJonesLucyJones Posts: 651

    Miss Jones, ah, didn't actually read the definition (I did take Psychology at university). My recollection was that it was synonymous, or very close to, doublethink.

    This may explain why I didn't get a first ;)

    I took German and Economics at university. Remember walking around Salzburg where I spent my year abroad (and through the Residenzplatz - see below) late at night and alone on many occasions and never feeling unsafe.

    Salzburg was another city to experience "tahharush" on NYE. I fear that is a word we are going to become accustomed to.
    http://www.thelocal.at/20160107/salzburg-women-also-report-nye-sexual-assaults

  • foxinsoxukfoxinsoxuk Posts: 23,548

    Anyway, my eyes are going fuzzy, so I think it's time to leave the computer.

    Don't forget, kids, Supermodels of SHIELD is back on tonight (9pm E4, I think).

    Catch up with Deutschland 83 on 4 too. It is vey nostalgic, and more eighties nostalgia afterwards, before Footloose.
  • Plato_SaysPlato_Says Posts: 11,822
    AFP
    #UPDATE Cologne police say New Year violence cases up to 516 https://t.co/0fQ79PY8uS
  • rcs1000rcs1000 Posts: 58,161
    Re cognitive dissonance: it cuts both ways, of course.

    Just as those in the metropolian liberal elite tend to be desperate to come up with reasons why immigration is not a problem, others have a tendency to try and come up with reasons why any problem is the result of immigration and/or multiculturalism.
  • Plato_SaysPlato_Says Posts: 11,822
    Lolz
    This is the most important graph you’ll see today. RT #bias #science #outoftouch #hashtag https://t.co/yMZTxyRcTk
  • rcs1000rcs1000 Posts: 58,161
    edited 2016 10
    LucyJones said:

    Miss Jones, ah, didn't actually read the definition (I did take Psychology at university). My recollection was that it was synonymous, or very close to, doublethink.

    This may explain why I didn't get a first ;)

    I took German and Economics at university. Remember walking around Salzburg where I spent my year abroad (and through the Residenzplatz - see below) late at night and alone on many occasions and never feeling unsafe.

    Salzburg was another city to experience "tahharush" on NYE. I fear that is a word we are going to become accustomed to.
    http://www.thelocal.at/20160107/salzburg-women-also-report-nye-sexual-assaults

    Is there an equivalent to the National Crime Survey in Germany? I mention this, because there is a tendency for us to rely very heavily on a process of "casual empiricism" (i.e. things we've heard), rather than on hard data.

    So, in the UK, polls report a general belief that crime has risen, even when the number of people who say they've been a victim of crime has fallen.

    I would be very interested to see data.

    EDIT to add: of course, Salzburg is Austria. Doh!
  • SpeedySpeedy Posts: 12,100
    edited 2016 10
    New N.H. and Iowa poll, from NBC/WSJ:

    N.H.
    Trump 30% +9
    Rubio 14% +4
    Christie 12% +5
    Cruz 10% +4
    Bush 9% -2
    Kasich 9% +3
    Paul 5% 0
    Carson 4% -6
    Fiorina 3% -13


    GE Matchups

    Rubio – 52%
    Clinton – 40%

    Cruz – 48%
    Clinton – 44%

    Clinton – 45%
    Trump – 44%

    Iowa

    Cruz 28% +22
    Trump 24% 0
    Rubio 13% +7
    Carson 11% -8
    Paul 5% +1
    Bush 4% -1
    Christie 3% -1
    Fiorina 3% -5
    Huckabee 2% -3
    Kasich 2% -1

    GE Matchups

    Rubio 47%
    Clinton 42%

    Cruz 47%
    Clinton 43%

    Clinton 48%
    Trump 40%

    http://www.nbcnews.com/meet-the-press/poll-neck-neck-2016-races-iowa-new-hampshire-n493361
  • rcs1000rcs1000 Posts: 58,161
    Moses_ said:

    Talking of pensions I need a good pension advisor but no idea how to find one to trust. I have asked around and most people say we'll try this person / company but watch out for XYZ or they were good but for this point or that point.

