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>> No. 8022 Anonymous
28th November 2020
Saturday 5:26 pm
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In strictly income related terms, what is 'doing alright' in 2020? What is middle class?

There are rules of thumb that were established a long-time ago, earning your age being something of a minimum standard while earning 40-60k meant you owned an Aldi. You will probably notice that these rules originate from the 00's though and while calculators do exist they seem to apply national averages which seems odd as a large bottom doesn't mean you eat lots of camembert.
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>> No. 8028 Anonymous
28th November 2020
Saturday 6:55 pm
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The median income for taxpayers is £22,400 and the median household income is £29,600. If you earn more than that, you're doing better than most people. What kind of lifestyle that affords you depends very much on where you live and whether you have kids.

With that said, I think that beyond the level of near-poverty, "doing alright" is much more about managing your expectations, living within your means and building yourself a secure financial foundation. A lot of people who earn well above the average still feel poor, because they compare themselves to an unrealistic standard. A lot of people who could live comfortably are beset by constant money worries because they're living beyond their means.

Having a nice car or a big house doesn't actually make much difference to your day-to-day life, but being financially secure is life-changing. Pay off your debts, build a rainy day fund, take night classes to add another string to your bow and you'll play the rest of your life on easy mode.
>> No. 8029 Anonymous
28th November 2020
Saturday 7:29 pm
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>>8028
Median earnings for full-time employees are just over £30,000. I'd have posted an image but this board is still fucked.
>> No. 8030 Anonymous
28th November 2020
Saturday 9:30 pm
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>>8029

That's setting the goalposts rather arbitrarily, not everyone is a full time employee but the concept of class and relative prosperity applies to us all.
>> No. 8031 Anonymous
28th November 2020
Saturday 9:34 pm
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http://home.bt.com/lifestyle/which-class-are-you-test-which-of-britains-7-new-classes-you-belong-to-11364027532575

7 years ago there was talk of 7 new classes and there was an online quiz to tell you what you were but it is now unfortunately defunct.
>> No. 8032 Anonymous
29th November 2020
Sunday 8:27 pm
8032 spacer

https://www.youtube.com/watch?v=u5pxhSnDr4U

What do you lads make of this years WEF topic?

There is a heap of conspiracy theorist prattling elsewhere online. Normally I'd shrug, but given what's happening with COVID and other prevailing political trends I'm worrying that this 'Great Reset' will end up being a reboot of Feudalism.

I'm reading 'Neo-Feudalism' by Joel Kotkin rn, which probably isn't helping matters.>>8031>>8031

whiteline
>> No. 7993 Anonymous
9th October 2020
Friday 1:17 pm
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I've made the classic mistake of telling people I invest my money. Just my retired parents but I've been asked if I can help start them on doing something with their retirement savings (not their workplace pensions) which I've found out today is "not doing anything" (!)

Of course, I'm going to need to get them talking to a financial adviser but I should make sure I'm clued up myself. Since their retirement they've noticeably slowed down and will probably need me to explain things, make sure they're not getting doing anything stupid and help them manage more and more as time goes on. Any idea on where to start with specifically investing in retirement? It's going to be quite different to how I manage my money now (1. buy high 2. scream) but looking over a few guides from investor platforms I'm unsure on advice around bonds as they're not exactly the stellar investments they once were and putting a big chunk in an annuity scares me.

Just think, soon they might even have a free parker pen DEM CROSSWORDS WNT KNW WOT HIT 'EM
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>> No. 8017 Anonymous
25th October 2020
Sunday 10:16 pm
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>>8015
>My HSBC FTSE 250 tracker is the worst

Gave me a chuckle as I'm in that too. Oh what I silly time for me to invest some more money last month just before the FTSE shit the bed - how I laughed heartily as I slipped into the red.

Are you also the lad who mentioned FB WHEB Sustainability? I saw it while poking around and gave it a punt. Been fairly stable that one.
>> No. 8018 Anonymous
25th October 2020
Sunday 10:50 pm
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>>8017
>Are you also the lad who mentioned FB WHEB Sustainability?

