Current Affairs

[towny44]

My intention is to blow my 25% tax free and then live on the other 75%. In fact if we get a couple more years of market rises then my 75% will be worth more per year than I currently earn

I do hope your 75% is going to give you a DB pension, otherwise penury awaits you after 12 months!!!!

[Onelife]

After twenty-five years nursing my wife decided to jack it in and take early retirement (55) … we’ve never been so poor, the caravan roof is leaking and we are surviving on chicken eggs…donations, no matter how small will be much appreciated.

Thank you.

[david63]

donations, no matter how small will be much appreciated.

I have a couple of out of date boxes of chocolates if they are any use - they came anonymously through the post

[Stephen]

After twenty-five years nursing my wife decided to jack it in and take early retirement (55) … we’ve never been so poor, the caravan roof is leaking and we are surviving on chicken eggs…donations, no matter how small will be much appreciated.

Thank you.

You think you’ve got it bad. Mrs S will have done 43 year nursing this July and we are still only just getting by. All I can say is, thank god for the food and clothes banks.

I was going to do a charity walk round the garden, but we’ve had to sell it.

[Kendhni]

My intention is to blow my 25% tax free and then live on the other 75%. In fact if we get a couple more years of market rises then my 75% will be worth more per year than I currently earn

I do hope your 75% is going to give you a DB pension, otherwise penury awaits you after 12 months!!!!

Why? It is all DC and I am in full control of it. The remaining 75% will give us a very comfortable retirement (even if I chose to buy an annuity at todays lousy rates) - the first 25% is not only tax free but is what I call my 'scrapheap challenge' money.

Over the last 4-5 years I have been restructuring my finances in a manner whereby HMRC will hopefully get as little as possible and I have no intention of leaving anything behind to anyone - I came into this world with nothing and I intend to go out with as close to nothing as I can possibly make it. Apart from a small amount to put the 'fun' back into FUNeral.

[Kendhni]

After twenty-five years nursing my wife decided to jack it in and take early retirement (55) … we’ve never been so poor, the caravan roof is leaking and we are surviving on chicken eggs…donations, no matter how small will be much appreciated.

Thank you.

That's what you get for being a wimp - you should have told her to stay in work to keep you in the life that you intend to stay accustomed too.

Just don't tell Julie I said that.

[Stephen]

After twenty-five years nursing my wife decided to jack it in and take early retirement (55) … we’ve never been so poor, the caravan roof is leaking and we are surviving on chicken eggs…donations, no matter how small will be much appreciated.

Thank you.

That's what you get for being a wimp - you should have told her to stay in work to keep you in the life that you intend to stay accustomed too.

Just don't tell Julie I said that.

Don’t tell him that Ken, that’s what I did. We can’t have two of us packing it in early. Think of the economy

[Ray B]

Last year the government ruled out letting teachers allocate GCSE and A level grades because they feared teacher bias and grade inflation. Instead we had the algorithm that was supposed to level the playing field, which was savaged, and critics said they should trust the teachers.

So this year they've opted to trust the teachers.

And the critics are saying it will risk teacher bias and grade inflation.

Isn't opposition easy.

Just ask captain Hindsight.

[towny44]

My intention is to blow my 25% tax free and then live on the other 75%. In fact if we get a couple more years of market rises then my 75% will be worth more per year than I currently earn

I do hope your 75% is going to give you a DB pension, otherwise penury awaits you after 12 months!!!!

Why? It is all DC and I am in full control of it. The remaining 75% will give us a very comfortable retirement (even if I chose to buy an annuity at todays lousy rates) - the first 25% is not only tax free but is what I call my 'scrapheap challenge' money.

Over the last 4-5 years I have been restructuring my finances in a manner whereby HMRC will hopefully get as little as possible and I have no intention of leaving anything behind to anyone - I came into this world with nothing and I intend to go out with as close to nothing as I can possibly make it. Apart from a small amount to put the 'fun' back into FUNeral.

My mistake Ken, I misunderstood your comment about the 75% balance, I took it to mean it would only equal your current salary.

[david63]

Did anyone else see JVT's brilliant put down of Hugh Pymm at the press conference tonight?

The moral there is "do your homework before opening your mouth"

[Kendhni]

I do hope your 75% is going to give you a DB pension, otherwise penury awaits you after 12 months!!!!

