Some cracking comments about Aleš Michl, the Czech National Bank's governor and now crypto speculator with a nation's money, in the FT. This one is my favourite, including the bit in bold that I'm stealing for local use:
Pathetic. Many smart and hard working people in Prague but Michl is definitely NOT one of them. He was around (definitely did not run) a Mickey Mouse fund and then worked at Raiffeisen. He is a barmaid fantasy of an investment banker.
It's an interesting concept. Microstrategy been just about best performing stock last year by issuing stock and debt to buy Bitcoin. In theory a country could do the same with its own currency and debt. Politically difficult probably mind!
Hi. I'm looking for some advise. I will be 65 in March and have two final salery pensions that I will be able to take. I have a third one that I took when the pandemic started.
One of the pensions that I will be able to access gives me the opportunity to take a 25% tax free lump sum c£100,000. I'm not sure if I should sacrifice the reduction in the pension c£6k p/a that I will lose or not. I don't really need the cash as I will have the other two pensions, my state pension in 12 months and also rent out two houses and have a fair amount of savings / investments.
Should I take the cash and spend / Invest some of it or max the pension income?. Any advise gladly welcomed. Cheers.
Realistically if you take it and invest it you’ll need to live past 85/90 to be worse off, even if you have a spouse.
id take it, fairly low risk doing so but many upsides!
We all hope we live to a ripe old age, a director at Legal and General many years ago retired on his 65th birthday, guy was a workaholic (not married, no children). I suspect his DB pension was north of £200k a year even back then, he died within 3 weeks so never saw a penny!!
Yep. Sadly the richest man in the grave yard is not a proud boast.
I worked at NatWest for most of my career and still remember in the Eighties paper circulars of recently deceased pensioners who evidently saw little of their retirement.
Comments
Pathetic. Many smart and hard working people in Prague but Michl is definitely NOT one of them. He was around (definitely did not run) a Mickey Mouse fund and then worked at Raiffeisen. He is a barmaid fantasy of an investment banker.
Politically difficult probably mind!