Think that must be otherlad. My only fairly stable ones over the past year, that have done well, are Fundsmith.
>> No. 8019 Anonymous
29th October 2020
Thursday 6:38 am
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I just stuff all of my money into Bitcoin, Ethereum, and gold. I own a little bit of land, and I'm still paying of some property. Perhaps I'll but more land in a decade. Fuck getting rich in the short term, preserving wealth in the long term is the safest way to go considering all of the shit that has happened recently. I don't trust central banks with how much money they've just miraculously printed into the economy. The only thing keeping stocks up right now are pension funds I reckon. It's a zombie economy, and It's going to collapse. Pack rice. And tea.
>> No. 8020 Anonymous
29th October 2020
Thursday 7:54 am
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>>8019
>The only thing keeping stocks up right now are pension funds I reckon. It's a zombie economy, and It's going to collapse.

People have been saying this just about every time investing has been brought up over the past 10 years on here.
>> No. 8021 Anonymous
29th October 2020
Thursday 8:46 am
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>>8020
Every investment forum in the past 100 years has people like him. You can afford that worldview if you already have property and gold.

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>> No. 3840 Anonymous
19th September 2013
Thursday 10:03 pm
3840 Pensions
The OFT have come out and said that many old (i.e. set up before 2001) pension schemes have high charges and offer savers poor value for money. They've also suggested a cap for auto-enrolment schemes, but it's going to be an almost meaningless gesture as you'd be very hard pressed to find a provider offering auto-enrolment terms with annual management charges greater than 1% anyway.

http://www.bbc.co.uk/news/business-24153012

The pension scheme I'm in at work (contribution: 5% employer, 5% employee gross) has management charges of 0.6%, which I'm alright with as it's less than I'd get if I was investing in collectives through an ISA.

However, I've put the charges and contribution details into Invidion's pension calculator for an idea of what I'd get when I'm 65, 40 years from now, and if my salary increases in line with National Average Earnings and I took the 25% tax-free lump sum I'd be looking at a pension in today's terms of 27.5% of my current salary. If I wanted a pension that would be about two-thirds of what I'm earning now then I'll need to contribute, assuming the employer contribution stays at 5%, 15% gross (12% net) of my salary every year for the next four decades. This does depend on what annuity rates will be like then and I'd also be getting the State Pension, as long as they haven't upped the age you receive it to 80 by then.

If it wasn't for the tax relief and my employer matching my contributions then I doubt I'd bother and I'd look into other ways to support myself while I'm in retirement. What about you lads? What are your thoughts on pensions? In my opinion to have any form of decent retirement income you're at the mercy of your employer offering a good pension scheme.
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>> No. 7965 Anonymous
6th August 2020
Thursday 5:50 pm
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>>7962
FAANG stocks are booming at the moment and will for a while - I am out of gold and back into them right now.
>> No. 7975 Anonymous
15th September 2020
Tuesday 1:31 pm
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The Court of Appeal have rejected the challenge from WASPI to be compensated for the female State Pension age increasing from 60.

https://www.bbc.co.uk/news/business-54158832
>> No. 8006 Anonymous
12th October 2020
Monday 12:45 pm
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Got my annual pension statement today. Apparently my pot could be worth £105,000 at retirement, which will provide me with a whopping £220 per month.
>> No. 8007 Anonymous
12th October 2020
Monday 2:05 pm
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>>8006
You'd only have to live to 107 to be in the black, off that.
>> No. 8008 Anonymous
12th October 2020
Monday 2:12 pm
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>>8007
The assumptions used by providers are known to be overly pessimistic so I'm taking them with a pinch of salt. That said, the 'safe withdrawal rate' of 4% would only be £350 per month.

whiteline
>> No. 7978 Anonymous
6th October 2020
Tuesday 7:50 pm
7978 Crypto Currencies
Any interest in a general crypto currency thread? The old Bitcoin one dates back to 2013 and things have moved on a bit since then. I got interested in them earlier in the year and have invested a few grand now, have just been picking up some coins here and there when the prices dip. I'd previously dabbled in funds and shares but was looking for something a bit less dull and with a higher risk/reward ratio.

