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Sad Panda posted:There's a UK Finance thread for more advice but yes. Investing in stocks and shares ISAs and buying the market with the lowest fees possible is a good place to put money if you have it. It's a long term investment that will definitely fluctuate (mine has gone down by a few % this year) so best to invest and forget about it until retirement. I confess I have an instinctive reaction to anything with the word finance in it or anybody who expresses an interest in finance, roughly comparable to the reaction I would have towards a seeing a 20 foot tall spider, which does sort of limit the level of engagement I have had with the subject.
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Oct 1, 2022 15:48
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Diet Crack posted:the ISA is only as good as the allowance goes though, if you suddenly make a mil on the markets it doesn't really matter. Personally I'd rather not have my monies in any locked in contracts with banks at the moment because *spoiler* they're going to trade it away and then tell you that you can't have it back or limit you to £50 withdrawals a month or something stupid because Banks are a cancer. Cancer is progressive. Cancer means growth. Cancer tends to win out in the end.
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Oct 1, 2022 15:49
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OwlFancier posted:I confess I have an instinctive reaction to anything with the word finance in it or anybody who expresses an interest in finance, roughly comparable to the reaction I would have towards a seeing a 20 foot tall spider, which does sort of limit the level of engagement I have had with the subject. https://forums.somethingawful.com/showthread.php?threadid=3887120 good place to start. OP has a flowchart from Reddit which goes through the order you should consider your finances. If you're down to the ISAs bit then you basically want to open an account eg at Vanguard and buy something with the lowest fees that covers as much of the market as possible because people who claim to understand the market and charge large fees for it are full of it.
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Oct 1, 2022 15:53
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I will have a look, cheers, probably should at least try and see if there is anything that might be worthwhile.
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Oct 1, 2022 15:55
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Diet Crack posted:the ISA is only as good as the allowance goes though, if you suddenly make a mil on the markets it doesn't really matter. Personally I'd rather not have my monies in any locked in contracts with banks at the moment because *spoiler* they're going to trade it away and then tell you that you can't have it back or limit you to £50 withdrawals a month or something stupid because Banks are a cancer. That really depends on if you made a mil and then want to put it into an ISA or if you put money into an ISA and it then makes a million - the gains in the ISA aren't taxed. If you put £20k into an ISA in a tax year and just leave it for a few decades (about 40 years, historically) to become a million you're still not getting taxed on that million when you withdraw it. I get that banks are lovely but if things get so lovely as you're describing then society as already collapsed to the point where it doesn't matter if you have the money or not. And with the funds that are commonly invested in, this is spread pretty much across the whole global economy, so we're talking global collapse here. Basically, if the versions of the future are: 1) Capitalism continues are currently 2) Socialism comes and all the wealth gets redistributed to the point where we're all wealthy anyway 3) Barbarism Then investing is a hedge that 1) happens, where 2) is the preferred option for me, but I'm not going to become a hermit and rely on 3) happening to justify it. Also, I use £20k in the above example, which is clearly a ton in a single year, but £100 a month starting at 20 would on average get to £1m after 45 years by the time you hit 65 (non-inflation adjusted but assume that £100 goes up vaguely with inflation as well). That might still be a lot of money to save monthly for a lot of people, so really my take away there is that it's actually a fairly small amount of income redistribution required to make the population at large pretty secure, which makes it even more abhorrent that it isn't being done. edit: to add to that £100 a month figure - that's also likely partially coming from an employer contribution to a pension fund, as really the investment strategy is the same there, so in terms of a standard 5%/4% employee/employer contribution with HMRC tax contribution, someone on around £14k a year would be saving £100 a month on the legal minimum pension contribution. Now, could they? Maybe not, cost of living is a factor and employers will try to get around all this, especially in a gig economy, but we're not talking monthly amounts that only someone on £50k could be making. Hobo fucked around with this message at 16:02 on Oct 1, 2022 |
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Oct 1, 2022 15:57
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Trying to sustain myself but there is very little hope that things will get any bettee
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Oct 1, 2022 16:25
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https://twitter.com/rantingauthor/status/1576231766313951235?t=ElLnvo0tSY7nOgotBtU1RQ&s=19 Not the best day for my smart meter to get an error. (Not 100% sure it's an error either)
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Oct 1, 2022 16:27
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https://twitter.com/MetroUK/status/1575768692771667969 I have some some cuts in mind that could be made. Fucks sake man.
