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Savings and Investments thread
Comments
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I need a review of my pension arrangements from somebody in my local area, SE10 - hard to know who to go to as recommendations may not be objective. Difficult to know where to start.golfaddick said:
Obviously I would say this but......always speak to a Financial Advisor, preferably a "whole of market" one (the term has now sadly superseded "Independent"). Either by referral from a friend or colleague or failing that by looking up the FCA register.hoof_it_up_to_benty said:
GARs are obviously nonsensical so I'm not really clear how this was allowed to happen? They had been going since 1762 which is perhaps why people thought they might be trustworthy?golfaddick said:
Anyone in the business (like me) knew Equitable Life couldn't keep it up. GAR's were old hat in the early 90's but Equitable kept on pushing them & people kept investing with them......mainly because their ads said that they didn't pay commission to (nasty smelly) salesmen. 🤔hoof_it_up_to_benty said:
Unless you went to Equitable Life. I went with them many years ago until their GARs destroyed the company - I have no idea what the actuaries were doing with this as it took no account that inflation/interest rates might fall.golfaddick said:£350m "black hole" in the Arcadia Pension fund. I'm glad I didn't mis-sell that one.
Give me a personal pension over a privare sector DC scheme anyday.
Financial regulators are useless as this showed. One of the UK's oldest companies were effectively running a pyramid scheme.
There are also plenty of bad financial advisors out there as well - I obviously am not including you in this!
Financial products are a minefield and getting good advice is difficult. Make the wrong decision and you can lose a fortune.
Who can you trust?
The advisor market has really been cleaned up since the 1980's. No more dodgy ex-car salesmen (yes, I've worked with a few of them in the past) as the level of Compliance & testing that goes on now has weeded them out.
Something I should have done a few years ago.0 -
On a non pension note I see Bitcoin is now $19.4K with a projection to double by 2030. Have to admit I just can’t get my head around Crypto Currencies & mining companies, anyone know a decent link that explains it a very simply logical way. I am not looking to invest directly into Bitcoin but am interested in the technical aspects of mining.
I just want to expand my very limited understanding, I have a few shares in ARB (UK mining company) which are showing a healthy return but in all honesty bought these not through any research from myself but from a recommendation from an old mate.0 -
Can't help on Bitcoin, I dabbled, made a decent bit and sold up, as I just can't understand what drives the many up's and down's!
On another note, Premium bond day tomorrow. Good luck everyone who holds some.
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Ta Rob7Lee 👍Rob7Lee said:Can't help on Bitcoin, I dabbled, made a decent bit and sold up, as I just can't understand what drives the many up's and down's!
On another note, Premium bond day tomorrow. Good luck everyone who holds some.0 -
The two big prizes have gone to people (both female) in South Manchester and Gloucestershire apparently.Rob7Lee said:Can't help on Bitcoin, I dabbled, made a decent bit and sold up, as I just can't understand what drives the many up's and down's!
On another note, Premium bond day tomorrow. Good luck everyone who holds some.
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yer I read that, blood sexist is NS&IChaz Hill said:
The two big prizes have gone to people (both female) in South Manchester and Gloucestershire apparently.Rob7Lee said:Can't help on Bitcoin, I dabbled, made a decent bit and sold up, as I just can't understand what drives the many up's and down's!
On another note, Premium bond day tomorrow. Good luck everyone who holds some.
Still a few £100k one's up for grabs though ........0 -
You just know that is going to be Mouthall's partner!Chaz Hill said:
The two big prizes have gone to people (both female) in South Manchester and Gloucestershire apparently.Rob7Lee said:Can't help on Bitcoin, I dabbled, made a decent bit and sold up, as I just can't understand what drives the many up's and down's!
On another note, Premium bond day tomorrow. Good luck everyone who holds some.6 -
Might be worth a read for those who understand those sort of thing,
https://apple.news/Am5z8F4MuRJC2qH0JqzWrxg
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Don't think you can buy Premium Bonds with a credit card!Fortune 82nd Minute said:
You just know that is going to be Mouthall's partner!Chaz Hill said:
The two big prizes have gone to people (both female) in South Manchester and Gloucestershire apparently.Rob7Lee said:Can't help on Bitcoin, I dabbled, made a decent bit and sold up, as I just can't understand what drives the many up's and down's!