There are some interesting projects using blockchain technologies that sound like they have potential, I think the Bank of England and the EU are working on their own crypto-currencies and China has one nearly ready to launch. It will be interesting to see where things go over the next few years, one hot topic lately has been decentralised finance (de-fi) where all sorts of financial products can be offered using blockchain tech removing banks etc. from the process entirely. This seems like one of the major benefits to me, carrrying out transactions peer-to-peer without involving any third parties although all exchanges these days require you to provide ID so it's not exactly untraceable, and there is no-one that can help if you lose your private keys or get your coins stolen.
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>> No. 8001 Anonymous
10th October 2020
Saturday 8:11 pm
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>>8000
I understand it, on a surface level. Yes, it's like a shit Neuromancer.
>> No. 8002 Anonymous
10th October 2020
Saturday 11:49 pm
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>>7999
> MTGOX

One of the funnier bits of bitcoin history.
>> No. 8003 Anonymous
11th October 2020
Sunday 10:49 am
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>>7999

Interesting as I just saw an article published just this mornng suggesting that MtGox were holding large sums of BTC from the Silk Road. Sounds perfectly plausible to me.

https://medium.com/@cryptowhalex/the-silk-roads-biggest-mystery-444-000-bitcoin-are-still-completely-missing-from-the-original-e68b8867d26a

>>7999

I know a couple of people who lost bitcoins in the hack if they were ever to be returned they would become fairly rich, I believe the Japanese authorities set a final deadliine recently of October 15th for submissions to the rehabilitation plan but this shit has been dragging on for many years now so who knows what might happen.
>> No. 8004 Anonymous
11th October 2020
Sunday 10:58 am
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>>7999

If you enjoy speculation about the identity of Satoshi you might like this 3 part documentary - a you tuber does quite a bit of research into it. The name he comes up with is not one I hear mentioned often, and it's not Hal Finney although he does get a mention.


>> No. 8005 Anonymous
11th October 2020
Sunday 5:12 pm
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>>8004

Three part documentaries that could be three paragraph articles can fuck right off into /101.

Sorry lad, I'm sure you mean well.

whiteline
>> No. 7939 Anonymous
11th July 2020
Saturday 9:52 pm
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The cut in stamp duty has opened the door for me to be able to buy a flat in near the city for myself -so long as I borrow 2k from my parents and use help to buy. I looked at what that really means which is that I can afford a small flat in Kingston by the sewage works with 2 hours commuting everyday.

Lads, is it still worth it? Yeah, my money isn't magically disappearing every month but my quality of life would be worse and, at 30, I will likely look to move in a few years with some bird. Still, there's a money factor involved so I've been fretting all week. Should I keep looking into this or just forget about it?
Expand all images.
>> No. 7941 Anonymous
12th July 2020
Sunday 8:03 am
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>>7939
It's always a good time to buy your own place if you can get the funds together and deal with the 6 months+ heartache it all tends to take. If your parents are able to help you, then take that help; most of us don't get it and you and they are lucky to be able to do it.

Commuting is rapidly going out of fashion. Depends on what job you're in, of course, but I think the homeworking/flexible hours thing is here to stay.
>> No. 7976 Anonymous
19th September 2020
Saturday 2:44 pm
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>>7941
I broadly agree, but there is a big difference between a free hold, a lease hold and owning a flat. The former has no "hidden" fees, the middle has ground rent which tends to be fairly nominal while the latter has service charges which can easily reach several thousand pounds a year. So on top of your mortgage your effectively still paying rent. Make sure to have a chat with other owners in the building if you buy a flat to find out how onerous the lease holders are. And (fat chance in The City) if several of you are long term owners, see if you can acquire the lease nad form a co-op.
>> No. 7977 Anonymous
19th September 2020
Saturday 4:27 pm
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>Cut in stamp duty

ike all these sorts of actions this will just lead to increased house prices. It is good only for speculators, builders and boomers. I fucking hate it.

whiteline
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>> No. 7464 Anonymous
24th February 2019
Sunday 3:15 am
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I've come to seek some very serious financial advice. I'm in my mid thirties but I've never borrowed a penny from an official institution. I'm not quite a pikey but I'm not that far removed if I'm being honest. I've grown up in a culture of working for cash and buying things for cash. Debt is a dirty word in my family and I've always lived within my means.

I've been quite frugal over the years and have managed to put together about 90k in savings. My employment history is sketchy at best and although I've been working since I left school, there are some serious gaps in the official records when it comes to my income.

For the past six months I've been self employed with about 80k a year coming in. All declared and above board.

I've always assumed that I couldn't get a mortgage and I'm still doubtful but I thought it might be worth asking some strangers whether I'm right.

My current overheads are pretty low and at a push I can save a good few grand a month after tax and rent etc. That means I could potentially have a lot more in the bank in the near future.

