Bobby Deluxe posted:

E: I read it so you don't have to:

quote:

I ran a community school in Zambia (where my husband was working)

Guavanaut posted:

What happens on the day that both parties just respond to that with 'lol, lmao'?



(to newspaper threats specifically. they'll keep moving further right economically for their backers without any other pressure.)

Kin posted:

I'm starting to get my finances in order with my second kid due in a month and just opened up a savings account with a 3.91% interest rate (Shawbrook if anyone's interested).

I'm just doing the long-term sums and wondering if I have them right.

Basically, we've put £10k in there, to begin with, and plan on topping it up with £12k a year every year until we retire (we're 40 now)

I know interest rates will rise and fall, but if they stay flat at 3.91% for the next 35 years and we keep putting £12k in each year, my excel sums say that when I'm 75, the account will be making ~£37k a year in interest. Does that sound about right?

I dragged that pattern out for another 25 years till I'm 100 and the annual interest jumps up to £116k per year.

If my kids take it on and continue to contribute to it in the same way, then pass it on to my potential grandkids, by the time they hit about 70 the interest will be over half a million per year.

Surely there's a cap to this, or is this basically how the rich stay rich by passing on generational wealth using compound interests (and possibly some sort of inheritance tax avoidance to speed it up).

I mean it's a silly long time to consider, but by the time the account is 115 years old (if my sums are right) it'll be making £1M a year in interest and be long past the point of it actually needing additional money put into it.

Kin posted:

I'm starting to get my finances in order with my second kid due in a month and just opened up a savings account with a 3.91% interest rate (Shawbrook if anyone's interested).

I'm just doing the long-term sums and wondering if I have them right.

Basically, we've put £10k in there, to begin with, and plan on topping it up with £12k a year every year until we retire (we're 40 now)

I know interest rates will rise and fall, but if they stay flat at 3.91% for the next 35 years and we keep putting £12k in each year, my excel sums say that when I'm 75, the account will be making ~£37k a year in interest. Does that sound about right?

I dragged that pattern out for another 25 years till I'm 100 and the annual interest jumps up to £116k per year.

If my kids take it on and continue to contribute to it in the same way, then pass it on to my potential grandkids, by the time they hit about 70 the interest will be over half a million per year.

Surely there's a cap to this, or is this basically how the rich stay rich by passing on generational wealth using compound interests (and possibly some sort of inheritance tax avoidance to speed it up).

I mean it's a silly long time to consider, but by the time the account is 115 years old (if my sums are right) it'll be making £1M a year in interest and be long past the point of it actually needing additional money put into it.

Jel Shaker posted:

the bbc morning news is defined by the “what the papers say” segment, so circulation isn’t really what’s important

Guavanaut posted:

What happens on the day that both parties just respond to that with 'lol, lmao'?



(to newspaper threats specifically. they'll keep moving further right economically for their backers without any other pressure.)

Bobby Deluxe posted:

Followed by an absolutely normal career progression every child born in poverty gets, by selling her business to another business she was director of. Before pulling the ladder up behind her by joining the conservatives once she was making idle money.

All normal stuff there.

BalloonFish posted:

Bit like Keir and his "my father was a toolmaker my father ran a tool factory" shtick.

oxford_town posted:

broadly speaking yes, but you haven't accounted for inflation in your sums (and taxes if you're outside an ISA).

as Jel Shaker says you should probably be in equities for that investment horizon rather than a savings account. I also think you should probably do this in a SIPP if you're not planning to touch this until retirement.

Guavanaut posted:

What happens on the day that both parties just respond to that with 'lol, lmao'?



(to newspaper threats specifically. they'll keep moving further right economically for their backers without any other pressure.)