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Oct 1, 2022 16:36
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Wait, I think that's a minus above the £ sign. Combined use is £3549 Gas is £1.19 Electric is £3551 3551 - 1.19 = 3549.81 and the meter doesn't round up so yeah. It's a minus but what the gently caress is going on.
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Oct 1, 2022 16:38
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NoneMoreNegative posted:https://twitter.com/MetroUK/status/1575768692771667969 Historically governments not realising that social spending was revolution insurance hasn't gone well.
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Oct 1, 2022 16:45
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Hobo posted:Amazing. I wish I couldn't relate to this as much as I currently do. I'm happy that for once I have no idea what that dorky thing is about. Although, it does look kindof interesting, uh.
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Oct 1, 2022 16:59
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https://twitter.com/eiecampaign/status/1576166815440711681 Initially thought they had set the RMT flag on fire.
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Oct 1, 2022 17:08
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Private Speech posted:I'm happy that for once I have no idea what that dorky thing is about. Its like depression mallets mallet but between the devil and the personification of dreams who cannot handle the thought of the uk
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Oct 1, 2022 17:39
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Diet Crack posted:the ISA is only as good as the allowance goes though, if you suddenly make a mil on the markets it doesn't really matter. Personally I'd rather not have my monies in any locked in contracts with banks at the moment because *spoiler* they're going to trade it away and then tell you that you can't have it back or limit you to £50 withdrawals a month or something stupid because Banks are a cancer. Would hold off doing anything with the markets this week, good indicators Credit Suisse is going to be declared insolvent; it could be 2008 all over again. Truss might have found her scape goat.
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Oct 1, 2022 17:45
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TW for doomerism venting I'm lost for words at how loving evil these people are. Literally taking money away from schools so the rich can have a little bit more. I mean, I know it's been this way forever but there's something about the comfort they seem to have at doing it all out in the open. It feels like anger and despair are all I have left, sometimes, and that really sucks. I was such a happy kid. Is it any surprise that there is such a mental health crisis in the world when we are living in such diseased, hateful, gas-lighting, greed-driven societies? Here though just have a 30 minute mindfulness course instead of being treated like you aren't property to be drained and moved around on a board
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Oct 1, 2022 17:47
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Deketh posted:TW for doomerism venting I do want to point out that the reason for the cut is the governments cut in national insurance. Since schools need to pay it like any other employer, their budget was raised by the amount needed to pay the NI raise, so schools would not be worst-off due to the changes. Now that NI is being cut, the funding to pay the NI increase is being cut aswell, so there's no net benefit or loss.. It's not yet "we're cutting kids teachers to pay off the 1%" That comes next month.
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Oct 1, 2022 18:07
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It does feel oftentimes like I am just hanging on for the slim chance I might get to watch the romanovs get executed. Not even really a hope for afterwards, not least because it will probably be a long time from now and I will be almost dead, but maybe I'll get a brief moment of satisfaction for the wrongs done to everybody.
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Oct 1, 2022 18:12
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OwlFancier posted:Is there a point doing investment isas if you're not loaded? I assumed you just wouldn't get anything out of it. At the end of last year I started an investment ISA as I was tired of getting ~1% back on savings. The goal was to build up enough to cancel out the mortgage in about five years. My understanding is that in the long term (5 years+) the market always trends up, and if it hasn't that means either: a) World War III happened, and money no longer matters b) The communist uprising finally arrived Anyway the current result of my investment acumen is:  ...which is why I don't gamble. That drop was -6% prior to this week. If I'd used the same funds for all of 2021 it would have been up around +10%.
