Financial Security

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  • Errol 10 Mar 2003 15:48:58 12,466 posts
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    With the pensions crisis growing by the day, and the bear market set to continue for far longer than most of the general public believe, now is the time to check your plans for long term financial security.

    For instance, unless you all want to be working for the next 60yrs, a pension would be a very good plan.

    I would be interested to know (roughly, not the exact details !) what kind of plans/investments/etc that others on this board have.

  • silentbob 10 Mar 2003 15:53:22 28,958 posts
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    I have a secure 'under floorboard' endowment policy, in which I deposit 20 pounds every month. The only drawback is that my money actually tends to decrease depending on how many mice are around.

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  • ssuellid 10 Mar 2003 15:53:36 19,141 posts
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    I did have a stock linked pension which was worth f**k all. Decided instead to invest in property as well as a smaller and less risky pension scheme.

    edit: forgot about share save scheme. Also have some cash savings, kept in a relatively easy to get to savings account just in case of emergencies.

    Edited by ssuellid at 15:59:32 10-03-2003
  • Errol 10 Mar 2003 15:53:43 12,466 posts
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    I will kick us off -

    LIST OF INVESTMENTS ETC

    Pension
    Gold bullion
    Shares (very long term selections - on a 10yr plan)
    Premium bonds
    Life insurance

    PLANS

    Interested in acquiring valuable antiques
    Continuing to purchase Gold Bullion
    Diamonds.


    - Of course, I also intend to enter the stock market big-style at the bottom of the bear market: This bottom will only come once 'normal' investors are on their knees, in my opinion. There are far too many 'bulls' around, for this to be anywhere near the bottom.


  • pjmaybe 10 Mar 2003 15:57:45 70,676 posts
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    So you're basically telling me I shouldn't have bought all these turnips yesterday then?

    Peej
  • Han_Solo 10 Mar 2003 15:58:44 413 posts
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    Rob a bank, while using naked women to distract the male staff and a copies of hello magazine to keep the female staff occupied. Then leave a single glove with the initial E on it, to baffle and mystify the entire nation.
  • Han_Solo 10 Mar 2003 16:00:01 413 posts
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    pjmaybe wrote:
    So you're basically telling me I shouldn't have bought all these turnips yesterday then?

    Peej

    good investment turnips, but my bets on brussels this year
  • Machiavel 10 Mar 2003 16:09:18 5,964 posts
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    But hasn't gold bullion continually declined in value against inflation for the last upteen years? Or are we running out of gold and therefore need to start updating our floorboard insulation?
  • silentbob 10 Mar 2003 16:12:59 28,958 posts
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    I thought this thread was toungue in cheek to begin with. I come here to get away from the mundane questions in life. Threads like these drag my brain kicking and creaming back to earth again.

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  • Errol 10 Mar 2003 16:20:06 12,466 posts
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    Money rules the world.
  • pistol 10 Mar 2003 16:24:03 13,019 posts
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    I've frozen my Co pension for the time being, and put everything into 3 seperate accounts. 2 ISA's and another high interest account.
  • jiroczech 10 Mar 2003 16:28:56 2,669 posts
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    /me wonders if Errol wears a money belt stuffed with krugerands..

    Love rules the world.
  • eviltobz 10 Mar 2003 16:31:06 2,511 posts
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    i've not got too much going on investment-wise so far, got a pension which my company pays a bit into as well as me, most of which is in an index tracking fund, and i'm trying to get some cash behind me to make a start on the property ladder, which i'm sticking in a cash isa. i'd just started to look into learning about the stock market when it started it's freefall dive, so that was a bit of good luck.

    all the rest of my money goes on bills, consoles, games, and other frivolities, i'm currently looking quite longingly at a 900 electric drum kit.

    Edited by eviltobz at 16:31:21 10-03-2003
  • Killerbee 10 Mar 2003 17:00:47 5,016 posts
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    Got a stakeholder-type pension thing arranged through work which both my employers and I pay into monthly - one where you build up a (hopefully) enormous fund of cash and buy an annuity at the end of it all. Strikes me I'd be better off just saving the money for the next 40 odd years and then seeing what I've got left, but there you go.

    I've also got a cash ISA which is slowly but surely growing in size, but I'll probably blow that on a new car in a few years! :)

    Oh, and my own (albeit mortgaged) house which should provide a bit of capital in a few years time.
  • pjmaybe 10 Mar 2003 17:03:30 70,676 posts
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    Savings? what are they? Oh you mean banks actually let you DEPOSIT money as well as withdraw it? Werl, things you
    learn eh!