I desperately want to own a house and I know I could buy something tiny in a shit place with the money I have but I've recently been wondering what I could get if a bank would lend me a big chunk. I don't want anything fancy but it would be nice to have some space in a nice area.

As I said I know nothing about debt so my main questions are do I have any chance of getting a mortgage with only 6 months of official financial stability (and no credit history), and if so, how much would they lend me with 90ish as a deposit?


Message too long. Click here to view the full text.
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>> No. 7970 Anonymous
2nd September 2020
Wednesday 11:50 am
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I'm decently well off but it have a presumably atrocious credit rating due to my callousness and/or stupidity in my early 20s. I'm actually kind of scared to even look.

I've always heard that the best way to rebuild your credit is by doing stuff like having a credit card and paying it off every month. But I've also heard it's better to actually be slightly in debt and paying it off, because then you're seen as a desirable (ie profitable) customer. Where's the truth in all that?

Not wanting to hijack the thread but what should I be looking to do if I'm aiming for a mortgage in the next three to four years and I've got a couple of defaults in the past, but haven't touched credit since?
>> No. 7971 Anonymous
2nd September 2020
Wednesday 12:57 pm
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>>7970
I recommend checkmyfile.com as a place, for when you want to look and understand how the ratings work.

Different lenders want different things is the answer - you need some record of lending, but there are lenders who want people who pay everything off and keep no debt, and there are others looking for people who are happy to carry debt (and capable of paying it off) - just depends on their own risk appetite.
>> No. 7972 Anonymous
3rd September 2020
Thursday 12:53 am
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>>7969
I started thinking that I could cheat the system by paying any credit card purchases off right away. Then, of course, I found out that if you pay it off too often in a given month you equally look sloppy with money. A more cynical man might think this is all an elaborate scam to get people into debt - thereby making the balance sheets look better than they are while creating social control.

I've spent my whole life ignoring pretences and thumbing my nose at authority but now look at me. And I'm only just starting to learn how mortgages do horrible things to people. The banks will probably have me in a dress by the end of the month. Then when I finally do own a home I'll become a petty neighbourhood tyrant in a myopic quest to protect my 'investment' over all else.
>> No. 7973 Anonymous
3rd September 2020
Thursday 1:53 am
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>>7972
>The banks will probably have me in a dress by the end of the month.

Can't say I've ever heard or thought of that, but will definitely suggest it at work tomorrow.
>> No. 7974 Anonymous
3rd September 2020
Thursday 2:23 am
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>>7970

As mentioned upthread, you can get a free credit rating and personalised advice on how to improve it at the link below.

https://www.moneysavingexpert.com/creditclub/

whiteline
>> No. 7944 Anonymous
24th July 2020
Friday 5:27 pm
7944 HMRC Shittiness
So I've just received entirely out of the blue from HMRC, a demand for inheritance tax of a few thousand pounds, dated about 13 years ago.
I've never received any inheritance in my life. The only thing that could vaguely be linked to anyone I know would be a few hundred stuck in my ISA at the time which could have came from my grandparents before they died a few years later but that's a huge longshot as it would have been from cash via my parents.

What do I do next? The only option I can see is sitting on the phone all day when they open monday and asking for proof.
My assumption would be that they've got me mixed up with someone else but I don't know what my recourse is.
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>> No. 7955 Anonymous
27th July 2020
Monday 12:44 am
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>>7954
And as >>7953 says, pick the number off their website, not any communication you've received.
>> No. 7956 Anonymous
27th July 2020
Monday 9:47 am
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>>7955 Have you typed a couple of key sentences from the letter into google, see if it's a common scam?
I'd say, if you can't get through to them easily, then just ignore it and wait to see if another letter arrives. If it's genuine (and it isn't), the taxman can hardly fault you for not jumping to attention on a 13 year old matter they've just dug up, especially as you know it's bollocks.
Scammers rely on the feeling of panic to get people to pay. Treat this like an Indian sounding dude calling from Microsoft to discuss the viruses on your BT line. It's only getting to you because it's your first go round.
>> No. 7958 Anonymous
27th July 2020
Monday 9:53 am
7958 spacer
Solved (touch wood)
The number on the letter was the debt management team, they couldn't do anything other than payment so they told me I had to ring the inheritance tax team.
Got passed around 3 different people before getting through to someone who could help.

