You're money and how you invest it

Could be worse. Could stick it away for 40 years then get hit by a bus.

 

Is that Maeda kids bless them, proud dad.

 

Paddy power

 

That's the gamblers way, known many like this

 

I had a works private pension which I thought was a good idea but it came back to bite me in the * when I retired. Coupled together with my state pension as well as my savings it took me over any thresholds for claiming anything whatsoever. I also had my carers allowance stopped as I was now getting state pension even though my wife's health has deteriorated and my caring duties have increased. I had to fork out on adaptations in the house and my electric bills have doubled as my wife needs the heating on constantly. So, I'd advise people to try sit down with an IFA and discuss matters as I wish I had when I was younger

 

Private healthcare can be useful if you get hit by a bus

 

Vanguard S+P 500 and forget about it for 5 year intervals.

 

No doubt. Be waiting 5 hours to get in to see an nhs surgeon

 

Great news. My parents retired a few years ago, they told me its good to have me around also else they would get bored. I believe them. Are you going to buy a motorbike or something like that or will you be more on a chill vibe?

 

Hopefully a more chilled vibe as I wouldn’t trust myself on a motorbike now, looking to have a lot more quality family time if the wife doesn’t kill me for being under her feet.

 

I collect it in shitloads of cash so the government has no clue how much money I have.

Everyone should do the same. Cash is King
We all need to start dealing in cash and cash only to counter-act those government measures to eventually create a cashless society. That means them being able to monitor very easily how much money you make and the sources you receive it from.
It'll also mean the death of cash-in-hand jobs...the arch enemy of the government and HMRC.
We should do whatever we can to preserve the use of cash in society. Plus everyone should work for cash-in-hand if they can. We should really consider how much tax (if any) this government deserves out of our hard earned wages when u see how much of it they spend on housing and funding this endless stream of immigrants.
They want complete control over us. Complete knowledge of our finances, income and outgoings. Electric vehicles allowing us to travel only 2 hours away from our home. Alexa and Siri keeping an eye on everything we do and reporting back to the government and the polis.
It's all very George Orwell - 1984 type * and we've got to resist it if we want to.keep our freedoms and liberties

 

And the whole pension thing is * beyond belief. I am 40 and I know there will be * all state pension waiting for me when I reach 70. Retirement age just goes up and up and they won't be able to pay for all us when we are that age. I've written that off. State pension won't be happening.

There is a massive increase in Altziemers and Senial Dementia in society these days. The only bonus in all this is that I won't have time for either of them cause I'll be too busy working.
At this rate I'll be working up until lunch time on the day of my funeral. I'll have to take a half day's holiday just to get buried

 

Inflation has eroded cash value by about 25% over the last 5 years alone. Even hoarding physical gold is a much better idea than cash.

You're probably right on that!

 

This is where it gets me....makes zero sense at all. How can having 100 quid cash be 25% less than what 100 quid was before?
Are u saying it's worth 25% less than 100 quid in your bank account? I don't understand.
The way I see it...cash is more useful than digital money for a lot of things.
Fraudsters find it a lot harder to steal if your money is in cash form in your house...rather than in a bank account they can hack into.

If there's a stock market crash or any kind of financial scare then the banks will just close office...and you won't be able to take your cash out.

Also banks these days can just freeze your account. They don't have to give you a reason. They can freeze it.....and you can't access your own money. Not a problem if you keep it in cash form.
You obviously need a bank account. But nothing says you have to keep your money in it. I keep the bare minimum in it that I need to cover my direct debits for my bills. I would not trust the bank with the rest of it. They pander to the government, HMRC, the police etc. They can stop you accessing your own money if they want to. So why would you trust someone to look after your money when they have the power to stop you accessing it at any point they want? It's stupid in my opinion and not worth the interest rate. Absolutely no way

 

It means that in a broad sense, to buy 100 pounds worth of stuff 5 years ago would now cost you 125 pounds. So every year you hold cash, the monetary value obviously doesn't change but what it's actually worth to you changes. That's why holding cash for years and years is a bad idea - its actual value erodes every year you keep it in your drawer.

Held in a bank account, you get interest that will at least help keep up with inflation. Gold is historically a good inflation hedge. And the stock market will usually beat inflation over the long term. So when for example, savings for your pension over decades, you want to be invested I
100% in non-cash assets.

 

Ah well.....you could live a boring life...no drinking, no drugs, no *, no gambling....you could work in a library wearing a brown cardigan and do trainspotting as a hobby on the weekend.
You would never get to have mind blowing drug fuelled * with a gorgeous blonde in suspenders. The highlight of your weekend could be the Asda reduced section and watching countdown. But you'll have savings and you'll have read all of War and Peace and understand it fully.
You could have a hefty sum in your savings. But in order to do that you have to do zero enjoyable or exciting things. Then you could die suddenly having done * all exciting in your lifetime.....but your bank balance will be half decent.
If you have no family or dont leave your savings to someone in the form of a will....the government take your money back eventually. It doesn't just sit in a useless dead man's account forever. The government take it. All your boring * life with the purpose to save money...and the government take it off you in the end anyway

 

Property for me. Even though the SNP are trying to make it harder and harder for landlords. Got a couple of flats now, both required work so got them at a good price, one is completed and rented out, the other should be finished this month. My main residence has now been sold as well after buying it as a repossession and I’ve done it up and added plenty value. Done the same with my first main residence also. It’s better to do it with your main residence as you aren’t getting hit with the capital gains tax like you would if you flipped a second home. Pay a small amount into a pension as well but property will be my pension. If you can add value to the second homes you can then remortgage them and get up to 80% of the new valuation back out them depending on the lender. This then frees up cash to move on to the next property.

 

Right so I can see how things drastically increase in price. But they cost the same whether your paying cash or digital currency. I can also see what your meaning about interest rates and how you don't get interest on cash stashed about your house.
But I doubt any bank ever is paying you 25% interest to cover the devaluation of cash at . 25%.

It's personal preference. But for me the bank paying you a miniscule interest rate for keeping your money in their account...isn't worth the risk of them being able to freeze your account whenever they want with no reason required...therefore completely blocking your access to your own money.
Your bank account can be arrested by the government meaning you are then completely snookered.

Keeping your money in a bank is exactly what the government want. Complete access to your income and outgoings with the ability to take it all off you if they feel like it
Also you can give cash to your children without getting hit with inheritance tax.
Loads more benefits to keeping cash in my opinion