Tesseraction posted:

Round of applause for whichever dipshit gave The Sun and the Mirror colours that are frustratingly similar

Jel Shaker posted:

yep SIPP is pretty good for retirement and you can take 25% out tax free at 50, but the caveat is you can’t take it out before then unless you’re really sick. also you put 4 grand in you get 5 grand in your account because of tax reasons

forgot to say get the stocks and shares LISA if you’re under 40 (just open it!) as the government gives you a 25% bonus on the money you put in that (4 grand turns into 5 grand) but you are then only able to put 16 grand in your isa allowance elsewhere

so basically max out your ISA LISA stocks and shares and then divide your money between the standard stocks and shares ISA if you need the money before retirement or SIPP for retirement (with 25% at 50 if you need it)

premium bonds are for chumps

Jaeluni Asjil posted:

If there was a sort of subscription service which the online news'papers', other news services (blogs or whatever) signed up to and I could pay - I dunno, a monthly sub of say £10 or say '10p per article capped at a max of £10' - I would willingly sign up to it. I ran the idea a year or so ago on FB and quite a few of my friends said they would happily sign up too.

Red Oktober posted:

I think this is exactly what Apple News is - haven’t used it myself but it keeps popping up on my phone.

Jel Shaker posted:

yep SIPP is pretty good for retirement and you can take 25% out tax free at 50, but the caveat is you can’t take it out before then unless you’re really sick. also you put 4 grand in you get 5 grand in your account because of tax reasons

forgot to say get the stocks and shares LISA if you’re under 40 (just open it!) as the government gives you a 25% bonus on the money you put in that (4 grand turns into 5 grand) but you are then only able to put 16 grand in your isa allowance elsewhere

so basically max out your ISA LISA stocks and shares and then divide your money between the standard stocks and shares ISA if you need the money before retirement or SIPP for retirement (with 25% at 50 if you need it)

premium bonds are for chumps

Kin posted:

Guavanaut posted:

So you won't be spending $3,499 to have a virtual copy of the Daily Mail float in front of your vision at all times?

Nuclear Spoon posted:

learning that the counsel to the covid preparedness inquiry is a man named "hugo keith"

Jaeluni Asjil posted:

I don't think the figures relating to print news are too relevant these days when a lot of people read news online and potentially articles from different sources.

Why buy a print newspaper with about a half of it devoted to sport / tv guides / celebrity gossip / soaps updates (all a complete waste of trees IMHO) when I can read a range of articles on things that I am interested in online and if there's a particularly interesting story can read it across 5 or 6 different online news outlets all with their different perspectives & agendas - certainly couldn't afford to buy 5-6 different paper newspapers (can't afford online subs for that many either).

If there was a sort of subscription service which the online news'papers', other news services (blogs or whatever) signed up to and I could pay - I dunno, a monthly sub of say £10 or say '10p per article capped at a max of £10' - I would willingly sign up to it. I ran the idea a year or so ago on FB and quite a few of my friends said they would happily sign up too.

Nuclear Spoon posted:

https://twitter.com/whippletom/status/1668561420194127873

cool

Kin posted:

Yeah, speaking to a financial advisor us on our pre baby to do list.

I only opened up that savings account because it was one listed by Martin Lewis with the highest interest rate and my savings have been sitting in a Halifax ISA with a tiny interest rate for years.

Opened up a moneybox LISA last year, so that's been getting topped up first, but it's just about where to put the rest of the savings we currently have (and the best way to keep that topped up).

I'm about a year we'll be looking at £2k a month nursery fees, which will be like that for a year and a half so we need to get advice to find a balance.

The sooner we save better the sooner we're more set for retirement, but these upfront costs need taken care of first.

winegums posted:

I find most online news sources to be utterly horrific to read. Local papers especially have an endless procession of popups, add bars, breaks in the story for more adverts. Broadsheets and the BBC have made slightly more usable websites but on the whole online news is not designed for reading. As well as that it's a far more democratised system - only a few people can print newspapers and distribute them but anyone can open a website or post on social media.


That said nothing is going to change for a while because none of this is based on reality and those in power don't want it to change. The spectator has a circulation below 100k but the ghouls from that magazine are constantly on TV. We're going to reach a point where highly consumed YouTube channels, Twitch streams or Twitter/IG accounts could argue a greater media influence and right to be on panel shows, but that won't be allowed to happen until the right people get those systems on lockdown.