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Savings and Investments thread

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  • Rob7Lee said:
    IdleHans said:
    Letting it ride for the moment but the US looks a bit frothy now. Finger is moving nearer to the sell button.
    My thoughts entirely, I keep rebalancing the US down and then it grows again!
    Just sold my little Nvidia holding on the back of wise advice to leave a bit of profit for the next bloke. Might buy back on any dip, but I've had a good run with it so happy. Probably should do likewise with AMD but couldnt bring myself to press the button this evening.

  • IdleHans said:
    Rob7Lee said:
    IdleHans said:
    Letting it ride for the moment but the US looks a bit frothy now. Finger is moving nearer to the sell button.
    My thoughts entirely, I keep rebalancing the US down and then it grows again!
    Just sold my little Nvidia holding on the back of wise advice to leave a bit of profit for the next bloke. Might buy back on any dip, but I've had a good run with it so happy. Probably should do likewise with AMD but couldnt bring myself to press the button this evening.

    Profit for the next bloke. Not heard that one before!
  • edited March 7
    Rob7Lee said:
    I guess it can come under savings, but a nice little NI reduction in the budget.
    Does nothing for the low paid (earning less than £12,570) as they don't pay it or for those over retirement age who are still working (quite a few now) who also don't pay it.  And obviously does nothing for those who have retired.  By freezing personal allowances more and more people are now into the higher rate bracket.  If he wanted the "grey vote" he should have reduced basic rate income tax by 2p or changed the personal allowances.  It was all about trying to fool people into thinking they would actually be better off...
  • CafcWest said:
    Rob7Lee said:
    I guess it can come under savings, but a nice little NI reduction in the budget.
    Does nothing for the low paid (earning less than £12,570) as they don't pay it or for those over retirement age who are still working (quite a few now) who also don't pay it.  And obviously does nothing for those who have retired.  By freezing personal allowances more and more people are now into the higher rate bracket.  If he wanted the "grey vote" he should have reduced basic rate income tax by 2p or changed the personal allowances.  It was all about trying to fool people into thinking they would actually be better off...
    Agree with most of that, I also think it was to do with the triple lock and was not to appeal to the grey vote, needed a way to appeal to the non state pensioners.
  • Rob7Lee said:
    CafcWest said:
    Rob7Lee said:
    I guess it can come under savings, but a nice little NI reduction in the budget.
    Does nothing for the low paid (earning less than £12,570) as they don't pay it or for those over retirement age who are still working (quite a few now) who also don't pay it.  And obviously does nothing for those who have retired.  By freezing personal allowances more and more people are now into the higher rate bracket.  If he wanted the "grey vote" he should have reduced basic rate income tax by 2p or changed the personal allowances.  It was all about trying to fool people into thinking they would actually be better off...
    Agree with most of that, I also think it was to do with the triple lock and was not to appeal to the grey vote, needed a way to appeal to the non state pensioners.
    Suggestion from some is there will be another ‘fiscal’ event in the Autumn when the tax cuts will be greater and then call the election. 
  • It's only during budget announcements that I hear 'P' used rather than 'Percent'. Is there any reason for this? Am I missing something. 
  • edited March 7
    mendonca said:
    It's only during budget announcements that I hear 'P' used rather than 'Percent'. Is there any reason for this? Am I missing something. 
    The "P" is pence, so I expect its because they think it will resonant more with the general public as it is in ££££   rather than  %%%%. They think the "man in the street" will understand it more as its in monetary terms rather than a "mathematical" figure.   
  • I just don't understand its use. Something that was never taught in my economics degree (many years back, mind).

    "Hunt announced a widely-trailed 2p cut in National Insurance (NI), reducing the rate paid by employees from 10% to 8%, and from 8% to 6% for the self-employed."
  • mendonca said:
    I just don't understand its use. Something that was never taught in my economics degree (many years back, mind).

    "Hunt announced a widely-trailed 2p IN THE POUND cut in National Insurance (NI), reducing the rate paid by employees from 10% to 8%, and from 8% to 6% for the self-employed."
    Does that sound better.
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  • Any pensions experts on here?

    I've deferred my state pension by a year but looking at the figures it's not the best thing to do. I did it to avoid paying a higher rate of tax.

    I'm considering taking the pension but having the amount of the pension each month paid from my salary as an avc to my work pension. That way I can increase the lump sum and take 25% as a lump sum tax free when I retire. I will also get the 20% Government top up and tax relief on the rest when I complete my tax return. 

    That is my understanding but I may be missing something. Thoughts?

    NB I probably can't use my main personal pension fund as it's offshore as a QROPS.
  • Any pensions experts on here?

    I've deferred my state pension by a year but looking at the figures it's not the best thing to do. I did it to avoid paying a higher rate of tax.

    I'm considering taking the pension but having the amount of the pension each month paid from my salary as an avc to my work pension. That way I can increase the lump sum and take 25% as a lump sum tax free when I retire. I will also get the 20% Government top up and tax relief on the rest when I complete my tax return. 

