Credit deflation and the reflation cycle to come (part 3)

[Chewing Grass]

50 minutes ago, Animal Spirits said:

Why your pension pot will now run out 15 years early

https://12ft.io/proxy?q=https%3A%2F%2Fwww.telegraph.co.uk%2Fpensions-retirement%2Ffinancial-planning%2Fwhy-pension-pot-will-now-run-15-years-early%2F

DT journos reading the thread again.

People need to realise what they are actually working for because the contract has been broken and they have been conned and robbed.

Every financial assumption the Pensions Co's have used in their modelling has been fraudulent for years, growth rates for one, and the politicians since that one eyed loon Broon have conveniently ignored it.

I will add the media as well as journalists can't all be financial idiots who miss the obvious about their own pots, can they?

Edit: Having got to the bottom here is the big lie from the financial advisor quoted in the article.

Delaying retirement by 3 years does not make the pot last 12 years longer, assumptions have been made about growth and contributions that more most people whose earnings may have peaked before then are wrong.

This is politicians and bankers wanting to shove your retirement options further towards death.

[No One]

1 hour ago, DurhamBorn said:

I own the stock as well and its done very nicely for us hasnt it,as have others in Brazil.I cant give individual advice because i have no idea if it goes up or down this week,month,year etc.However what iv done with some of mine including that one is sell some and buy Blackrock Latin American Investment Trust.Exposure to the economies still,less upside maybe,but 4 divis a year.

Thank you kindly.

 

My position is relatively modest. 1.7k so I wont be selling it to get the blackrock latin american index but I am waiting for the 12th month pension contribution so I can move it to the SIPP before restarting the pension.

 

There was a post somewhere on how to do it, but its so faffy

[Boon]

https://www.mumsnet.com/talk/am_i_being_unreasonable/4607670-to-think-that-very-few-people-can-manage-ps4200-energy-bills?page=1

A mumsnet megathread, maybe some of the papers will pick up on it.

Only thing I can say is 'poverty cosplay' will be real popular this year.

Strange that on other bits of the forum there are plenty of people wanting to stealthily brag about their wealth but they have decided to say nothing on the thread. It will be become unpopular to be anything but struggling with the bills soon otherwise the rage of the crowd be upon you.

[Chewing Grass]

3 minutes ago, Boon said:

https://www.mumsnet.com/talk/am_i_being_unreasonable/4607670-to-think-that-very-few-people-can-manage-ps4200-energy-bills?page=1

A mumsnet megathread, maybe some of the papers will pick up on it.

Only thing I can say is 'poverty cosplay' will be real popular this year.

Strange that on other bits of the forum there are plenty of people wanting to stealthily brag about their wealth but they have decided to say nothing on the thread. It will be become unpopular to be anything but struggling with the bills soon otherwise the rage of the crowd be upon you.

I have noticed that some of the South Manchester 'all fur and no knickers' brigade we know via family who took early retirement are now 'looking at going back to work part time after Xmas'.

1) they will struggle

2) they are skint but have to keep up appearances

3) they think their lower middle class houses from the 1970s are worth £500K near the Airport

4) after this Winter @WorkingPoor prediction will come true and all those newly recruited ground staff will be out of a job again

[DurhamBorn]

59 minutes ago, Chewing Grass said:

People need to realise what they are actually working for because the contract has been broken and they have been conned and robbed.

Every financial assumption the Pensions Co's have used in their modelling has been fraudulent for years, growth rates for one, and the politicians since that one eyed loon Broon have conveniently ignored it.

I will add the media as well as journalists can't all be financial idiots who miss the obvious about their own pots, can they?

Edit: Having got to the bottom here is the big lie from the financial advisor quoted in the article.

Delaying retirement by 3 years does not make the pot last 12 years longer, assumptions have been made about growth and contributions that more most people whose earnings may have peaked before then are wrong.

This is politicians and bankers wanting to shove your retirement options further towards death.

IFAs will do anything to stop people going into drawdown and carry on saving,they make more money.I did a transfer of an old pension through an IFA who thought they would be managing until it went through and i launched a transfer on them the same morning.Two years gone Feb.The funds they would of invested in are up around 8%,4.6% after fees.They would of had £5k in fees already on that transfer pot.Id be up around £6k so the same as me for about 30 minutes work a year and another hour to show you pretty graphs over a filtered coffee.Iv increased it 84% in the same time roughly.

Its critical to keep fees low,they make a massive difference,but most dont understand that.They think oh its only 1.2%,but then dont see the 0.2% platform fee,the 0.7% fund manager fee etc.

I have no idea if il end up skint at some point,anything can happen,but i do know im really enjoying being retired at 50.I got another job offer today and they send the terms over.Wage was nowhere near,but then reading the rest of the crap.Must give two weeks notice for day off,20 days holiday (they got more in the 60s) etc etc.I told them they had zero chance of getting or holding the sort of staff they were afte with those terms.