    I am not a lover of annuities as it looks like you buy a pot and then if you keel over a few weeks later the pension company keeps the lot or perhaps gives a miserly half to my wife. Probably got that all wrong just no idea.

    Just need to know what it's all worth as I am approaching 60 and what should I do now for the best?
    I have a number of pensions some frozen but have been paying something since 18 with exception of 4 years into a private pension. State payments are bang up to date.

    Any guidance woul helpful because just don't know who to trust with one of the biggest financial decisions I have to make.

    While I would not offer financial advice, my plan is to invest in a selection of global (some US, some European, some UK, some Asian) dividend paying stocks. This should enable you to get an income stream that grows in-line (or faster than) inflation, while offering your descendents something when you pass on, and offering a comparable initial yield.

    However, I would not that this does increase your risk somewhat.
  • foxinsoxukfoxinsoxuk Posts: 23,548
    kle4 said:

    kle4 said:

    Totally off topic, but as I've not left the island for about 15 years, I've been thinking I might take an overseas holiday at some point this year, and a little further afield than our european neighbours - any suggestions for good locations for those on a modest budget and who will melt if the temperature is above 30C?

    If you are planning to go in our summer / their winter South Africa is great value. It can be grey in Capetown (but still worth seeing and can be glorious), but the East Cape, Natal and the high Veldt are beautifully sunny, but not too hot. Self drive is easy and safe (outside the cities).

    The Greenwood guide has lots of good value places to stay. I have never stayed in a bad one of theirs.

    http://www.greenwoodguides.com/south-africa/
    Interesting.

    Thanks for all suggestions.
    The flight is a bit pricy, but with the SAR at 22 to the pound, very good value when there.

    For a budget choice in Capetown that is secure and right on the V and A Waterfront (where you want to be in the evening) stay at the Protea Breakwater Lodge, the old "whites only" prison.

    South Africa could go like Zimbabwe over the next decade or so, and may not be so easily visited. South Africa is fascinating. Scenery, History, Wildlife, Culture Shock, there is Cognitive dissonance everywhere.

    The roads are well signposted and drive on the same side as us, though at night in rural areas a fair amount of unlit traffic on the roads.

    Once seen, never forgotton.



  • eekeek Posts: 28,930
    chestnut said:

    Pong said:

    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.

    The cost of a private flat in the place in London where I first rented privately in 1988 is the same today, when adjusted for inflation.

    My interest rate today is under 3%. It was over 15% when I first bought property.

    High purchase prices are being sustained by interest rates that have been kept too low for too long.


    And what happened in late 1989 onwards?
  • rcs1000rcs1000 Posts: 58,161
    eek said:

    chestnut said:

    Pong said:

    Very few people in their 20's/30's care about pensions when housing costs are so crazy.

    We've been mugged by the baby boomers.

    The cost of a private flat in the place in London where I first rented privately in 1988 is the same today, when adjusted for inflation.

    My interest rate today is under 3%. It was over 15% when I first bought property.

    High purchase prices are being sustained by interest rates that have been kept too low for too long.


    And what happened in late 1989 onwards?
    42%, I believe, was the *real* (i.e. adjusted for the double digit inflation we had for part of the period) drop in the value of property from peak to trough.
  • MP_SEMP_SE Posts: 3,642
    rcs1000 said:

    Moses_ said:

    Talking of pensions I need a good pension advisor but no idea how to find one to trust. I have asked around and most people say we'll try this person / company but watch out for XYZ or they were good but for this point or that point.

    I am not a lover of annuities as it looks like you buy a pot and then if you keel over a few weeks later the pension company keeps the lot or perhaps gives a miserly half to my wife. Probably got that all wrong just no idea.

    Just need to know what it's all worth as I am approaching 60 and what should I do now for the best?
    I have a number of pensions some frozen but have been paying something since 18 with exception of 4 years into a private pension. State payments are bang up to date.

    Any guidance woul helpful because just don't know who to trust with one of the biggest financial decisions I have to make.