Apparently, as I thought in my earlier post, the person who died had the same name as me (very rare surname, common as muck first name), and seemingly in passing the records onto the debt management team someone hasn't checked the details right.
Should get a letter in a few days confirming I have no connection to the debt.

To the people saying it could have been a scam:
Yes I know there are a lot of scams along these lines, and I would give anyone else the advice to treat it as such. But I know what to look out for and at no point in this particular scam was there anything to suggest otherwise, with the exception of that first phone number on the letter not being published on the internet.
>> No. 7959 Anonymous
27th July 2020
Monday 12:13 pm
7959 spacer
>>7958 the person who died had the same name as me

This seems like a bit of a punt, even for a debt collection arm.
Surely looking for someone still alive would improve their chances.
>> No. 7960 Anonymous
27th July 2020
Monday 3:52 pm
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>>7959

Odd as it might seem, inheritance tax is levied against the person who died rather than the people who inherit their estate. The reasoning is perfectly sensible albeit rather complicated, but it does lead to the uncomfortable fact of debt collection agencies chasing after dead people.

whiteline
>> No. 7934 Anonymous
11th July 2020
Saturday 6:55 pm
7934 spacer
How crazy is it to buy a flat/house in Liverpool area as an investment?

Are there any chances of development in this area or it will stay as it is for the foreseeable future? I am quite sure it won't return to the past industry (pic very much related).
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>> No. 7937 Anonymous
11th July 2020
Saturday 8:47 pm
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Prescot is an absolute shithole right now, but it's on the cusp of major regeneration. They're building a £20m Shakespearean theatre which is due to be completed in 2022; they're also putting £14m into a new train and bus station. You can get a modern two-bed flat for less than £80k, which I reckon is a safe bet with considerable potential upside.
>> No. 7938 Anonymous
11th July 2020
Saturday 8:56 pm
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>>7936
Property investing allows for leveraging. £20k in equities in ISA doesn't look as attractive when it's compared to being used as a deposit on a ~£100k house.
>> No. 7940 Anonymous
11th July 2020
Saturday 9:59 pm
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>>7938
>£20k in equities in ISA doesn't look as attractive when it's compared to being used as a deposit on a ~£100k house.

I've never known an ISA to need an emergency plumber or tenants kicking out. If you're leveraging that kind of investment then you need a good wash and putting in the cupboard because you're a mug.
>> No. 7942 Anonymous
12th July 2020
Sunday 8:04 am
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>>7934
I know lots of people who have moved from the South to the area because it is affordable. Lots of areas around Merseyside are very decent places to live.
>> No. 7943 Anonymous
12th July 2020
Sunday 10:36 pm
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We've got the best organised crime outside of London. Try Seascale instead.

whiteline
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>> No. 7541 Anonymous
4th June 2019
Tuesday 7:03 am
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One of the UK's most high profile stock-pickers has suspended trading in his largest fund as rising numbers of investors ask for their money back. Neil Woodford said after "an increased level of redemptions", investors would not be allowed to "redeem, purchase or transfer shares" in the fund.

Investors have withdrawn about £560m from the fund over the past four weeks. However, it was a request from Kent County Council to withdraw £250m that led to the suspension.

At its peak, the Woodford Equity Income fund managed £10.2bn worth of assets, such as local authority pension funds. However, it now manages £3.7bn, according to the financial services and research firm Morningstar. Mr Woodford's firm, Woodford Investment Management, is also the biggest investor in Kier Group, the construction and services group which on Monday warned on profits, sending its shares crashing 41%.


https://www.bbc.co.uk/news/business-48506032

"But he hasn't got anything on!" the whole town cried out at last. The Emperor shivered, for he suspected they were right. But he thought, "This procession has got to go on." So he walked more proudly than ever, as his noblemen held high the train that wasn't there at all.
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>> No. 7908 Anonymous
8th June 2020
Monday 5:52 pm
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>>7897
I'm a twat so take what I say with a pinch of salt: Fuck bonds.

As the other lad pointed out, corporate is risky at the moment. Government bonds are equally not worth bothering with because, while being secure, the return isn't much better than leaving it in your bank account.

This will be different if you're about to retire but it's perfectly possible to have a diverse portfolio in equity that doesn't pose greater risk. If the LSE and NYSEs shit the bed then we've frankly got bigger things to worry about.