Why? It is all DC and I am in full control of it. The remaining 75% will give us a very comfortable retirement (even if I chose to buy an annuity at todays lousy rates) - the first 25% is not only tax free but is what I call my 'scrapheap challenge' money.

Over the last 4-5 years I have been restructuring my finances in a manner whereby HMRC will hopefully get as little as possible and I have no intention of leaving anything behind to anyone - I came into this world with nothing and I intend to go out with as close to nothing as I can possibly make it. Apart from a small amount to put the 'fun' back into FUNeral.

My mistake Ken, I misunderstood your comment about the 75% balance, I took it to mean it would only equal your current salary.

If that had have been the case you would have been spot on on and I would tapping you for a loan

[macca1914]

You should go a little further afield if you like real black pudding Foxy… Clonakilty (Irish) black pudding is worth going that extra mile for.

And if you would like a beer with a difference then look no further than 'Jubel'

That being said I do enjoy a Newcy Broon when in the mood

Being from Cork myself Clonakilty black pudding is right up there.

Ireland, one place I want visit one day. A night out in the local with a pint or three of the real black stuff while listening to a live band sounds right up my street

[david63]

Apparantly schools have to get the parent's permission in advance in order to Covid test their pupils and around 25% of parents have not given permission.

You either have a test at school or you provide proof that you have had one - it is not an option and failure to send your child to school results in standard rules being applied - you get fined.

Just my opinion of course!

[Ray B]

Poor old Pontins, crossed the P C Line trying to protect it's staff and property. Trouble is, very few public actually knows what goes on when certain parts of the community get together.
Before I retired, I use to carry out the maintenance and repairs at the local H...... Hotel.
Every year this crowd had a families meet up and booked out the conference room for the weekend. They did pay a good wack based on previous years activities.
The Monday after they left we were called in to renew every WC suite and basins in the ladies and gents after they had trashed the lot.
As I said, the public do not hear about these acts of wanton vandalism.
Do gooders, pah.

[Onelife]

I think the whistle-blower who shopped Pontins deserves a whole load of garden/household waste dumped at his/her front door, then perhaps they might start to appreciate what others have to put up with.

[Stephen]

The budget at a glance


https://www.theguardian.com/uk-news/202 ... ishi-sunak

[david63]

The budget at a glance


https://www.theguardian.com/uk-news/202 ... ishi-sunak

Nothing too surprising in there - will make little, is any, difference for me.

[Stephen]

Nor me .

[Kendhni]

I was a little bit disappointed, he has basically kicked the 'debt' ball down the road and intends to increase borrowing over the next few years (albeit at a lower rate). I think his GDP growth is a bit misleading though. All that his prohected figures will do is put us back into the same position as everyone else (our economy did not recover last year whereas rest of the world already has - so basically he is expecting us to realign with rest of the world over the next 2 years.

I can however see his point though and hope his plan does work.

The one I can't really understand is giving 130% tax relief for capital expenditure - interesting strategy, and will be interesting to see how that pans out.

[Mervyn and Trish]

I was a little bit disappointed, he has basically kicked the 'debt' ball down the road and intends to increase borrowing over the next few years (albeit at a lower rate). I think his GDP growth is a bit misleading though. All that his prohected figures will do is put us back into the same position as everyone else (our economy did not recover last year whereas rest of the world already has - so basically he is expecting us to realign with rest of the world over the next 2 years.

I can however see his point though and hope his plan does work.

The one I can't really understand is giving 130% tax relief for capital expenditure - interesting strategy, and will be interesting to see how that pans out.

That's a very sweeping statement. Does it really mean, as it appears, that every other country in the world has already recovered economically and we are the only one that hasn't? What's the source of the info because I can't find it?

[towny44]

I was a little bit disappointed, he has basically kicked the 'debt' ball down the road and intends to increase borrowing over the next few years (albeit at a lower rate). I think his GDP growth is a bit misleading though. All that his prohected figures will do is put us back into the same position as everyone else (our economy did not recover last year whereas rest of the world already has - so basically he is expecting us to realign with rest of the world over the next 2 years.

I can however see his point though and hope his plan does work.

The one I can't really understand is giving 130% tax relief for capital expenditure - interesting strategy, and will be interesting to see how that pans out.

