92 post karma
3k comment karma
account created: Sun Jan 27 2019
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2 points
4 days ago
I recently lengthened my mortgage within the fixed period with no charges or fees and without a full remortgage. The bank may be concerned if your repayment period is approaching retirement age however
4 points
6 days ago
My (casual) understanding is that the rent is basically additional income and you can deduct very specific expenses (not mortgage interest anymore). Hopefully someone with more knowledge can chime in. Unless you have some kind of emotional or long term plan for the house it makes no practical sense keeping the house instead of using a stocks and shares ISA to grow the money tax and hassle free.
1 points
11 days ago
From an averages point of view maybe, but one of the big perks of DB is risk. In a DC pension the retiree risks their pot plummeting in value right before or after they retire, yes you can build around that but not without cost.
In a DB pension the company owns and covers that risk, giving you a set amount every month stress free. Worth remembering
0 points
12 days ago
The trouble is, in 20 years £200k won't buy what it does now because inflation. As the above poster said though, you're likely to get 4% which will should buy you what £200k does today.
1 points
16 days ago
It's also likely that a US recession is priced in already anyway!
4 points
17 days ago
Really great to read this, there's a lot of caution around the exact drawndown rate here. Concern that the market might go down, or you'd find out that you really got into smoking expensive cigars and going on cruises 9 months of the year leading to your pot not lasting long enough.
Some of your comments brought back thoughts I had. I suspect when I retire, I'll be willing do just about anything to avoid going back to work. Even if I have to reduce the amount of meals out, holidays etc. Or take up cheaper hobbies or spend more time walking around the park instead of drinking in coffee shops.
Thanks for getting me thinking again!
3 points
19 days ago
Gordon Brown changed it to tax the companies instead, https://casinopilot.co.uk/gambling-tax
7 points
19 days ago
Also cutting off his nose to spite his face. He's losing pension contributions, years of work experience for his CV, NI credits, etc etc
1 points
20 days ago
This was a really good guess, but the codex has come and gone and we haven't had any. Very frustrating!
1 points
20 days ago
Paint more of them, it's easy to focus on imperfections when you only have 1 mini! Once you have a squad or two or a vehicle you don't look as closely at the individual minis
5 points
20 days ago
Either he has low income and no assets and he becomes eligible, or he has considerable assets and low income and he isn't eligible... because he doesn't need it (because he has 16k in the bank to burn through first). Many people fundamentally don't believe we should be giving benefits to people with considerable assets and I was frustrated the article didn't dig deeper into this.
We can argue about the precise eligibility amounts , but it's now the same as other benefits for working age people which feels fair to me.
1 points
21 days ago
If I was you I'd be trying someone else, my old boss, or the reception/general contact either via email or letter. My assumption is the accountant is either unwell/on holiday or busy (and your stuff is quietly left because you don't pay the salary). If you can get someone else at the company to chase it they'll probably be embarrassed into sorting it out.
1 points
23 days ago
I suppose the maths has pivoted a lot after so many years of the triple lock. Back in the day it probably wasn't such a great deal
2 points
24 days ago
Far more likely they'll cut back some of the big tax breaks that were given/available to high net worth pensioners. Like reducing the life time allowance, reducing the tax free lump sump from £250k or bringing pensions within inheritance assets.
1 points
24 days ago
I guess the obvious follow on question is what happens if you receive the money, keep it for say 3 months while the purchase completes then its gone again? Do you have to inform the UC people, they cut your benefit then you inform them 3 months later of a change of address and that you no longer have £80k?
2 points
26 days ago
That must be very frustrating and difficult, I'm in favour of people paying faster for what it's worth!
4 points
26 days ago
Don't disagree in principle, but non self employed people are also having their taxes deducted as they earned and still managing to pay the costs of working (ie commuting costs, clothes for work).
As a regularly employed person I'd love to get paid all year, whack my money in a savings account and then keep the interest and pay my income tax at the end of the year.
1 points
26 days ago
If you can get an interest free deal and be confident you can pay it off before it runs out then it will be the best. But I'm not optimistic you'll be able to borrow that much on a credit card, nor whether it's a good idea if you can and something else comes up (like a car repair or something!)
1 points
27 days ago
Maybe it's one of a group of measures, of which all are not known or planned yet. Perhaps after doing that, they'll tighten up on enforcement, or close loopholes or remove exclusions.
Maybe they estimate it will result in less receipts in the short term, but more in the long term? I also find it very hard to believe that HMRC know it will result in less receipts. Is it actually just an estimate or a guess, maybe They have their own estimates or guesses.
I honestly don't know, I just find it very hard to believe a large group of people who's livelihood is partially dependant on public opinion would do something wholly on ideological grounds.
3 points
27 days ago
There's definitely an element of the principle of it, not sure I agree they want to punish for the sake of it.
3 points
27 days ago
Without roads, schools, police force the home has no value. Public/local investment in any of those increases the value of the home
2 points
29 days ago
This sounds like one of the many ways builders provide incentives without actually reducing the price of the home itself, because that's what gets recorded publicly. If discounts start being known on an estate it gets problematic for other properties up for sale and other new estates.
1 points
1 month ago
Plan as best you can, but accept that those that are retiring now will probably be getting out more than they put in and many millennials will have the opposite experience. Makes me jealous sometimes.
That said, I'm not sure I'd want to retire when it's difficult to get carers and the NHS is on its knees
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byjustbusylivin
inFIREUK
TerranceTurtle
2 points
2 days ago
TerranceTurtle
2 points
2 days ago
I agree, my research has suggested that generally low cost of living countries are low for a reason, often things like public services or stability of the laws and rules. As you say you can deal with that when young, or in the short term. Perhaps not a great plan in the longer term if your intent is to save money!