John Lewis CEO was in the paper today complaining too many over 50s had jacked in and it was causing employers a nightmare and that the government needed to "help" and "encourage" these people back to work.No doubt fear mongering over pensions is part of that.Someone has to pay or the bennies.

[Chewing Grass]

11 minutes ago, Boon said:

https://www.mumsnet.com/talk/am_i_being_unreasonable/4607670-to-think-that-very-few-people-can-manage-ps4200-energy-bills?page=1

A mumsnet megathread, maybe some of the papers will pick up on it.

Only thing I can say is 'poverty cosplay' will be real popular this year.

Strange that on other bits of the forum there are plenty of people wanting to stealthily brag about their wealth but they have decided to say nothing on the thread. It will be become unpopular to be anything but struggling with the bills soon otherwise the rage of the crowd be upon you.

Which one of you is this 'woman', the bitches on Mumsnet can't be this toxic surely.

[M S E Refugee]

8 minutes ago, Boon said:

https://www.mumsnet.com/talk/am_i_being_unreasonable/4607670-to-think-that-very-few-people-can-manage-ps4200-energy-bills?page=1

A mumsnet megathread, maybe some of the papers will pick up on it.

Only thing I can say is 'poverty cosplay' will be real popular this year.

Strange that on other bits of the forum there are plenty of people wanting to stealthily brag about their wealth but they have decided to say nothing on the thread. It will be become unpopular to be anything but struggling with the bills soon otherwise the rage of the crowd be upon you.

They are like spoilt children who have been indulged for far too long.

These people have virtue signalled their way into poverty, you'd have to have a heart of stone not laugh.

It couldn't happen to more tedious people I'm sure.

[Chewing Grass]

5 minutes ago, DurhamBorn said:

John Lewis CEO was in the paper today complaining too many over 50s had jacked in and it was causing employers a nightmare and that the government needed to "help" and "encourage" these people back to work.

Can't see John Lewis surviving for long in the coming recession with falling sales and a workforce of woke youngsters.

[DurhamBorn]

17 minutes ago, Boon said:

https://www.mumsnet.com/talk/am_i_being_unreasonable/4607670-to-think-that-very-few-people-can-manage-ps4200-energy-bills?page=1

A mumsnet megathread, maybe some of the papers will pick up on it.

Only thing I can say is 'poverty cosplay' will be real popular this year.

Strange that on other bits of the forum there are plenty of people wanting to stealthily brag about their wealth but they have decided to say nothing on the thread. It will be become unpopular to be anything but struggling with the bills soon otherwise the rage of the crowd be upon you.

I think whats interesting are the amount on there scamming bennies for kids etc and part of the problem.They always put on my kids have "complex needs" rather than im scamming DLA.The very same people who want green energy to virtue signal,mass immigration and more and more bennies suddenly saying "burn the tories and capitalists"when its socialism that got us here.Low and middle paid workers who dont get bennies are the real victims in all this and Sunak even froze the tax allowance,what an utter cunt he is.300 years worth of coal under my feet all the way out to sea and yet the government sits and does nothing.I cant see how £500 a month energy bills will stand.Half the country wont be able to pay,and wont.

[SpectrumFX]

1 hour ago, Chewing Grass said:

People need to realise what they are actually working for because the contract has been broken and they have been conned and robbed.

Every financial assumption the Pensions Co's have used in their modelling has been fraudulent for years, growth rates for one, and the politicians since that one eyed loon Broon have conveniently ignored it.

I will add the media as well as journalists can't all be financial idiots who miss the obvious about their own pots, can they?

Edit: Having got to the bottom here is the big lie from the financial advisor quoted in the article.

Delaying retirement by 3 years does not make the pot last 12 years longer, assumptions have been made about growth and contributions that more most people whose earnings may have peaked before then are wrong.

This is politicians and bankers wanting to shove your retirement options further towards death.

In relation to your point on peak earnings I updated a spreadsheet today in which I track my salary. It's got 25 years of data in it, and it's set up to restate all of the historical salary figures as per the RPI index.

On that analysis my peak salary was when I was 33, and I'd be lucky to get to a similar figure again before retirement.

[M S E Refugee]

I wonder if some  of the Mumsnetters have considered getting a full time job to keep warm and save money on heating bills.

[Phil]

11 minutes ago, M S E Refugee said:

I wonder if some  of the Mumsnetters have considered getting a full time job to keep warm and save money on heating bills.

