Financial Security Page 3

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  • Jeepers 15 Jan 2008 18:08:07 13,173 posts
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    DaisyD wrote:
    Jeepers wrote:
    I could well be mis-remembering here, but I thought the FSA protection was c.30,000 and your ISA limit 7,500.
    I think the ISA limit's gone done to 3000 a year.

    You could well be right - I just looked at the IR site and they make a distinction between ISAs and Cash ISAs.

    At which point, my eyes glaze over and I wander off to play with my new toys.
  • monkeypuzzle 15 Jan 2008 18:09:19 1,947 posts
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    Its 90% of your savings, up to 30k ish. So whatever you lose a bit if they go bust. ANY savings are counted, ISA's are not treated separately

    If the bank is foreign I'm not sure, I thought this protection scheme was a european wide one.

    EDIT: its 3k cash limit, and 7k ish total limit which includes investments/ shares etc. This is an annual limit so you can build it up each year.

    Don't make me angry. You wouldn't like me when I'm angry.

  • Jeepers 15 Jan 2008 18:12:28 13,173 posts
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    Ah, cheers Monkeypuzzle - all I had remembered is that I'd got 7,500 in ISAs - I assume that some of this is market-linked, or similar?
  • monkeypuzzle 15 Jan 2008 18:14:01 1,947 posts
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    could be, or you built it up over a few years. So if I subscribed last year 3k in cash, I can put in 3k this year and would have 6k total in ISA.

    Sorry for the basic maths lesson!

    Don't make me angry. You wouldn't like me when I'm angry.

  • DaisyD 15 Jan 2008 18:16:18 11,818 posts
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    Jeepers wrote:
    DaisyD wrote:
    Jeepers wrote:
    I could well be mis-remembering here, but I thought the FSA protection was c.30,000 and your ISA limit 7,500.
    I think the ISA limit's gone done to 3000 a year.

    You could well be right - I just looked at the IR site and they make a distinction between ISAs and Cash ISAs.

    At which point, my eyes glaze over and I wander off to play with my new toys.
    My brother-in-law got one of those for christmas! Great fun!
  • monkeypuzzle 15 Jan 2008 18:21:24 1,947 posts
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    To be honest I never think its a good idea to put in one place. I spread it around a bit - means you don't worry too much about the millions*.

    Also when you look at rates, if one is .25% or .5% more than another it really doesn't make that much difference, peace of mind is worth a fair bit, as is easy access to some of your dosh.

    * I wish.

    Don't make me angry. You wouldn't like me when I'm angry.

  • Jeepers 15 Jan 2008 18:21:47 13,173 posts
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    monkeypuzzle wrote:
    could be, or you built it up over a few years. So if I subscribed last year 3k in cash, I can put in 3k this year and would have 6k total in ISA.

    Sorry for the basic maths lesson!

    Heh - no worry - the basic maths lesson is exactly what I need!

    I think it might have been a maxi-ISA or something odd like that. I'm a total imbecile when it comes to finances, so I tend to nod sagely at the advisor, and the sign what she puts in front of me.

    ...

    I'm going to be begging for pennies in a ditch in two years, aren't I?
  • Trowel 15 Jan 2008 18:23:41 17,451 posts
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    monkeypuzzle wrote:
    its 3k cash limit, and 7k ish total limit which includes investments/ shares etc. This is an annual limit so you can build it up each year.
    ISAs are massively underused, simply because people don't understand them. It's a tax-free allowance that just about everyone should be utilising, whether for saving cash for a rainy day or investing for the longer term. More detail here.

    Worth noting that the total allowance increases to 7200 from next tax year (ie April 6th), which will allow you to put up to 3600 tax-free into a Cash ISA.

    And interesting to see gold up about 30% on Errol's price in September eh. If only I'd followed my own advice and bought into Nintendo when I tipped them 3 years back... :(
  • monkeypuzzle 15 Jan 2008 18:25:36 1,947 posts
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    Jeepers wrote:
    monkeypuzzle wrote:
    could be, or you built it up over a few years. So if I subscribed last year 3k in cash, I can put in 3k this year and would have 6k total in ISA.

    Sorry for the basic maths lesson!

    Heh - no worry - the basic maths lesson is exactly what I need!

    I think it might have been a maxi-ISA or something odd like that. I'm a total imbecile when it comes to finances, so I tend to nod sagely at the advisor, and the sign what she puts in front of me.

    ...

    I'm going to be begging for pennies in a ditch in two years, aren't I?

    well I can 100% guarantee it was a Maxi if a FA advised it - they get commission see, they don't with cash ISA's.

    Stick some dosh in cash ISA's if you can, direct with a building society/bank.

    Don't make me angry. You wouldn't like me when I'm angry.

  • Errol 13 Mar 2008 22:30:57 12,457 posts
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    Errol wrote:
    Gold bullion now $587 per ounce.

    I tried to warn you all with this thread. Gold tipped $1000 an ounce today.

    Protect yourselves now while you still have time.
  • FWB 13 Mar 2008 22:35:26 43,859 posts
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    If I had some money I'd probably take your advice, Errol, since I get the impression that you're involved in all of this.

    Any places I should try and start a war in to aid the effort?
  • Errol 15 Mar 2008 09:51:45 12,457 posts
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    Gold closed the week over $1000.

    Bear Stears is just the first entity in the US to need a bailout. All the banks are ultimately insolvent and the government will do anything to stop them failing. This will ultimately lead to massive inflation and a devaluing of nearly all fiat currencies.
  • lost_soul 15 Mar 2008 10:07:15 9,369 posts
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    Errol wrote:
    Gold closed the week over $1000.

    Bear Stears is just the first entity in the US to need a bailout. All the banks are ultimately insolvent and the government will do anything to stop them failing. This will ultimately lead to massive inflation and a devaluing of nearly all fiat currencies.
    Yeah, things are a bit scary out there.

    You can't eat gold though.

    /buys a million bushels of wheat

    One thing to remember about gold though: it's valued in dollars and as we all know, the dollar's value has dropped through the floor over the past couple of years. Of course, the other major currencies are likely to follow it over the next couple of years.
  • Deleted user 25 November 2010 10:50:19
    Post deleted
  • Errol 13 Jan 2013 23:06:17 12,457 posts
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    Errol wrote:
    Gold bullion now $587 per ounce.
    Heh heh. Gold now in excess of $1600 an ounce. I fully expect $5000 + eventually.
  • elstoof 13 Jan 2013 23:19:13 6,633 posts
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    Man, I wish some bright spark sold the majority of our gold reserves 10 years ago for $275 an ounce, then we wouldn't be in such a mess.
  • Jazzy_Geoff 14 Jan 2013 00:55:27 7,767 posts
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    By the summer, with a bit of luck, I should be a new bigger house with a new car, no debts, no mortgage and a wedge in the bank. All gravy from here till death.
  • Errol 14 Jan 2013 23:32:37 12,457 posts
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    Well played.
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