That's a very sweeping statement. Does it really mean, as it appears, that every other country in the world has already recovered economically and we are the only one that hasn't? What's the source of the info because I can't find it?

There has been quite a lot of comment that the way we calculate the service sector output and its size and importance to our economy, is a major reason why our GDP produces such a major reduction.

[Kendhni]

I was a little bit disappointed, he has basically kicked the 'debt' ball down the road and intends to increase borrowing over the next few years (albeit at a lower rate). I think his GDP growth is a bit misleading though. All that his prohected figures will do is put us back into the same position as everyone else (our economy did not recover last year whereas rest of the world already has - so basically he is expecting us to realign with rest of the world over the next 2 years.

I can however see his point though and hope his plan does work.

The one I can't really understand is giving 130% tax relief for capital expenditure - interesting strategy, and will be interesting to see how that pans out.

That's a very sweeping statement. Does it really mean, as it appears, that every other country in the world has already recovered economically and we are the only one that hasn't? What's the source of the info because I can't find it?

For some reason the UK has not recovered the same way as other countries. There are a couple of interesting presentations given by some UK focussed fund managers like Nick Train and Keith Ashworth-Lord (available on Trustnet) try to explain this. Pretty much rest of the world ended the year with a rise in positive territory (I can't remember the numbers) albeit some were very small, but the UK languished behind.

That actually played out in my portfolio as well, with America, Asia and Eurozone giving me very good returns in 2020 but I lost about 6-7% with UK investments.

On the plus side I am hoping the chancellor is right because now is a good time to buy into the UK, as it has further to go to regain the status quo (I actually chose to stop selling the UK expecting that the rise may have come in Jan/Feb, but I expect I will now hold for maybe another year in the hope of riding this wave of optimism).

[david63]

I lost about 6-7% with UK investments.

Perhaps you need to find a better financial advisor - mine is getting me over 10% in the last 12 months.

[Kendhni]

I lost about 6-7% with UK investments.

Perhaps you need to find a better financial advisor - mine is getting me over 10% in the last 12 months.

I no longer waste money on a financial advisor for simple portfolio management (not after my IFA went bankrupt - sort of a clue going on there). I have managed my own investments now for several years leaving the investing and rebalancing decisions to the real professionals (i.e. the fund managers).

I don't have the actual numbers to hand but (working from memory) I believe my investment performance for 2020 was something like
- US - up 38% (helped by Tesla),
- Emerging - up 25%
- Japan - up 17%
- Eurozone - up 12%
- UK - down 6% (I think it was actually 6.4%)

Overall portfolio up over 20% last year - glory be to the mighty Bailie Gifford - yes it is the worst single year performance I have had since I took over, but still not bad for a very weird year.

[towny44]

I was a little bit disappointed, he has basically kicked the 'debt' ball down the road and intends to increase borrowing over the next few years (albeit at a lower rate). I think his GDP growth is a bit misleading though. All that his prohected figures will do is put us back into the same position as everyone else (our economy did not recover last year whereas rest of the world already has - so basically he is expecting us to realign with rest of the world over the next 2 years.

I can however see his point though and hope his plan does work.

The one I can't really understand is giving 130% tax relief for capital expenditure - interesting strategy, and will be interesting to see how that pans out.

That's a very sweeping statement. Does it really mean, as it appears, that every other country in the world has already recovered economically and we are the only one that hasn't? What's the source of the info because I can't find it?

For some reason the UK has not recovered the same way as other countries. There are a couple of interesting presentations given by some UK focussed fund managers like Nick Train and Keith Ashworth-Lord (available on Trustnet) try to explain this. Pretty much rest of the world ended the year with a rise in positive territory (I can't remember the numbers) albeit some were very small, but the UK languished behind.

That actually played out in my portfolio as well, with America, Asia and Eurozone giving me very good returns in 2020 but I lost about 6-7% with UK investments.

On the plus side I am hoping the chancellor is right because now is a good time to buy into the UK, as it has further to go to regain the status quo (I actually chose to stop selling the UK expecting that the rise may have come in Jan/Feb, but I expect I will now hold for maybe another year in the hope of riding this wave of optimism).

I know you are perfectly aware Ken that stock market performance has no real connection to the economic performance of a country.the former is purely driven by market sentiment, the latter by the GDP.