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Oct 1, 2022 18:18
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https://twitter.com/EndUKPrivateJet/status/1575966285787463684
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Oct 1, 2022 18:22
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That has to be a loving op, right? I do not at all believe there are people who are anti private jet but pro captain tom and also that bad at protesting.
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Oct 1, 2022 18:23
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Bit of a bizarre message that. Like, I'm all for pouring a bucket of poo poo on Captain Tom, but saying that you're doing it because Private Jets metaphorically pour a bucket of poo poo on Captain Tom whenever they take off? Seems to imply that "everything Captain Tom stood for" should be given the utmost respect... but then why are you pouring poo poo on him? Very muddled IMO. Also did Captain Tom ever mention anything about private jets? Or ecological concerns in general?
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Oct 1, 2022 18:25
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I'd imagine ct's family is quite pro private jet, generally
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Oct 1, 2022 18:25
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Every time a private jet takes off it takes a poo poo on the principle of exploiting elderly family members in order to grift from a pretend charity?
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Oct 1, 2022 18:30
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I'm bowled over by the sheer spectacle of it, like the political version of Trump staring directly into the sun.
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Oct 1, 2022 18:32
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xtothez posted:At the end of last year I started an investment ISA as I was tired of getting ~1% back on savings. The goal was to build up enough to cancel out the mortgage in about five years. My understanding is that in the long term (5 years+) the market always trends up, and if it hasn't that means either: 5 years isn't long term for investment planning, that's 10+ really, and there's not really such a thing as "always", just that history suggests it's *likely* to trend up over a 10 year period. For anyone investing in pensions etc that are more than 10 years away from being taken, the current drops could be very good as you can buy units much more cheaply than you could last year, but you're then back to hoping it recovers in that 10 year window.
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Oct 1, 2022 18:43
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Reckon they might actually get booted and replaced with Rishi in fairly short order. There’s got to be a point where even safe seat Tories start prioritising holding on to their constituencies. https://twitter.com/Mij_Europe/status/1576262701214466048?s=20&t=_4_Zkv0W_BnzSWljwmPKvw
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Oct 1, 2022 18:44
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Pouring poo poo on Captain Tom memorial is very funny, and sure to drive plenty of Rangers da's to the edge of insanity. I don't see how it helps to get the general public on side though.
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Oct 1, 2022 18:45
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Sad Panda posted:https://forums.somethingawful.com/showthread.php?threadid=3887120 good place to start. OP has a flowchart from Reddit which goes through the order you should consider your finances. If you're down to the ISAs bit then you basically want to open an account eg at Vanguard and buy something with the lowest fees that covers as much of the market as possible because people who claim to understand the market and charge large fees for it are full of it. This. If you'd like a crash course (see: a few messages) around what you can do within the markets without exposing yourself to too much risk - DM me, I specifically trade the US markets but often have to deal with indices on the LSE. At the moment you'd be looking at inverse index funds to ride the downturn of the markets. Even just investing £200 now can really get the ball rolling. Just stay the gently caress away from Options is my one true piece of advice for literally anyone. e: sorry forgot this is still UKMT, didn't mean to derail. In other news, natgas prices are about to shoot up again Diet Crack fucked around with this message at 18:51 on Oct 1, 2022 |
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Oct 1, 2022 18:46
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This is such an insane and counterproductive means of protest that I have no choice but to fully support it. Edit: https://twitter.com/nkulw/status/1576222939070214144?s=19 Gonzo McFee fucked around with this message at 18:54 on Oct 1, 2022 |
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Oct 1, 2022 18:51
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Please do not interact with faceas in any way. Thank you.
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Oct 1, 2022 18:54
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Nonsense posted:Please do not interact with faceas in any way. Thank you. You can't tell me what to do
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Oct 1, 2022 18:58
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OwlFancier posted:That has to be a loving op, right? I do not at all believe there are people who are anti private jet but pro captain tom and also that bad at protesting. She was an XR person and encouraged people to get arrested at XR protests so yes 1000%
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Oct 1, 2022 19:04
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peanut- posted:Reckon they might actually get booted and replaced with Rishi in fairly short order. There’s got to be a point where even safe seat Tories start prioritising holding on to their constituencies. To whom is he useful?