On another note, Premium bond day tomorrow. Good luck everyone who holds some.4 -
Rob7Lee said:
yer I read that, blood sexist is NS&IChaz Hill said:
The two big prizes have gone to people (both female) in South Manchester and Gloucestershire apparently.Rob7Lee said:Can't help on Bitcoin, I dabbled, made a decent bit and sold up, as I just can't understand what drives the many up's and down's!
On another note, Premium bond day tomorrow. Good luck everyone who holds some.
Still a few £100k one's up for grabs though ........
Oi Premium Bonds what about us in Deepest Darkest DaarrzzettAshers said:
Don't think you can buy Premium Bonds with a credit card!Fortune 82nd Minute said:
You just know that is going to be Mouthall's partner!Chaz Hill said:
The two big prizes have gone to people (both female) in South Manchester and Gloucestershire apparently.Rob7Lee said:Can't help on Bitcoin, I dabbled, made a decent bit and sold up, as I just can't understand what drives the many up's and down's!
On another note, Premium bond day tomorrow. Good luck everyone who holds some.
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I think I've lost more money investing in miners than any other way, particularly small ones.Daarrzzetbum said:On a non pension note I see Bitcoin is now $19.4K with a projection to double by 2030. Have to admit I just can’t get my head around Crypto Currencies & mining companies, anyone know a decent link that explains it a very simply logical way. I am not looking to invest directly into Bitcoin but am interested in the technical aspects of mining.
I just want to expand my very limited understanding, I have a few shares in ARB (UK mining company) which are showing a healthy return but in all honesty bought these not through any research from myself but from a recommendation from an old mate.
Even if you avoid the charlatans and crooks, they are effectively an option on the commodity they mine due to high, more or less fixed costs. Once the commodity goes above the cost of production, they can go up quickly. If the price sinks below cost, they plummet.
The explorers are even riskier - some of them are binary on finding sources and then require huge amount of capital to set up and often chew through early equity investors and end up getting owned by the banks.
On top of that they operate in challenging environments and subject to all sorts of disruptions due to the weather, wars, strikes, accidents, disputes with local government, etc. I'm going back to mining pooled funds ....
Bitcoin, you can think more of as a gold alternative. Add in that the jury is still out on whether its a safe store of value, hence the wild gyrations.1 -
I think the mining he was Referring to was the mining of Bit Coin, which is I believe how new BitCoins are created.0
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Appreciate the response #WishIdStayedinthePubWishIdStayedinthePub said:
I think I've lost more money investing in miners than any other way, particularly small ones.Daarrzzetbum said:On a non pension note I see Bitcoin is now $19.4K with a projection to double by 2030. Have to admit I just can’t get my head around Crypto Currencies & mining companies, anyone know a decent link that explains it a very simply logical way. I am not looking to invest directly into Bitcoin but am interested in the technical aspects of mining.
I just want to expand my very limited understanding, I have a few shares in ARB (UK mining company) which are showing a healthy return but in all honesty bought these not through any research from myself but from a recommendation from an old mate.
Even if you avoid the charlatans and crooks, they are effectively an option on the commodity they mine due to high, more or less fixed costs. Once the commodity goes above the cost of production, they can go up quickly. If the price sinks below cost, they plummet.
The explorers are even riskier - some of them are binary on finding sources and then require huge amount of capital to set up and often chew through early equity investors and end up getting owned by the banks.
On top of that they operate in challenging environments and subject to all sorts of disruptions due to the weather, wars, strikes, accidents, disputes with local government, etc. I'm going back to mining pooled funds ....
