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Savings and Investments thread
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2 x £25 here0
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No PBs this month, but won £67 on the lottery last night!3
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£25 for Mr F & £50 for Fanny.
( Cheap at the price....)2 -
So is it £75 for the 2 of you. Asking for a friend.....😉Fanny Fanackapan said:£25 for Mr F & £50 for Fanny.
( Cheap at the price....)4 -
My head hurts0
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Starting to get royally cheesed off with Interactive Investor. I guess you sometimes get what you pay for! Shame as for my SIPP they are by far the cheapest provider. Declined a payment from me as I moved……. Despite telling them my new address they don’t bother informing their payment merchant WorldPay……
Really can’t be ar$ed to start shopping around again…… but may have to.0 -
How's the FTSE100 Comp coming along @Rob7Lee ? Halfway through it & with the recent upswing in the FTSE I wonder where we are all standing.0
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Here you go;
Name Level Variance % Variance LargeAddick 7547 11.92 0.16% 7558.92 Gary Poole 7574 15.08 0.20% 7558.92 PragueAddick 7533 25.92 0.34% 7558.92 holyjo 7594 35.08 0.46% 7558.92 Rob7Lee 7605 46.08 0.61% 7558.92 StrikerFirmani 7510 48.92 0.65% 7558.92 @TelMc32 7621 62.08 0.82% 7558.92 WishIdStayedInThe Pub 7634 75.08 0.99% 7558.92 Addick Addict 7652 93.08 1.23% 7558.92 TheGhostofTomHovi 7666 107.08 1.42% 7558.92 fat man on a moped 7675 116.08 1.54% 7558.92 Thread Killer 7437 121.92 1.61% 7558.92 Bangkokaddick 7686 127.08 1.68% 7558.92 thecat 7690 131.08 1.73% 7558.92 RalphMilne 7702 143.08 1.89% 7558.92 Daarrrzzettbum 7717 158.08 2.09% 7558.92 Covered End 7721 162.08 2.14% 7558.92 golfaddick 7730 171.08 2.26% 7558.92 Housty 7747 188.08 2.49% 7558.92 Salad 7750 191.08 2.53% 7558.92 IdleHans 7777 218.08 2.89% 7558.92 meldrew66 7337 221.92 2.94% 7558.92 CAFCWest 7799 240.08 3.18% 7558.92 valleynick66 7801 242.08 3.20% 7558.92 Pedro45 7297 261.92 3.47% 7558.92 Lonelynorthernaddick 7845 286.08 3.78% 7558.92 MrOneLung 7270 288.92 3.82% 7558.92 CharltonKerry 7860 301.08 3.98% 7558.92 Fortune 82nd Minute 7250 308.92 4.09% 7558.92 blackpool72 7880 321.08 4.25% 7558.92 HardyAddick 7892 333.08 4.41% 7558.92 bobmunro 7897 338.08 4.47% 7558.92 gunnessaddick 7936 377.08 4.99% 7558.92 wwaddick 8002 443.08 5.86% 7558.92 Hoof_it_up_to_benty 7100 458.92 6.07% 7558.92 Er_Be_Ab_Pl_Wo_Wo_Ch 8250 691.08 9.14% 7558.92 oohaahmortimer 6789 769.92 10.19% 7558.92 3 -
@golfaddick, want some advice next time bro?8
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I heard on 'Wake up to Money' this morning that student loans are set to soar to 12%. Might be worth paying up if possible.
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Not such a bad deal if inflation hits 10% or more!Raith_C_Chattonell said:I heard on 'Wake up to Money' this morning that student loans are set to soar to 12%. Might be worth paying up if possible.0 -
I thought you weren’t able to settle early, might be wrong?Raith_C_Chattonell said:I heard on 'Wake up to Money' this morning that student loans are set to soar to 12%. Might be worth paying up if possible.0 -
You absolutely can settle early.Daarrzzetbum said:
I thought you weren’t able to settle early, might be wrong?Raith_C_Chattonell said:I heard on 'Wake up to Money' this morning that student loans are set to soar to 12%. Might be worth paying up if possible.3 -
bobmunro said:
You absolutely can settle early.Daarrzzetbum said:
I thought you weren’t able to settle early, might be wrong?Raith_C_Chattonell said:I heard on 'Wake up to Money' this morning that student loans are set to soar to 12%. Might be worth paying up if possible.