They should pop down the local small Heath  mosque and keep warm. Just finished a job in Birminghamistan. Call to prayer Friday. They could then go over the road to three cash points. At 12.01 Friday morning  the gov taxpayers money/labour/stolen hours goes in. It’s 12 deep for an hour, pulling cash out, your/our made up money ( stolen labour) goes into the believer’s accounts . Then the followers pop back to the mosque and feed the machine ( they are/were 90k short of the £1m needed to buy the adjoining land….. for a bigger mosque.
Gotta love productivity and diversity.

[CannonFodder]

26 minutes ago, M S E Refugee said:

I wonder if some  of the Mumsnetters have considered getting a full time job to keep warm and save money on heating bills.

Go on the game perhsps? - you could post that suggestion perhaps

[BadAlchemy]

1 hour ago, Animal Spirits said:

Why your pension pot will now run out 15 years early

Not mine! Got my SIPP fully loaded up with the lovely energy, telco, mining stocks etc and I'm in the process of moving a DC and an old stakeholder pension across to a second SIPP. Wish I'd done it sooner but wasnt really ready. Performance of them has been okay-ish but an eye opener to see how backward looking the various funds are currently... no, I do not want so much Astrazeneca, Apple, and Microsoft in my pension right now. Nor do I want all the commercial property ( especially the investment they have in the run down old shopping centre just down the road from me!). The stakeholder pension has also kindly started moving investments over to cash.. for my safety, as 5 years from selected retirement date... at a time when cash is getting whacked by inflation.

No, I believe I can do much better, thanks in no small part to the insights and knowledge of this thread. Thankyou all! Im not going to be working longer, or contributing more, or putting any plans off until later. They can all piss off

[reformed nice guy]

35 minutes ago, M S E Refugee said:

I wonder if some  of the Mumsnetters have considered getting a full time job

YABU

[Starsend]

1 hour ago, SpectrumFX said:

In relation to your point on peak earnings I updated a spreadsheet today in which I track my salary. It's got 25 years of data in it, and it's set up to restate all of the historical salary figures as per the RPI index.

On that analysis my peak salary was when I was 33, and I'd be lucky to get to a similar figure again before retirement.

I hit my peak salary 22 years ago - in nominal terms. Cunts that be (ctb) have been moving heaven and earth ever since to successfully push down my wages. I'll have the last laugh soon though when I retire and give the ctb the finger.

 

[M S E Refugee]

I really can't work out the hate for the Tories on Mumsnet considering that they have opened the borders and thrown Billions of pounds at the non- working population.

[CannonFodder]

Looks like someone has blinked in the Taiwan stand off

 

 

[XswampyX]

4 hours ago, DurhamBorn said:

"about 99 red balloons,and how one thing leads to another"

She's singing the wrong words! Bloody commies. 

 

[XswampyX]

15 minutes ago, CannonFodder said:

Looks like someone has blinked in the Taiwan stand off

Choke on it, you stupid bitch. 

[Loki]

28 minutes ago, Starsend said:

I hit my peak salary 22 years ago - in nominal terms. Cunts that be (ctb) have been moving heaven and earth ever since to successfully push down my wages. I'll have the last laugh soon though when I retire and give the ctb the finger.

 

It's All Gone Pete Tong 

[mcdongle]

Interesting talk with Arthur Laffer

 

 

 

[M S E Refugee]

UK becoming ‘emerging market country’ – Saxo Bank https://www.rt.com/business/560538-uk-becoming-emerging-market-country/

[DurhamBorn]

8 hours ago, SpectrumFX said:

In relation to your point on peak earnings I updated a spreadsheet today in which I track my salary. It's got 25 years of data in it, and it's set up to restate all of the historical salary figures as per the RPI index.

On that analysis my peak salary was when I was 33, and I'd be lucky to get to a similar figure again before retirement.

I was the same,my peak earnings were when i was 29 at GSK.Iv had close since,but never more.The key to my life was i learned about macro and cycles etc in my early 20s,so most of the times iv earned decent money its compounded up.Being able to be frugal has also been vital to my life.From that 29 i could just about live on the divis,hard then,but doable.It meant when i was working on good money i could save 80% of it and over time with investment gains it increased to where i now get investment income almost the same as my peak earnings.ISAs and SIPPs in tandem work very well for a tax free income.£16,700 tax free a year from a SIPP with Uncrystalised pension lump sums,then the ISA income.33% less income can equal the exact same income of a worker and less costs,its probably 50%

I did run some capital down though from 30 to 36 because i had 6 years off travelling around the country seeing different women.127 i think the tally was.No regrets at all on that,fantastic times.

Just a few investments that do very well can make a huge difference though.My dad bought some Anglo American just below £5,his divis on them last year were something like 45% on his initial investment.

This cycle can easily take even us on here down though,inflation and a government eyeing taxing any wealth in panic at what they have created.

[DurhamBorn]

8 hours ago, XswampyX said:

She's singing the wrong words! Bloody commies. 

 

Its her new version,updated for their industrial collapse.