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About DurhamBorn

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  1. Yes and its not just the income its the lifestyle.Somebody used to spending £250 a week can adjust to £200 a week.Someone used to £600 a week down to £200 will really struggle.Chances are they also have bigger houses,so bigger council tax,other debts,used to new cars etc.The other big problem is the pension age.A state pension of £160 a week is quite generous and if you have £140 a week from other sources and zero debt/own outright etc i see that as a good position.The problem is people have very little to get them to 68 from say 55.If people are struggling to get jobs at 50 its 18 years until state pension age.Thats a long time.
  2. It wasnt so bad years ago as at least you tended to have a good final salary pension that kicked in at 55.With that and the redundancy and if you hadnt gone mad all life you were ok.Zoom to now and a lot people still have decent sized MEWed mortgages,other debts,crap pensions at best and a pension age that is moving more and more away.
  3. Yes thats very true about people around 50.I noticed it as well,and was lucky enough to be warned about it back then by some very shrewd guys i worked with.It was one of the reasons i decided i had to get myself into as good a position as possible by late 40s.The problem is worse because of age discrimination and the fact a lot of the jobs these days are more suited to younger people.You can still get jobs of course,but its easier if you dont need a big salary.Iv got many friends late 40s working for good companies on decent money,but zero savings and still mortgages (not southern size mortgages,im talking £40 to £80k).They are taking huge risks.Iv also got friends on the tax credit train who will really struggle once the kids are 18 (and they are about 52-57).Zero savings,mostly zero equity and zero job experience for 18 years outside of part time stuff.15 years from tax credits ending to state pension age will seem a very very long time for them.
  4. Its like a family trust.Trusts pay 45% tax on income.If the income is handed out the person can claim the tax back on his normal rate.So a none tax payer can claim back the full amount up to their allowance.A 40% tax payer can only claim 5% back.Someone on means tested benefits would lose them etc.So the best thing to do is for the trust to make payments to the person who can claim the most/all the tax back.If that person happens to then post it/some of it through someone else's letter box well who knew.Works very well for smallish trusts where "family members" are the beneficiaries .Of course is someone is on benefits you make the payments to them out of capital below £3000 a time.
  5. I use baking powder and also olive oil when cleaning my coins from metal detecting.Thats sorts out a 2000 year old roman coin I havent but i have meant to really look into it a few times.Buying with 20% (or 40%) off at these prices seems a fantastic idea.
  6. Yes,i wouldnt be selling them to them.They are VAT free and in the UK VAT is added,you can even sell them on Ebay for £19.75 minus fees and postage.
  7. Exactly what i do,always give a silver coin as christening/birth gift.People are always wow pure silver? its so heavy/beautiful etc.
  8. As per the second part of the thread.A reflation cycle ahead.The needle is slowly moving.The only difference is i expect government will be investing a lot rather than just being a backstop with 0.1% 50 year gilts funded by BOE QE. https://www.dailymail.co.uk/money/comment/article-6194817/ALEX-BRUMMER-Britains-need-reboot-Chequers-Brexit-plan-rejected.html Clean energy,telco,transport and id add military to that as well.
  9. I had a tryst with a girl in the sand dunes at Redcar (met her in Boro).When i got home i was covered in a fine grey dust that took a long shower to remove.Not sure if it was from the steel works smoke or from the nuclear power station yon side of the river.Laying in those dunes with all the lights on the steel works and chemical plants reminded my of Blade Runner
  10. Do you sell them on gumtree much?.Iv given a few to children as gifts and people always love them.
  11. Yes agreed.Id expect to be looking at around £80k for those £130k ones as you say wages will be around £20k.It shows the difference though around the country.The prices are very similar near me,same as 2004 prices.Some poor terraces are at 1995 prices.I actually like the northern coast towns,even the brutal ones.
  12. I like physical coins as well and get them from here VAT free.(maybe not much longer when we are out of the EU) https://www.coininvest.com/en/silver-coins/britannia/1-oz-britannia-silver-2018/ Im going to get myself some of these as well.Love them. https://www.coininvest.com/en/silver-coins/krugerrand/1-oz-krugerrand-silver-coin-2018/ Like you say the premium on them will probably shoot up in a silver bull.£14 each for Britannia's at the moment.I reckon £150 each at some point in the next silver bull.Very happy to buy at that price and if they hit £8 even happier to buy.
  13. Nice to see.That starts to explain the real picture.They mention Redcar in the least demand.Nice 3 bed semis/2 bed bungalow's can be easily had around £130k.Probate's coming on and lack of demand from young people who move away or are on benefits.The coming cycle will see much more investment in industry in these sorts of places.
  14. Well yes,and thats part of the fear of been skint,being unable to help family or have options to deal with things.When i had cancer at 30 i took 5 years off working and that was because i could afford it,but did run my money down some in that time.I think had i been skint then and had to return to work etc id of been dead.I agree something will turn up always,but i like 10 years comfort zone in case it takes its time
  15. I wont ever be skint from here in.Iv enough to last me the rest of my life unless i suffer a huge capital hit.The fear of being skint was from 14 until id made enough to pay for the basics forever.Once id paid my mortgage off and investments to give me £12k a year from the income minimum i moved to quality of life mode.Im considering moving to accumulate mode for a few more years simply to give me more options,and mostly so my partner can retire soon as well.It also gives me longer to structure my portfolio without any risk of taking anything from it.