Bitcoin, you can think more of as a gold alternative. Add in that the jury is still out on whether its a safe store of value, hence the wild gyrations.0 -
Are you suggesting that a financial advisor might recommend a course of action that is not in your best interests and merely trying to line his own pocket ?hoof_it_up_to_benty said:
I need a review of my pension arrangements from somebody in my local area, SE10 - hard to know who to go to as recommendations may not be objective. Difficult to know where to start.golfaddick said:
Obviously I would say this but......always speak to a Financial Advisor, preferably a "whole of market" one (the term has now sadly superseded "Independent"). Either by referral from a friend or colleague or failing that by looking up the FCA register.hoof_it_up_to_benty said:
GARs are obviously nonsensical so I'm not really clear how this was allowed to happen? They had been going since 1762 which is perhaps why people thought they might be trustworthy?golfaddick said:
Anyone in the business (like me) knew Equitable Life couldn't keep it up. GAR's were old hat in the early 90's but Equitable kept on pushing them & people kept investing with them......mainly because their ads said that they didn't pay commission to (nasty smelly) salesmen. 🤔hoof_it_up_to_benty said:
Unless you went to Equitable Life. I went with them many years ago until their GARs destroyed the company - I have no idea what the actuaries were doing with this as it took no account that inflation/interest rates might fall.golfaddick said:£350m "black hole" in the Arcadia Pension fund. I'm glad I didn't mis-sell that one.
Give me a personal pension over a privare sector DC scheme anyday.
Financial regulators are useless as this showed. One of the UK's oldest companies were effectively running a pyramid scheme.
There are also plenty of bad financial advisors out there as well - I obviously am not including you in this!
Financial products are a minefield and getting good advice is difficult. Make the wrong decision and you can lose a fortune.
Who can you trust?
The advisor market has really been cleaned up since the 1980's. No more dodgy ex-car salesmen (yes, I've worked with a few of them in the past) as the level of Compliance & testing that goes on now has weeded them out.
Something I should have done a few years ago.0 -
Well it's not impossible.🤔golfaddick said:
Are you suggesting that a financial advisor might recommend a course of action that is not in your best interests and merely trying to line his own pocket ?hoof_it_up_to_benty said:
I need a review of my pension arrangements from somebody in my local area, SE10 - hard to know who to go to as recommendations may not be objective. Difficult to know where to start.golfaddick said:
Obviously I would say this but......always speak to a Financial Advisor, preferably a "whole of market" one (the term has now sadly superseded "Independent"). Either by referral from a friend or colleague or failing that by looking up the FCA register.hoof_it_up_to_benty said:
GARs are obviously nonsensical so I'm not really clear how this was allowed to happen? They had been going since 1762 which is perhaps why people thought they might be trustworthy?golfaddick said:
Anyone in the business (like me) knew Equitable Life couldn't keep it up. GAR's were old hat in the early 90's but Equitable kept on pushing them & people kept investing with them......mainly because their ads said that they didn't pay commission to (nasty smelly) salesmen. 🤔hoof_it_up_to_benty said:
Unless you went to Equitable Life. I went with them many years ago until their GARs destroyed the company - I have no idea what the actuaries were doing with this as it took no account that inflation/interest rates might fall.golfaddick said:£350m "black hole" in the Arcadia Pension fund. I'm glad I didn't mis-sell that one.
Give me a personal pension over a privare sector DC scheme anyday.
Financial regulators are useless as this showed. One of the UK's oldest companies were effectively running a pyramid scheme.
There are also plenty of bad financial advisors out there as well - I obviously am not including you in this!
Financial products are a minefield and getting good advice is difficult. Make the wrong decision and you can lose a fortune.
Who can you trust?
The advisor market has really been cleaned up since the 1980's. No more dodgy ex-car salesmen (yes, I've worked with a few of them in the past) as the level of Compliance & testing that goes on now has weeded them out.
Something I should have done a few years ago.1 -
Bonds day. £25 for me, nought for the Mrs.0
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golfaddick said:
Obviously I would say this but......always speak to a Financial Advisor, preferably a "whole of market" one (the term has now sadly superseded "Independent"). Either by referral from a friend or colleague or failing that by looking up the FCA register.hoof_it_up_to_benty said:
GARs are obviously nonsensical so I'm not really clear how this was allowed to happen? They had been going since 1762 which is perhaps why people thought they might be trustworthy?golfaddick said:
Anyone in the business (like me) knew Equitable Life couldn't keep it up. GAR's were old hat in the early 90's but Equitable kept on pushing them & people kept investing with them......mainly because their ads said that they didn't pay commission to (nasty smelly) salesmen. 🤔hoof_it_up_to_benty said:
Unless you went to Equitable Life. I went with them many years ago until their GARs destroyed the company - I have no idea what the actuaries were doing with this as it took no account that inflation/interest rates might fall.golfaddick said:£350m "black hole" in the Arcadia Pension fund. I'm glad I didn't mis-sell that one.