    While I would not offer financial advice, my plan is to invest in a selection of global (some US, some European, some UK, some Asian) dividend paying stocks. This should enable you to get an income stream that grows in-line (or faster than) inflation, while offering your descendents something when you pass on, and offering a comparable initial yield.

    However, I would not that this does increase your risk somewhat.
    It is hard to see much value anywhere.
  • FrancisUrquhartFrancisUrquhart Posts: 82,624
    MI5 tried to recruit terror suspect before his flight to Syria

    http://www.thesundaytimes.co.uk/sto/news/uk_news/article1654698.ece?CMP=OTH-gnws-standard-2016_01_09

    MI5 tried twice to get bouncy castle bob to become a double agent. Suffice to say, that hasn't worked out so well.
  • RodCrosbyRodCrosby Posts: 7,737
    Moses_ said:

    Talking of pensions I need a good pension advisor but no idea how to find one to trust. I have asked around and most people say we'll try this person / company but watch out for XYZ or they were good but for this point or that point.

    I am not a lover of annuities as it looks like you buy a pot and then if you keel over a few weeks later the pension company keeps the lot or perhaps gives a miserly half to my wife. Probably got that all wrong just no idea.

    Just need to know what it's all worth as I am approaching 60 and what should I do now for the best?
    I have a number of pensions some frozen but have been paying something since 18 with exception of 4 years into a private pension. State payments are bang up to date.

    Any guidance woul helpful because just don't know who to trust with one of the biggest financial decisions I have to make.

    If you have a lump sum I would also look at P2P, gross rates of up to 20% available, although less risk at around the 12-13% mark.

    It's about to become even more attractive with losses tax-allowable and ISAs in the pipeline. There's even one site where you can, in effect, in theory, garner your gains tax-free...

    Downside is you need to diversify a lot to reduce risk, and as it is starting to become a feeding frenzy as more people pile in, that could take a while to achieve. Maybe a year.

    DYOR.
  • FrancisUrquhartFrancisUrquhart Posts: 82,624
    edited 2016 10
    RodCrosby said:

    Moses_ said:

    Talking of pensions I need a good pension advisor but no idea how to find one to trust. I have asked around and most people say we'll try this person / company but watch out for XYZ or they were good but for this point or that point.

    I am not a lover of annuities as it looks like you buy a pot and then if you keel over a few weeks later the pension company keeps the lot or perhaps gives a miserly half to my wife. Probably got that all wrong just no idea.

    Just need to know what it's all worth as I am approaching 60 and what should I do now for the best?
    I have a number of pensions some frozen but have been paying something since 18 with exception of 4 years into a private pension. State payments are bang up to date.

    Any guidance woul helpful because just don't know who to trust with one of the biggest financial decisions I have to make.

    If you have a lump sum I would also look at P2P, gross rates of up to 20% available, although less risk at around the 12-13% mark.

    It's about to become even more attractive with losses tax-allowable and ISAs in the pipeline. There's even one site where you can, in effect, in theory, garner your gains tax-free...

    Downside is you need to diversify a lot to reduce risk, and as it is starting to become a feeding frenzy as more people pile in, that could take a while to achieve. Maybe a year.

    DYOR.
    I have invested some money through these. I have to say I am surprised some of these firms haven't really advertised in the main stream, with plenty of people wanting affordable money on one side and significant numbers of people getting < 1.0% on their ISAs on the other, you would think it would be perfect time to advertise to the mainstream. Zopa have been about for ages now, but I don't think I have ever seen an advert for them.
  • LucyJonesLucyJones Posts: 651
    rcs1000 said:

    Re cognitive dissonance: it cuts both ways, of course.

    Just as those in the metropolian liberal elite tend to be desperate to come up with reasons why immigration is not a problem, others have a tendency to try and come up with reasons why any problem is the result of immigration and/or multiculturalism.

    Wouldn't disagree with that. What I have also noticed is that, once people have been persuaded to change a long-held view, they often seem to veer towards the extreme opposite. Hence, for example, the militant anti-smoking attitude of many an ex-smoker.

  • RodCrosbyRodCrosby Posts: 7,737

    RodCrosby said:

    Moses_ said:

    Talking of pensions I need a good pension advisor but no idea how to find one to trust. I have asked around and most people say we'll try this person / company but watch out for XYZ or they were good but for this point or that point.