Ta for clarification Bob 👍bobmunro said
You absolutely can settle early.Daarrzzetbum said:
I thought you weren’t able to settle early, might be wrong?Raith_C_Chattonell said:I heard on 'Wake up to Money' this morning that student loans are set to soar to 12%. Might be worth paying up if possible.0 -
I don't know the details, but it's only for a short period before dropping very low again in about a year.Raith_C_Chattonell said:I heard on 'Wake up to Money' this morning that student loans are set to soar to 12%. Might be worth paying up if possible.
I'll leave anyone interested to look it up.0 -
Probably the worse thing to do. Admittedly I dont know too much about SL as I never had one, but of what I do knowRaith_C_Chattonell said:I heard on 'Wake up to Money' this morning that student loans are set to soar to 12%. Might be worth paying up if possible.
& read about, the increase to 12% is only very temporary as its linked to inflation & so will fall again next year, where the interest rate charged is predicted to be close to 0%.
I believe you also still pay the same every month & the extra interest is simply added on by increasing the term you pay it over. Seeing as a lot of people with SL never fully pay it back then its makes no sense to pay it off now.3 -
Still a long way to go bro...LargeAddick said:@golfaddick, want some advice next time bro?1 -
Is it just me or is this “ correction” going on a long time
my investments down 5% from peak0 -
If we have a sustained period of higher inflation/interest rates it may well be worth considering paying off.
I'm not convinced at all by the rhetoric of 'a lot will never pay it back', you can bet your bottom dollar the level at which you start paying it back will not keep up with inflation over time and therefore in 10/15/20 years the very lowest paid jobs will be above the starting point. Just look at all the other limits that don't move up in line.
If on plan 2 (after 2012) the interest rate also increases the more you earn.
My bet is student loans will still be kicking in at the £25k ish level in about 15 years time (depending what scheme you are on it ticks in at between 20 and 27k currently), they last for 30 years (so for most into their early to mid 50's).
For both my daughters I got them to take the fee loan only, predominantly in case Corbyn got in! But I'll likely pay it off for them, my eldest (graduated last summer) is already paying her's back each month at an alarming rate!
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I think the alarming interest rates hide the real issue in the repayment threshold being frozen. It’s a sneaky way to reduce education spending that’s going to hit modest earning graduates in the pocket! At least the repayments are pegged to income, so you don’t need to worry if you stop/lower income and at some point it can be written off. For simplicity, I wish they would just make a tax for it as it’s not straightforward to get to grips with, especially as a 17 year old.Rob7Lee said:If we have a sustained period of higher inflation/interest rates it may well be worth considering paying off.
I'm not convinced at all by the rhetoric of 'a lot will never pay it back', you can bet your bottom dollar the level at which you start paying it back will not keep up with inflation over time and therefore in 10/15/20 years the very lowest paid jobs will be above the starting point. Just look at all the other limits that don't move up in line.
If on plan 2 (after 2012) the interest rate also increases the more you earn.
My bet is student loans will still be kicking in at the £25k ish level in about 15 years time (depending what scheme you are on it ticks in at between 20 and 27k currently), they last for 30 years (so for most into their early to mid 50's).
For both my daughters I got them to take the fee loan only, predominantly in case Corbyn got in! But I'll likely pay it off for them, my eldest (graduated last summer) is already paying her's back each month at an alarming rate!0 - Sponsored links:
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If the student loan was for studies that commenced prior to 2012 then I would agree - it's fixed at 1.5%.golfaddick said:
Probably the worse thing to do. Admittedly I dont know too much about SL as I never had one, but of what I do knowRaith_C_Chattonell said:I heard on 'Wake up to Money' this morning that student loans are set to soar to 12%. Might be worth paying up if possible.