    That is my understanding but I may be missing something. Thoughts?

    NB I probably can't use my main personal pension fund as it's offshore as a QROPS.
    Not sure I understand you.

    So you are thinking about taking the State Pension and then paying a similar amount from your earned income (?) into your works pension (not sure why it's an AVC ?) - Yes ??

    If so.....

    Then conceivably I dont see a problem. Would depend on the type of pension your employer runs. Shouldn't fall foul of the recycling rules but cant say I've ever come across someone doing that. You must be 66/67.....when do you anticipate retiring fully?

    Might be best to just stick the State Pension income into an ISA. Wont get the tax relief going in but wont be taxed coming out. 
  • mendonca said:
    IdleHans said:
    Rob7Lee said:
    IdleHans said:
    Letting it ride for the moment but the US looks a bit frothy now. Finger is moving nearer to the sell button.
    My thoughts entirely, I keep rebalancing the US down and then it grows again!
    Just sold my little Nvidia holding on the back of wise advice to leave a bit of profit for the next bloke. Might buy back on any dip, but I've had a good run with it so happy. Probably should do likewise with AMD but couldnt bring myself to press the button this evening.

    Profit for the next bloke. Not heard that one before!

    It's akin to the quote about making sure your players legs go on another managers pitch.
  • Any pensions experts on here?

    I've deferred my state pension by a year but looking at the figures it's not the best thing to do. I did it to avoid paying a higher rate of tax.

    I'm considering taking the pension but having the amount of the pension each month paid from my salary as an avc to my work pension. That way I can increase the lump sum and take 25% as a lump sum tax free when I retire. I will also get the 20% Government top up and tax relief on the rest when I complete my tax return. 

    That is my understanding but I may be missing something. Thoughts?

    NB I probably can't use my main personal pension fund as it's offshore as a QROPS.
    As your payment to works pension would be an AVC rather than just an increase in contribution, I assume your pension is some kind of final salary scheme.

    This what I did I payed in a significant AVC pot. I then took all this as my 25% tax free cash. It massively reduced the amount of pension I commuted to get my cash maximum.
  • I'm probably using the wrong terminology regarding the contributions. 

    Golfie, you're right, I'm in the first year after retirement age and want to get his sorted early into the next tax year. Not sure when I will actually retire; I had 18 years in Thailand so I'm not bored with the day job yet!

    I'll speak to the company pensions people and see what they suggest.
  • PB, got a £100 so happy with that, some great advise and insights on this thread/discussion, not viewed for a while but will read more regularly 
  • edited March 17
    Pension question please. 
    My wife is on a zero hour contract and gets no work pension. Her earnings each yr are small. I have some spare cash I could use to top up her pension a little.
    Last 4 yrs she has always earned less than £10Kpa. So..
    1. Does she still get carry forwards tax relief, so in theory I could go back 3yrs?
    2. Can I pay in more than she earned this year gross due to carry forwards?
    3. Am I right she still gets tax relief up to 100% of her take home in any given year given her low wages?
    Hope that makes sense..
  • Pension question please. 
    My wife is on a zero hour contract and gets no work pension. Her earnings each yr are small. I have some spare cash I could use to top up her pension a little.
    Last 4 yrs she has always earned less than £10Kpa. So..
    1. Does she still get carry forwards tax relief, so in theory I could go back 3yrs?
    2. Can I pay in more than she earned this year gross due to carry forwards?
    3. Am I right she still gets tax relief up to 100% of her take home in any given year given her low wages?
    Hope that makes sense..
    Did she have a pension in the prior years, from memory you can only carry forward if you were in a pension. If so you can carry forward any unused allowance up to her current salary. So if she's only earning £10k this tax year that's the most that can go into pension.
  • To echo @Rob7Lee and to add a bit more.

    She can do carry forward if she has had an "active" pension over the 3 years she is "carrying back". This does not necessarily mean she had had to been paying into it but she must have had one opened.

    However, your wife can only pay in the maximum of her earnings for this tax year, even though in reality she has scope to pay in far more. 

    The Annual Allowance is now £60k. If she happened to have earnt £100k this year then she could  put in £60k for this year & £40k for the previous year(s). Sadly though, if she has only earnt £10k this year then that is the maximum she can pay in. 
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  • Ah, thanks.  She has a private pension with Vanguard which was opened in 2021 so I think that means timeline wise she is fine but sadly she has not earned much this year so will be caught by 100% of this year's salary which is what I thought reading everything but hoped was wrong.  Thanks @Rob7Lee and @golfaddick
  • Ah, thanks.  She has a private pension with Vanguard which was opened in 2021 so I think that means timeline wise she is fine but sadly she has not earned much this year so will be caught by 100% of this year's salary which is what I thought reading everything but hoped was wrong.  Thanks @Rob7Lee and @golfaddick
    I have a similar issue with my wife, a low earner, caps at her annual salary.

    Get 80% of her 23/24 salary in before the end of the tax year, then from April just pay in (if you can) monthly 80% of her earnings.