>>7906
Why wait? It involves paperwork but you can move ISA platform whenever you want. The restriction is you that can't pay into another one.
>> No. 7909 Anonymous
8th June 2020
Monday 7:10 pm
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>>7906
No, you don't even have to wait until next tax year though.

Vanguard LS60 and the HSBC Global Strategy Balanced Portfolio are both classed as a risk 5 out of 10, so you might want to consider something with more risk depending upon your time horizon.
>> No. 7930 Anonymous
18th June 2020
Thursday 2:36 am
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I'm looking at funds on the Vanguard website right now and there's a boggling array to choose from. How exactly do you go about picking the right one? I'm assuming if you've only got around 5k to invest then you're better off on the riskier side of the spectrum?

I see they offer various "LifeStrategy" funds as a no-brainer option, but why would I go with one of those if I see that the US equity index fund is doing consistently better?
>> No. 7932 Anonymous
18th June 2020
Thursday 7:56 am
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>>7930

The LifeStrategy and Target Retirement funds include a mix of bonds and shares - bonds are safer than shares, but have weaker returns.

If you've only got a small amount to invest and you're not yet a homeowner, your best bet is probably a Lifetime ISA - the government will give you a 25% bonus on everything you save if you use the money to buy your first home.

If you're an employee, make sure you're making the most of your workplace pension scheme. You can usually make pension contributions from your pre-tax income, so it's the most effective way to save for retirement.

https://www.moneysavingexpert.com/savings/lifetime-isas/

https://www.moneysavingexpert.com/savings/discount-pensions/
>> No. 7933 Anonymous
18th June 2020
Thursday 8:12 am
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>>7930
It all depends on what your aims are, how long you're going to be investing for and how comfortable you are with risk/how much you are prepared to lose.

The LifeStrategy funds were launched when they tried to break into the UK market and they invest in a number of Vanguard's own funds with different set equity and bond weightings for various levels of risk. They're relatively overweight in UK equities because they had anticipated that UK investors would prefer a bit of a home bias; LS100 is roughly 25% in UK equities whereas they make up roughly 4-5% of global market capitalisation.

If you're young and investing for a while chances are you'd be best off with a global equity fund. You could invest entirely in US equities but most people invest globally because they're trying to manage risk through diversification and there's no guarantee the massive bull run in America will continue; it's propped up heavily by stimulus which they had been starting to unravel and if the £ strengthens against the $ it could wipe out most of your gains.

whiteline
>> No. 7878 Anonymous
6th June 2020
Saturday 12:29 pm
7878 Looking to buy an occasional flat in South London.
My husband told me not to post this but we are looking for a property that we can spend a few hours in each week.

It needs to be close to pubs and clubs but away from any noise. A safe room would be a bonus but we think we can cope without one.

My budget is 1 Million pounds sterling.

Any help would be welcome.
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>> No. 7925 Anonymous
17th June 2020
Wednesday 12:51 pm
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>>7896

I hate to say it, but after looking locally, I'm not sure London is ever the answer. Look at this fucking monstrosity - I absolutely love it. Look at the fucking pool.

https://www.rightmove.co.uk/property-for-sale/property-74326684.html
>> No. 7926 Anonymous
17th June 2020
Wednesday 1:13 pm
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Sorry I'm posting here with actual millionaires (even if it's not liquid)?

Fuck me I thought we were all uni and early career lads getting Tesco 2 for £10 meals.
>> No. 7927 Anonymous
17th June 2020
Wednesday 1:23 pm
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>>7926

I was all that ten years ago. If you study hard at a useless degree and accidentally fall into a completely different career amd fail upwards, you too could be booking a viewing of a mafia mansion in 2030.
>> No. 7928 Anonymous
17th June 2020
Wednesday 1:25 pm
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>>7926
I'd have said the average age here is about 30 to 35, but there's certainly old farts amongst us.
>> No. 7929 Anonymous
17th June 2020
Wednesday 1:41 pm
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>>7926
I'm with this lad. No idea everyone on here was on 6 figures.

If one of the mintedlads on here wouldn't mind chucking us a few grand...

whiteline
>> No. 7910 Anonymous
12th June 2020
Friday 8:27 pm
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I've never had a loan before, but a car that I really want to buy has come up. It's about £5k, which I don't presently have in cash. With the interest rates and shit plummeting, is now a good time to get a small loan for a first time?