& read about, the increase to 12% is only very temporary as its linked to inflation & so will fall again next year, where the interest rate charged is predicted to be close to 0%.
I believe you also still pay the same every month & the extra interest is simply added on by increasing the term you pay it over. Seeing as a lot of people with SL never fully pay it back then its makes no sense to pay it off now.
After then it's RPI or RPI plus 3% for those earning above a certain amount. It makes no sense to pay maybe 10 or 12% when a personal loan can be got for much less - unless you are correct and RPI is likely to fall to zero next year.
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Not sure if others have seen the Chase (JP Morgan) online account? Martin Lewis in favour. I've just opened one - app based but paying 1% cashback on most daily purchases using their debit card and 1.5% on savings (no tie in). No conditions and don't need to actually change bank. Seems a good deal.1
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A word of warning to any of you who are in DB schemes & who are higher rate taxpayers......make sure you get an Annual Allowance statement every year & make sure the pension scheme administrators have your current address.
Just see a client (dentist) who has never had or requested an AA statement. She is in the NHS Pension scheme & Pension Savings Statements are sent out to all members who exceed the £40k AA (usually in September ).
I have been telling her to access her Total Rewards Statement for a few years now but she never has. Finally I sat with her & tried to get her to log online with the Government Gateway site but it didnt work, so we persevered & rang the NHS Pension Agency. After more than an hour of being on hold & talking to various call handlers we managed to get her latest figures.....as it appears they still had her address down as a Dental Practice she last worked at over 10 years ago.
All this meant she never recieved any statements & due to a massive increase in earnings (from c£90k 5 years ago to over £200k now) she has pension growth in the past 4 years of a whooping £305k. Added to the fact she will not have the usual £40k AA due to tapering (in addition to her dentistry income she also has rental income from 3 BTL's) and therefore a very large amount of the £305k will be assessed for an excess tax charge of 55%. I need to speak to her Accountant (which she should get rid off asap imo as none of this has been addressed at all it seems) but I would estimate that she could have a tax bill of around £150k.
So.....the AA and the LTA is a great stealth tax, dreamed up by Whitehall & delivered by various Tory Chancellor's over the past 10 years.3 -
No wonder I can't get a dentist appointment, they're too busy counting their money.golfaddick said:A word of warning to any of you who are in DB schemes & who are higher rate taxpayers......make sure you get an Annual Allowance statement every year & make sure the pension scheme administrators have your current address.
Just see a client (dentist) who has never had or requested an AA statement. She is in the NHS Pension scheme & Pension Savings Statements are sent out to all members who exceed the £40k AA (usually in September ).
I have been telling her to access her Total Rewards Statement for a few years now but she never has. Finally I sat with her & tried to get her to log online with the Government Gateway site but it didnt work, so we persevered & rang the NHS Pension Agency. After more than an hour of being on hold & talking to various call handlers we managed to get her latest figures.....as it appears they still had her address down as a Dental Practice she last worked at over 10 years ago.
All this meant she never recieved any statements & due to a massive increase in earnings (from c£90k 5 years ago to over £200k now) she has pension growth in the past 4 years of a whooping £305k. Added to the fact she will not have the usual £40k AA due to tapering (in addition to her dentistry income she also has rental income from 3 BTL's) and therefore a very large amount of the £305k will be assessed for an excess tax charge of 55%. I need to speak to her Accountant (which she should get rid off asap imo as none of this has been addressed at all it seems) but I would estimate that she could have a tax bill of around £150k.
So.....the AA and the LTA is a great stealth tax, dreamed up by Whitehall & delivered by various Tory Chancellor's over the past 10 years.5 -
That’s good money for a failed doctor3
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Premium Bond Day - £150 for me, £50 for the missus, £50 for my Mum. Happy Star Wars Day indeed.1
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A bad month!
£25 for me, £50 for one daughter, nowt for Mrs R7L or my other daughter.
edit - £25 for Father in law.0 -
A big fat zero for me this month.0
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£25 for me this month0