Give me a personal pension over a privare sector DC scheme anyday.
Financial regulators are useless as this showed. One of the UK's oldest companies were effectively running a pyramid scheme.
There are also plenty of bad financial advisors out there as well - I obviously am not including you in this!
Financial products are a minefield and getting good advice is difficult. Make the wrong decision and you can lose a fortune.
Who can you trust?
The advisor market has really been cleaned up since the 1980's. No more dodgy ex-car salesmen (yes, I've worked with a few of them in the past) as the level of Compliance & testing that goes on now has weeded them out.A Thai friend went on a course two weeks ago. Three days. She now has cards and a Facebook page with the term Financial Advisor as the job description. I prefer to refer to her as an unqualified insurance salesperson.They are years behind the Western world here.1 -
Diddly-squat for me this month.
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And me, and the wife!guinnessaddick said:Diddly-squat for me this month.0 -
Yep no Xmas for me eitherRob7Lee said:
And me, and the wife!guinnessaddick said:Diddly-squat for me this month.0 - Sponsored links:
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Maybe the system messed up!0
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I don't normally get an email until about the 4th of the month. Still hoping!!!
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Just type your bond number in on the website.Bangkokaddick said:I don't normally get an email until about the 4th of the month. Still hoping!!!3 -
Quiet month all round on the PB front by the looks of it. 2x£25 for the wife and nothing for me and the boy
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Perish the very thought.golfaddick said:
Are you suggesting that a financial advisor might recommend a course of action that is not in your best interests and merely trying to line his own pocket ?hoof_it_up_to_benty said:
I need a review of my pension arrangements from somebody in my local area, SE10 - hard to know who to go to as recommendations may not be objective. Difficult to know where to start.golfaddick said:
Obviously I would say this but......always speak to a Financial Advisor, preferably a "whole of market" one (the term has now sadly superseded "Independent"). Either by referral from a friend or colleague or failing that by looking up the FCA register.hoof_it_up_to_benty said:
GARs are obviously nonsensical so I'm not really clear how this was allowed to happen? They had been going since 1762 which is perhaps why people thought they might be trustworthy?golfaddick said:
Anyone in the business (like me) knew Equitable Life couldn't keep it up. GAR's were old hat in the early 90's but Equitable kept on pushing them & people kept investing with them......mainly because their ads said that they didn't pay commission to (nasty smelly) salesmen. 🤔hoof_it_up_to_benty said:
Unless you went to Equitable Life. I went with them many years ago until their GARs destroyed the company - I have no idea what the actuaries were doing with this as it took no account that inflation/interest rates might fall.golfaddick said:£350m "black hole" in the Arcadia Pension fund. I'm glad I didn't mis-sell that one.
Give me a personal pension over a privare sector DC scheme anyday.
Financial regulators are useless as this showed. One of the UK's oldest companies were effectively running a pyramid scheme.
There are also plenty of bad financial advisors out there as well - I obviously am not including you in this!
Financial products are a minefield and getting good advice is difficult. Make the wrong decision and you can lose a fortune.
Who can you trust?
The advisor market has really been cleaned up since the 1980's. No more dodgy ex-car salesmen (yes, I've worked with a few of them in the past) as the level of Compliance & testing that goes on now has weeded them out.
Something I should have done a few years ago.
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£50 for me.2
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£50.00 for me, not sure about wifey she’s lost her bond number, she awaits the email or non email, still we know it ain’t the biggy 🤨0
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This is the first draw after the prize winning rates have been cut. Less money in the prize pot, less winners. Get used to reduced prizes I'm afraid.0
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Bugger all this month.0
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As per usual my Father in law won, £150. It's now been over 3 years since he last didn't win and only 4 times has he won less than £100! Some people get all the luck.0