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Oct 1, 2022 19:13
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NotJustANumber99 posted:To whom is he useful? Hedge fund managers who want someone to short the pound to the point where David Amess will become the leader of the Conservative Party, because he's so loving stupid that he doesn't understand the consequences of his actions. Hence "useful idiot".
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Oct 1, 2022 19:37
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Just Another Lurker posted:Sorry, not loaded but i was thinking 14 years down the line as it's doing bugger all in my account atm. CAVEAT AM NOT A FINANCIAL ADVISER I ACCEPT NO LIABILITY ETC ETC If you're thinking longer term, you might want to consider a SIPP (self-invested personal pension plan). You pay in and the govt gives you 25% on top, but even if you don't earn enough to pay tax, you can still pay in £2880 and the govt gives you £720 on top!. Depending on platform, you do NOT have to choose an investment stocks etc, can just leave it as cash. There is an upper limit, for some reason £4k rings a bell - which the govt would give you £1k. It is a one-off as in you pay in your £2880 in one financial year and get the £720 but that's it. No more on THAT £2880. And if you withdraw it, you get 75% tax free but the other 25% is taxable - how much tax depends on your other tax position eg if it takes you over the personal allowance or whatever. So if you put £2880 in and just leave it as cash, the govt gives you £720 so you have £3600. (If you see £3600 bandied about this is INCLUDING the govt 20%). If you take £1000 out, you get £750 of that tax free and the £250 is taxable (if your income puts you over the personal tax allowance). You can't access it though til you're 55 (or 57 from 2028 onwards) so it really is long term depending how old you are! Anyway, that's now. Wouldn't be surprised if Truss et al take an axe to the govt contribution. (Check it out and if you might be a higher rate tax payer might be different regs, not sure about all that stuff). To clarify the %s: If you pay in £2880, then 25% of that is £720 which is what the govt gives you. But £720 is only 20% of £3600. (Also look up 'bed and breakfasting'. Some very naughty people put their money in, get the rebate then take the money out and then funnily enough have enough to pay the same amount back in again the next year... it's illegal I think. Dear GCHG & HMRC I do not do this, I am merely highlighting it as a naughty thing some naughty people do). Jaeluni Asjil fucked around with this message at 20:14 on Oct 1, 2022 |
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Oct 1, 2022 20:01
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Thinking of taking my 6 year old to protest the Tory conference with me tomorrow. I’ve been on a fair few protests before just by myself and they’ve always been fine, but just wanted to check for extra perspectives as I imagine there’s a lot of well practiced protesters in the thread and I’m a little bit cautious about bringing my little one but like the idea of getting her involved in activism nice and early.
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Oct 1, 2022 20:02
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Unless they're unusually adverse to large crowds and sudden loud noises it won't be an issue but if you're planning on storming the conference then I'd suggest leaving them at home.
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Oct 1, 2022 20:03
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Hazard of bringing your child into proximity of tories aside I really would not put it past them to bring out the skull crackers.
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Oct 1, 2022 20:04
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Stand back and watch for a bit first? Get them to make a placard before you go? Something topical for 6 year olds? Like an art and crafts project. Although if it's cute/annoying enough you might well end up in the news... And I dunno like shunned from horse riding club or whatever? Oh tennis I guess.
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Oct 1, 2022 20:08
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team overhead smash posted:Thinking of taking my 6 year old to protest the Tory conference with me tomorrow. Stay near the edge of crowds and be alert for 'escape' routes in case you need to leave on the hurry up. And see where the cop vans are parked might be helpful if they know you have a child with you. I went on a protest extremely many moons ago when I was a student and it was absolutely freezing cold (and this may or may not have been when the chant "Barclays Bank is a fascist bank give your money to me" became wide spread) and the police were actually ok with us, so they were standing on a bridge videoing us all, but as our fingers were swelling up with the cold, they actually lifted the barriers so we could get down the tube or out of the march route. Mind you this was before cops routinely dressed as robocop.
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Oct 1, 2022 20:10
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