    I am not a lover of annuities as it looks like you buy a pot and then if you keel over a few weeks later the pension company keeps the lot or perhaps gives a miserly half to my wife. Probably got that all wrong just no idea.

    Just need to know what it's all worth as I am approaching 60 and what should I do now for the best?
    I have a number of pensions some frozen but have been paying something since 18 with exception of 4 years into a private pension. State payments are bang up to date.

    Any guidance woul helpful because just don't know who to trust with one of the biggest financial decisions I have to make.

    If you have a lump sum I would also look at P2P, gross rates of up to 20% available, although less risk at around the 12-13% mark.

    It's about to become even more attractive with losses tax-allowable and ISAs in the pipeline. There's even one site where you can, in effect, in theory, garner your gains tax-free...

    Downside is you need to diversify a lot to reduce risk, and as it is starting to become a feeding frenzy as more people pile in, that could take a while to achieve. Maybe a year.

    DYOR.
    I have invested some money through these. I have to say I am surprised some of these firms haven't really advertised in the main stream, with people wanting short term money on one side and significant numbers of people getting < 1.0% on their ISAs on the other, you would think it would be perfect time to advertise to the mainstream. Zopa have been about for ages now, but I don't think I have ever seen an advert for them.
    I now have a six figure sum invested. Very happy with my returns so far.

    The two main dangers are:-

    platform risk (I think one has gone belly up in the UK so far, with isolated cases elsewhere). Increased FCA regulation has mitigated this somewhat.

    property prices, as the bulk of (secured) lending is bridging/development loans. If the market catches a cold, I guess a lot of people will (try to) head for the exits.

    There is plenty of unsecured P2P lending, of course, to SMEs if you fancy even more risk! An interesting growing niche is in pawn-shop type items.
  • SpeedySpeedy Posts: 12,100
    edited 2016 10
    In other 2016 news:
    Alex Castellanos talked to NBC and has dropped his anti-Trump campaign sighting it's too late and fear of Ted Cruz being the beneficiary of any Trump fall:

    http://www.realclearpolitics.com/video/2016/01/10/gop_strategist_alex_castellanos_no_takers_for_my_anti_trump_campaign_too_late_to_stop_trump.html


    " "No takers," Castellanos said about his anti-Trump campaign. "It's too confusing this year for the establishment. It's getting late in the game. If you disqualify Trump, you could help Ted Cruz. "The establishment doesn't want that. If you disqualify Cruz, you could help Trump. So a lot of the establishment is just sitting on the sidelines and I think the moment to go after either has passed." "

    It's very illuminating.
  • rcs1000rcs1000 Posts: 58,161
    As an aside, can I just re-recommend this lecture:

    https://www.youtube.com/watch?v=FACK2knC08E

    One of the most fascinating things I have ever watched.
  • MP_SEMP_SE Posts: 3,642
    RodCrosby said:

    RodCrosby said:

    Moses_ said:

    Talking of pensions I need a good pension advisor but no idea how to find one to trust. I have asked around and most people say we'll try this person / company but watch out for XYZ or they were good but for this point or that point.

    I am not a lover of annuities as it looks like you buy a pot and then if you keel over a few weeks later the pension company keeps the lot or perhaps gives a miserly half to my wife. Probably got that all wrong just no idea.

    Just need to know what it's all worth as I am approaching 60 and what should I do now for the best?
    I have a number of pensions some frozen but have been paying something since 18 with exception of 4 years into a private pension. State payments are bang up to date.

    Any guidance woul helpful because just don't know who to trust with one of the biggest financial decisions I have to make.

    If you have a lump sum I would also look at P2P, gross rates of up to 20% available, although less risk at around the 12-13% mark.

    It's about to become even more attractive with losses tax-allowable and ISAs in the pipeline. There's even one site where you can, in effect, in theory, garner your gains tax-free...

    Downside is you need to diversify a lot to reduce risk, and as it is starting to become a feeding frenzy as more people pile in, that could take a while to achieve. Maybe a year.

