news & politics:discussion

[stuie]

2 minutes ago, steviewevie said:

Anyway this lovely private pension thing just shows the unfairness in capitalism...there are winners and losers. Maybe it would be better if everyone paid into a pot based on income, and then when comes to retirement everyone gets the same amount. We could call it the state pension.

It's a grand idea. 

Wasn't it you that said they were going to retire at 55? 

Would this 'state pension' start then? 🙂 

[fraybentos1]

22 minutes ago, stuie said:

The first part is totally correct.  The second is a bit isn't true at all.  By far the safest long term investment to make is in property.  If you can use your equity to purchase further property and retire with these assets, which will increase in value over time, you'll be in a good position. 

Ok I’ll rephrase to - not having a retirement plan means you'll be f**ked in retirement. 
 

Investing in property takes way more effort and time than a simple direct debit into a private pension also. Also a way higher bar financially to get involved. Also f**k being a landlord 🐍

[fraybentos1]

15 minutes ago, steviewevie said:

Anyway this lovely private pension thing just shows the unfairness in capitalism...there are winners and losers. Maybe it would be better if everyone paid into a pot based on income, and then when comes to retirement everyone gets the same amount. We could call it the state pension.

We’ve got that already yep

and if you want to retire early and more comfortably like you said you did yesterday then that’s on the individual. So shut up about unfairness in capitalism when you’re doing it yourself 

[stuie]

1 minute ago, fraybentos1 said:

Ok I’ll rephrase to - not having a retirement plan means you'll be f**ked in retirement. 
 

Investing in property takes way more effort and time than a simple direct debit into a private pension also. Also a way higher bar financially to get involved. Also f**k being a landlord 🐍

Yeah the snake emoji was expected and why I nearly didn't post.  Not all property owners are c**ts.  Lots of effort, yes, but you can be a good one and provide a good home to people that need one, making next to zero profit apart from the rising property value. 

[steviewevie]

21 minutes ago, stuie said:

It's a grand idea. 

Wasn't it you that said they were going to retire at 55? 

Would this 'state pension' start then? 🙂 

I'm one of the winners.

[Neil]

56 minutes ago, fraybentos1 said:

A good pension fund isn’t ‘gambling’ and it’s poor advice to suggest it is. If you don’t have a pension you're basically f**ked, that’s the reality

It is gambling the money is passed to gamblers to gamble with and there's no guarantee that the amount will increse. If you can't recognise it as gambling your perceptions are screwed.. I don't have a private pension of any value but I'm not f**ked because other investments I've made have come good. Not as good as they'd be if I'd have accepted a million quid offer twenty years ago. one of my few regrets.

 

 

 

[fraybentos1]

6 minutes ago, stuie said:

Yeah the snake emoji was expected and why I nearly didn't post.  Not all property owners are c**ts.  Lots of effort, yes, but you can be a good one and provide a good home to people that need one, making next to zero profit apart from the rising property value. 

I’m not convinced that property values rising over say the last 30 years would beat a good return in stocks. And with way way more effort and tax implications. In fact I think the opposite.

 

 

 

[fraybentos1]

1 minute ago, Neil said:

no guarantee that the amount will increse

Overwhelmingly likely that a pension increases in value over your working life. Mental to think otherwise 

2 minutes ago, Neil said:

other investments I've made have come good

Such as? 
 

2 minutes ago, Neil said:

I'd have accepted a million quid offer twenty years ago. one of my few regrets

It must be some consolation that you just made it up completely?

[steviewevie]

Jordan firing missiles at Syria now.

[steviewevie]

House of Lords are the new enemy of the people.

[Neil]

1 hour ago, fraybentos1 said:

You said 20 years. You could easily invest yourself 20 years ago in a safe index fund. No need to enlist the help of anyone else who appear to have conned you.

Conned that was the pensions industry of the eighties. There's good reasons why there's been loads of pensions regulation since then. Loads of money was not a comedy character it was a documentary.

[lazyred]

15 minutes ago, stuie said:

Yeah the snake emoji was expected and why I nearly didn't post.  Not all property owners are c**ts.  Lots of effort, yes, but you can be a good one and provide a good home to people that need one, making next to zero profit apart from the rising property value. 

Thats one of the problems with property for retirement. The income after paying mortgage interest isn't great now interest rates are back to normal. You have to sell the entire property and pay capital gains tax to get at the money. A pension lets you take a bit at a time with 25% free of income tax.

[stuie]

5 minutes ago, fraybentos1 said:

I’m not convinced that property values rising over say the last 30 years would beat a good return in stocks. And with way way more effort and tax implications. In fact I think the opposite.

I guess it varies across the country.  Property purchased in 2004 for £90K now valued at £260K.  Some equity removed for further investments.  Will be my main residence for a certain period before it's ever sold for CG reasons.   Considering initial investment was £20K deposit plus renovations, I don't think stocks would give that ROI. 

 

 

[Neil]

8 minutes ago, fraybentos1 said:

Overwhelmingly likely that a pension increases in value over your working life. Mental to think otherwise 

Such as? 

Property and several businesses.

 

8 minutes ago, fraybentos1 said:

 

 

It must be some consolation that you just made it up completely?

Remember 365 corp who threw sway sh*t loads of people's pension funds.which I could have had.

[Neil]

2 minutes ago, lazyred said:

Thats one of the problems with property for retirement. The income after paying mortgage interest isn't great now interest rates are back to normal. You have to sell the entire property and pay capital gains tax to get at the money. A pension lets you take a bit at a time with 25% free of income tax.

You don't have to pay CGT if you do it right.

[fraybentos1]

3 minutes ago, Neil said:

Property and several businesses.

 

 

Your own property that you live in or other properties?

[steviewevie]

 

[lazyred]

14 minutes ago, steviewevie said:

Jordan firing missiles at Syria now.

Looks like an ongoing campaign against drug smugglers. Syria are producing and traffiicking Captagon.

[stuie]

2 minutes ago, steviewevie said:

 

Someone should tell him the will of the people is to have a general election. 

[Neil]

8 minutes ago, fraybentos1 said:

Your own property that you live in or other properties?

Both. and council rentals are easyish to get for old codgers like me .

[Neil]

6 minutes ago, stuie said:

Someone should tell him the will of the people is to have a general election. 

And to abolish the appointed house of leeches .

[fraybentos1]

1 minute ago, Neil said:

Both. and council rentals are easyish to get for old codgers like me .

Ah Mr Left wing actually invests in property lol, very good 

[fraybentos1]

Just now, Neil said:

And to abolish the appointed house of leeches .

You could argue landlords are leeches couldn’t you 

[Neil]

Just now, fraybentos1 said:

Ah Mr Left wing actually invests in property lol, very good 

Have to live somewhere and that's paid off handsomely

hottest area in the country for property.

its been earning more than I have and completely tax free .

[Neil]

2 minutes ago, fraybentos1 said:

You could argue landlords are leeches couldn’t you 

I could and your mate the left wing banker. And pension salesmen.