    Otherwise just top up an ISA over and above the pension, at least that'll be tax free out so in effect little difference to pension contributions once she starts drawing the state pension which uses up most of the personal allowance.
  • IdleHans said:
    Got a handful of BP shares that I bought in the COVID dip at just over two quid and think I might offload. Have been buying Ashtead on the dips but they are a way off my target price.
    Annoyed with myself for not buying Nvidia last year at about $300, but FOMO has caused me to pay twice that in the last month just so I've got some.
    Still got zynex shares which seem to be slowly clawing their way back. One to put away and forget.
    On the topic of Ashtead, which I regard as a solid, stable company, their price seems to over react to anything less than very positive news. They told the market on March 5th that full year revenue growth would be towards the bottom end of the previously forecast range of 11-13% and full year results broadly in line with expectations. Hardly disastrous, but the shares dropped from £57.28 to £50.28 in four days. Ridiculous in my opinion! So I scooped up some more for £50.78. They're already back to £55.00, thanks very much, Market. I've been playing this game for a bit and have a price target of £60. It seems like very easy money, in my fool's paradise.

  • edited March 20
    A friend of mine is with SJP (yes yes, we and he know now), but the point here is that he asked them to advise on partial/full encashment figures for his International bond on the 2nd March and is yet to receive the figures. He received an apology for the slow response, merely asking for his current salary.

    I would dread to think about the SLA when he comes to ask for the actual withdrawal and account closure! What would you do/advise in this situation? 
  • mendonca said:
    A friend of mine is with SJP (yes yes, we and he know now), but the point here is that he asked them to advise on partial/full encashment figures for his International bond on the 2nd March and is yet to receive the figures. He received an apology for the slow response, merely asking for his current salary.

    I would dread to think about the SLA when he comes to ask for the actual withdrawal and account closure! What would you do/advise in this situation? 
    Who did he ask  ??  His advisor or a dept within SJP ?  Any decent adviser worth his salt could get the figures by close of play. 
  • mendonca said:
    A friend of mine is with SJP (yes yes, we and he know now), but the point here is that he asked them to advise on partial/full encashment figures for his International bond on the 2nd March and is yet to receive the figures. He received an apology for the slow response, merely asking for his current salary.

    I would dread to think about the SLA when he comes to ask for the actual withdrawal and account closure! What would you do/advise in this situation? 
    Who did he ask  ??  His advisor or a dept within SJP ?  Any decent adviser worth his salt could get the figures by close of play. 
    He asked his advisor. Usually quite sharpish in his replies, but seems to have gone missing since he's hinted at closing the account soon. 
  • mendonca said:
    mendonca said:
    A friend of mine is with SJP (yes yes, we and he know now), but the point here is that he asked them to advise on partial/full encashment figures for his International bond on the 2nd March and is yet to receive the figures. He received an apology for the slow response, merely asking for his current salary.

    I would dread to think about the SLA when he comes to ask for the actual withdrawal and account closure! What would you do/advise in this situation? 
    Who did he ask  ??  His advisor or a dept within SJP ?  Any decent adviser worth his salt could get the figures by close of play. 
    He asked his advisor. Usually quite sharpish in his replies, but seems to have gone missing since he's hinted at closing the account soon. 
    Well, to answer your original question, the first start is to make a formal complaint to SJP, not his adviser. That might put a rocket up their arses, and by result, one up his. He can also ask that any ongoing fees are stopped with immediate effect. (there is currently an ad on the radio by an ambulance chasing solicitor asking for people to come forward who are being charged an ongoing fee from SJP but not receiving a service from them).
  • mendonca said:
    mendonca said:
    A friend of mine is with SJP (yes yes, we and he know now), but the point here is that he asked them to advise on partial/full encashment figures for his International bond on the 2nd March and is yet to receive the figures. He received an apology for the slow response, merely asking for his current salary.

    I would dread to think about the SLA when he comes to ask for the actual withdrawal and account closure! What would you do/advise in this situation? 
    Who did he ask  ??  His advisor or a dept within SJP ?  Any decent adviser worth his salt could get the figures by close of play. 
    He asked his advisor. Usually quite sharpish in his replies, but seems to have gone missing since he's hinted at closing the account soon. 
    Well, to answer your original question, the first start is to make a formal complaint to SJP, not his adviser. That might put a rocket up their arses, and by result, one up his. He can also ask that any ongoing fees are stopped with immediate effect. (there is currently an ad on the radio by an ambulance chasing solicitor asking for people to come forward who are being charged an ongoing fee from SJP but not receiving a service from them).
    This is standard SJP playbook, as detailed ad nauseum in the Sunday Times over the years.  They'll drag everything out as long as they can.  
  • We have had some interesting perspectives on SJP. Anyone got any thoughts/opinions on Fisher Investments ?
  • holyjo said:
    We have had some interesting perspectives on SJP. Anyone got any thoughts/opinions on Fisher Investments ?
    I asked the same on this thread around a year ago.  

    I found them to be very hard sell, little substance when questioned on specifics.  Seemed high fees for what you get. 
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