    DYOR.
    I have invested some money through these. I have to say I am surprised some of these firms haven't really advertised in the main stream, with people wanting short term money on one side and significant numbers of people getting < 1.0% on their ISAs on the other, you would think it would be perfect time to advertise to the mainstream. Zopa have been about for ages now, but I don't think I have ever seen an advert for them.
    I now have a six figure sum invested. Very happy with my returns so far.

    The two main dangers are:-

    platform risk (I think one has gone belly up in the UK so far, with isolated cases elsewhere). Increased FCA regulation has mitigated this somewhat.

    property prices, as the bulk of (secured) lending is bridging/development loans. If the market catches a cold, I guess a lot of people will (try to) head for the exits.

    There is plenty of unsecured P2P lending, of course, to SMEs if you fancy even more risk! An interesting growing niche is in pawn-shop type items.
    Platform risk is putting me off investing any more than a single digit percentage of my overall portfolio in P2P. I would prefer to invest in a basket of coporate bonds such as Ladbrokes which would yield 5% over say getting 5% from Ratesetter for 3 years.
  • PulpstarPulpstar Posts: 78,755
    RodCrosby said:

    RodCrosby said:

    Moses_ said:

    Talking of pensions I need a good pension advisor but no idea how to find one to trust. I have asked around and most people say we'll try this person / company but watch out for XYZ or they were good but for this point or that point.

    I am not a lover of annuities as it looks like you buy a pot and then if you keel over a few weeks later the pension company keeps the lot or perhaps gives a miserly half to my wife. Probably got that all wrong just no idea.

    Just need to know what it's all worth as I am approaching 60 and what should I do now for the best?
    I have a number of pensions some frozen but have been paying something since 18 with exception of 4 years into a private pension. State payments are bang up to date.

    Any guidance woul helpful because just don't know who to trust with one of the biggest financial decisions I have to make.

    If you have a lump sum I would also look at P2P, gross rates of up to 20% available, although less risk at around the 12-13% mark.

    It's about to become even more attractive with losses tax-allowable and ISAs in the pipeline. There's even one site where you can, in effect, in theory, garner your gains tax-free...

    Downside is you need to diversify a lot to reduce risk, and as it is starting to become a feeding frenzy as more people pile in, that could take a while to achieve. Maybe a year.

    DYOR.
    I have invested some money through these. I have to say I am surprised some of these firms haven't really advertised in the main stream, with people wanting short term money on one side and significant numbers of people getting < 1.0% on their ISAs on the other, you would think it would be perfect time to advertise to the mainstream. Zopa have been about for ages now, but I don't think I have ever seen an advert for them.
    I now have a six figure sum invested. Very happy with my returns so far.

    The two main dangers are:-

    platform risk (I think one has gone belly up in the UK so far, with isolated cases elsewhere). Increased FCA regulation has mitigated this somewhat.

    property prices, as the bulk of (secured) lending is bridging/development loans. If the market catches a cold, I guess a lot of people will (try to) head for the exits.

    There is plenty of unsecured P2P lending, of course, to SMEs if you fancy even more risk! An interesting growing niche is in pawn-shop type items.
    I have around 6k invested in these, Saving Stream; Funding Secure and Ablrate are all very nice return for secured lending. Quite a few 'bonuses' to clear on other platforms.
    People seem to recommend giving Bondora a miss.
  • FrancisUrquhartFrancisUrquhart Posts: 82,624
    edited 2016 10
    rcs1000 said:

    As an aside, can I just re-recommend this lecture:

    https://www.youtube.com/watch?v=FACK2knC08E

    One of the most fascinating things I have ever watched.