I have a credit score of 999 according to Experian, have never missed a payment on anything (and pay all my credit cards off in full every month). I work full time and was considering getting £5k over 18 or 24 months.

Any tips for a first time creditee? Should I just go with my bank (HSBC) or a dedicated car loan? I'll be buying privately.
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>> No. 7919 Anonymous
12th June 2020
Friday 10:10 pm
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>>7918
I was actually going to comment on that; my current car gets about 30mpg average (35 if I'm careful), and the LS400 gets 23 (27 if you're careful), so it wouldn't be a massive amount different in fuel considering I only do about 5,000 miles a year, most of which are motorway. It's a strictly pleasure and convenience car - I wouldn't buy it for commuting.
>> No. 7920 Anonymous
12th June 2020
Friday 10:20 pm
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>>7919

I assumed you knew what you were getting yourself into, though I will say that 20mpg really does feel a lot, lot less than 30mpg in real world conditions, though if you're mostly going for motorway cruises it won't be so terrible. And the option is always there for an LPG conversion - if I buy one (and I probably will, I have a JDM fetish) then that's what I'll do, a little 50 litre tank in the spare wheel well.

I'm definitely not judging, my supercharged mini does 25mpg ish, and that's my daily driver.
>> No. 7921 Anonymous
13th June 2020
Saturday 8:21 pm
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Got a loan from HSBC 6.1% for 30 months (and as and when I can, I will be overpaying), so a total of 5390 on 5k which is fine by me. It's my bank too so there's just less faff or people to deal with.

Took it for a test drive today and it's absolutely mint. Getting it tomorrow.
>> No. 7922 Anonymous
13th June 2020
Saturday 8:33 pm
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>>7921

Good stuff lad, please do post a photo/thoughts of it in the /mph/ thread.
>> No. 7923 Anonymous
14th June 2020
Sunday 7:53 am
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>>7921
Nice work, that's a very reasonable price for a loan - if you can get it from your bank, they are usually the cheapest.

whiteline
>> No. 7872 Anonymous
14th May 2020
Thursday 1:03 pm
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If I receive a marketing email which starts with "The global market for robots is expected to grow at a compound annual growth rate (CAGR) of around 26% until 2025." then it's most likely to be bollocks, right?

https://www.legalandgeneralgroup.com/media-centre/press-releases/lgim-launches-robotics-and-automation-unit-trust-index-fund/
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>> No. 7873 Anonymous
14th May 2020
Thursday 11:00 pm
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Yes. If it's from an unsolicited email it is a scam.

You can get around >10% at high risk doing ForEx, you can certainly make 20-odd percent if you gamble right, but like all gambles you can also lose all of it. These kinds of gains are for short term gamblers. Sure, you can bet big and if you hit it big you can say I told you so but for the most part you'd need someone who is incredibly well versed in a particular industry to second guess it.

If you don't expect to make enough profit to pay a personal accountant (hey they can be cheap around £150) every year, don't bother.

whiteline
>> No. 7867 Anonymous
9th May 2020
Saturday 4:04 pm
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I plan on making the move from investing in funds to buying shares directly. This being because it seems impossible to find funds that invest in the UK (not companies "based" here) and also avoid a tech bubble in big data. I've sold everything in one under-performing fund and now have £2k to go about doing this.

As this will be my first proper trade I thought I'd see what you lot reckon ahead of next week:

Objective
I'd like to own a house one day but don't make much money so I'm trying to be smarter with what I save using long-term investments. At the same time, I like my money to be about more than returns so I started out looking at UK firms with significant operations outside of London which provide jobs.

Story
My plan is to split 2k 50:50 between Sainsburys and Clipper Logistics. My underlying theory being that post-Covid-19 will see growth trends away from large metropolitan cities over the next 5-10 years. Clipper Logistics handles deliveries for retail and could capitalise on this quite well if the trend is true but they also have good general ideas on things like the growth of shared warehousing. Sainsbury's has been declining in recent years but still seems like a solid defensive investment with good growth in groceries and banking.