    Buffy's got a stakeholder pension

    /coat/mittens/cab


    Peej


    Edited by pjmaybe at 17:03:57 10-03-2003
  • Deleted user 10 March 2003 17:04:31
    Eh I have 31 cent in my back account, a big drop from it's all time high of 2,200 euro at the end of last summer. I'm broke!
  • eviltobz 10 Mar 2003 17:05:20 2,511 posts
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    Killerbee wrote:
    Strikes me I'd be better off just saving the money for the next 40 odd years and then seeing what I've got left, but there you go.
    i think it's the tax benefits that make it worthwhile, gets arsey when the inland revenue send you a tax return to do though. bastards.
  • Killerbee 10 Mar 2003 17:39:07 5,016 posts
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    Surely right now is actually a great time to be buying up shares? I've never invested in the stock market, mainly because I feel its a waste of time unless you put the effort in to do it properly (and I can't be arsed), but buying right now - i.e. just before war kicks off in Iraq - is surely going to be catching the stockmarket at near enough its lowest possible point. And if you keep the shares for a couple of years or more you've got to be onto a winner, no?
  • ReGuRgIt8oR 10 Mar 2003 17:45:17 2,601 posts
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    I truly believe I will be dead long before I can draw a pension, so I do not pay into one.

    Instead I have life insurance up to my eyes.

    This plan leaves my family secure and doesn't give two hoots about me.

    If I'm still alive at 60 then that's an easy problem to solve.
  • Bill-Gates-is-Evil 10 Mar 2003 17:49:25 8,934 posts
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    lol, look at everyone sharing their own financial advice as if it were the best way to do things. we'd all be rich if that were the case.

    i've deal mostly with shares and mutual funds, i've got $83,423.87 in my Ameritrade account as of 12:40pm eastern time. $20,000 in cash and the rest distributed into two stocks--

    AAI: AirTran
    SNE: Sony

    I plan on buying Microsoft stock, just need some mo' money.

    This would be a good time to buy Nintendo stock, too bad Nintendo doesn't offer an ADR in the United States!

    And btw, i've got a question for some of you. There are many foreign companies which I, and any other American, can invest in and get actual voting rights. For example, i've owned STM Microelectronics, a French company. An American owning a piece of France. Now, are there a lot of American stocks offered in the United Kingdom, in which you the British can own a piece of the United States? I'm not talking ADR, where you don't actually voting rights. I'm talking pure ownership.
  • eviltobz 10 Mar 2003 17:50:45 2,511 posts
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    Post deleted
  • eviltobz 10 Mar 2003 17:53:39 2,511 posts
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    Bill Gates is Evil wrote:
    lol, look at everyone sharing their own financial advice as if it were the best way to do things.
    except no-one said or implied it was best, they just said what they're doing. calm down a bit.
  • Razz 10 Mar 2003 17:57:26 61,094 posts
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    eviltobz wrote:
    Bill Gates is Evil wrote:
    lol, look at everyone sharing their own financial advice as if it were the best way to do things.
    except no-one said or implied it was best, they just said what they're doing. calm down a bit.

    etbz: I think he was joking mate.

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  • Bill-Gates-is-Evil 10 Mar 2003 18:01:23 8,934 posts
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    Well, i wasn't really joking but i wasn't being all too serious either... I think it's funny because almost everywhere you go because have a whats-best statement for what to do, such as...

    From what I can tell the best time to buy is within 20% of the bottom and sell within 20% of the top. Try to avoid being too greedy when selling since if it crashes your f*cked. ( please note the time to sell is when Goverment and business leaders are telling you that a crash is caused by a crisis of confidence, so unless everyone panicks you'll be OK.... whilst they'll be getting rid of everything they can )

    Thank God for Duncan! The world has been waiting for someone who knows exactly what to do to be successful! The worlds financial worries are officially over.
  • Razz 10 Mar 2003 18:15:08 61,094 posts
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    Well.. personally I think its a great time to buy property in Iraq, if your talking long term investment anyway.

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  • Errol 10 Mar 2003 23:23:54 12,466 posts
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    Actually, a great place to buy property is Argentina. With the economy of said country in tatters, property prices in the major cities are rock bottom.
  • silentbob 11 Mar 2003 00:09:33 28,958 posts
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    Yeah but imagine now much an import version of Zelda would set you back there.

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  • Errol 2 Aug 2004 00:39:18 12,466 posts
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    A good high interest savings account is also a decent addition to your financial arrangements.

    A proportion of your assets should be in cash form.

    I use ING direct (at 4.85% interest rate) - www.ingdirect.co.uk.
  • lost_soul 2 Aug 2004 00:49:45 9,369 posts
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    What percentage of your assets do you believe a person should keep in cash, errol?

    I have all of my savings in ISAs and high interest accounts, which is safe I guess, but I can't help but think I should spread some of it around elsewhere.
  • Orange 2 Aug 2004 01:37:11 4,749 posts
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    lost_soul wrote:
    I have all of my savings in ISAs and high interest accounts, which is safe I guess, but I can't help but think I should spread some of it around elsewhere.
    Me too. I'm wary of buying shares and things though.
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