    I liked his one on poverty, where he busted a lot of the nonsense about what poverty really is and what we should be talking about in regards to this and how eradicating shall we say "genuine" poverty is achievable.
  • Philip_ThompsonPhilip_Thompson Posts: 65,826
    viewcode said:

    chestnut said:

    The cost of a private flat in the place in London where I first rented privately in 1988 is the same today, when adjusted for inflation

    That's a tautology

    No it isn't.
  • SpeedySpeedy Posts: 12,100
    Actually watching the whole video is more revealing that there is a major change in the air about Trump vs Cruz in the establishment, they are scared of Cruz so much most of them prefer Trump and that's why they are holding fire:
    http://www.nbcnews.com/meet-the-press/video/what-can-the-gop-establishment-do-to-stop-ted-cruz-and-donald-trump-599326275881
  • TheWhiteRabbitTheWhiteRabbit Posts: 12,454
    Pulpstar said:

    RodCrosby said:

    RodCrosby said:

    Moses_ said:

    Talking of pensions I need a good pension advisor but no idea how to find one to trust. I have asked around and most people say we'll try this person / company but watch out for XYZ or they were good but for this point or that point.

    I am not a lover of annuities as it looks like you buy a pot and then if you keel over a few weeks later the pension company keeps the lot or perhaps gives a miserly half to my wife. Probably got that all wrong just no idea.

    Just need to know what it's all worth as I am approaching 60 and what should I do now for the best? [...]

    If you have a lump sum I would also look at P2P, gross rates of up to 20% available, although less risk at around the 12-13% mark.

    It's about to become even more attractive with losses tax-allowable and ISAs in the pipeline. There's even one site where you can, in effect, in theory, garner your gains tax-free...

    Downside is you need to diversify a lot to reduce risk, and as it is starting to become a feeding frenzy as more people pile in, that could take a while to achieve. Maybe a year.

    DYOR.
    I have invested some money through these. I have to say I am surprised some of these firms haven't really advertised in the main stream, with people wanting short term money on one side and significant numbers of people getting < 1.0% on their ISAs on the other, you would think it would be perfect time to advertise to the mainstream. Zopa have been about for ages now, but I don't think I have ever seen an advert for them.
    I now have a six figure sum invested. Very happy with my returns so far.

    The two main dangers are:-

    platform risk (I think one has gone belly up in the UK so far, with isolated cases elsewhere). Increased FCA regulation has mitigated this somewhat.

    property prices, as the bulk of (secured) lending is bridging/development loans. If the market catches a cold, I guess a lot of people will (try to) head for the exits.

    There is plenty of unsecured P2P lending, of course, to SMEs if you fancy even more risk! An interesting growing niche is in pawn-shop type items.
    I have around 6k invested in these, Saving Stream; Funding Secure and Ablrate are all very nice return for secured lending. Quite a few 'bonuses' to clear on other platforms.
    People seem to recommend giving Bondora a miss.
    I did peer to peer via Ratesetter. Given that the ISA hadn't come in (even though I only pay basic rate tax) my return wasn't really worth it for a marginal extra return. I forget exactly, something like 2.5% pa v easy access (~2% at the time), 3.5% v traditional savings (~2.75% at the time).
  • FrancisUrquhartFrancisUrquhart Posts: 82,624
    edited 2016 10



    I did peer to peer via Ratesetter. Given that the ISA hadn't come in (even though I only pay basic rate tax) my return wasn't really worth it for a marginal extra return. I forget exactly, something like 2.5% pa v easy access (~2% at the time), 3.5% v traditional savings (~2.75% at the time).

    This will make some difference from April...

    http://www.moneysavingexpert.com/savings/personal-savings-allowance
  • PulpstarPulpstar Posts: 78,755
    @Thewhiterabbit There's a whole bunch of traditional bank accounts to game and clear before sticking a penny in P2P tbh - though with Ratesetter you should be able to get 5-6%.
  • TheWhiteRabbitTheWhiteRabbit Posts: 12,454



    I did peer to peer via Ratesetter. Given that the ISA hadn't come in (even though I only pay basic rate tax) my return wasn't really worth it for a marginal extra return. I forget exactly, something like 2.5% pa v easy access (~2% at the time), 3.5% v traditional savings (~2.75% at the time).

    This will make some difference from April...

    http://www.moneysavingexpert.com/savings/personal-savings-allowance
    Yes. The other problem was voids, i.e. time on the market not earning. Compared to the gross percentage it wasn't huge, but vis-a-vis the margin over a traditional savings product it was a significant eroding factor.
This discussion has been closed.