What do you reckon? It's probably in the 'wuss bets' area but seems like a nice start.
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>> No. 7868 Anonymous
9th May 2020
Saturday 5:54 pm
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I'm not questioning your logic or financial experience, but bear in mind that markets (and the world in general) are highly unpredictable. When you pump your money into the shares of only two companies you're increasing your exposure to this inherent risk. By all means go for it but treat that money like you would if you'd budgeted it for a casino, i.e. a profit would be lovely and that's the aim but it's not the end of the world if you lose everything. Being sanguine is a quality you'll have to acquire if you plan on investing in individual enterprises.
>> No. 7869 Anonymous
9th May 2020
Saturday 6:34 pm
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>I'd like to own a house one day but don't make much money so I'm trying to be smarter with what I save using long-term investments

You'd be better putting more effort into increasing your income.
>> No. 7870 Anonymous
10th May 2020
Sunday 12:37 am
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You' know what, fuck it. Trying to do interesting things is already turning into far too much work. I'll just stick with my funds and probably even move to a FTSE DD so I don't have to think and if it all go wrong I'll have more important things to worry about.

The next phase of my plan involved shares in FirstGroup and foray into the Eurozone with Atlantia. This would be followed by looking into the telepresence to try and tack the winds of shifting economic geography. Actual fruition would be getting nearer to the 25 year mark which would better suit risky retirement planning.

>>7868
Yeah, you're right. It looks weird because my strategy is to minimise the impact of trading costs with 1k moves but then there's probably too much risk to be doing that.

>>7869
By "much money" I mean that I have a nice career I enjoy doing but it's in Central bastard London so every month I look into what owning property involves (within a reasonable commute) and get crushed. Going up the career ladder doesn't solve the problem because my dad isn't an investment banker.

Probably not even worth seriously thinking about this until a few years down the line. Once I'm settled down with a Mrs I'd only have to move if I've bought a place for myself anyway.
>> No. 7871 Anonymous
10th May 2020
Sunday 12:52 am
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CUNT OFF ?

whiteline
>> No. 7854 Anonymous
12th April 2020
Sunday 2:54 pm
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Lads, what platform do you think offers the best deal for a Stocks and Shares ISA? I know that's a complicated question, but it's actually the reason I thought I'd get your second opinion.

I've been using HL for my long-term investments through a lifetime ISA. I can't quibble - for leaving my money in funds it's magic but, what I've noticed is the sizeable discounts attached to certain transactions when using the platform which complicates shopping around. Essentially as the big guys they can shave a considerable amount of money off investing - often to zero. However, there are many smaller platforms that on the face of it seem to offer better terms.

My situation is mundane, it's a new tax year so I'm thinking about opening a second stocks and shares ISA for my Christmas and language learning savings. My logic being that an ordinary cash ISA is a waste of everyone's time for the foreseeable future. I've been looking at using Interactive Investor as they come recommended online and you get investor credit every month to save on trading (should limit my temptation to dick around). That said, I've only ever used HL and don't want to get stuck with a platform that is a complete ballache for what will be limited profits.
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>> No. 7860 Anonymous
3rd May 2020
Sunday 11:51 am
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>>7859
Their raison d'être is that they don't charge any fees, hence the name.
>> No. 7861 Anonymous
3rd May 2020
Sunday 12:18 pm
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>>7860
How magnanimous!
>> No. 7862 Anonymous
5th May 2020
Tuesday 1:44 am
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>>7854
I got blind-sided by the shiny app Wealthify provides and sunk in £10k. I've since shut down my account with them (or tried to... they are like herpes) because they made more in fees for themselves than I earned in the two years I had the account. It is a S&S ISA, so performance (and hence your experience) will vary. To me they are a poster child for making it easy to sign up but a pain in the arse to get rid off. If you pick the right plan/level of risk that works for you they may be acceptable but I can't really recommend them.
>> No. 7863 Anonymous
5th May 2020
Tuesday 4:37 pm
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>>7862
>I've since shut down my account with them (or tried to... they are like herpes) because they made more in fees for themselves than I earned in the two years I had the account.

It seems a bit strange to blame Wealthify for the massive drop in the stock markets.
>> No. 7864 Anonymous
5th May 2020
Tuesday 11:24 pm
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>>7863
There was no major down turn in the time I held the account. I did pick the lowest risk investment idea, but their fees turned the meager gains into de-facto losses. Almost. They charged a fee to do better and basically did not. That's fair game, but disentangling myself from them. That's where I take issue.

whiteline
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