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Savings and Investments thread

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  • Overall good things come out today about the uk. Growth higher than expected, one of the fastest growing economies in the g7, happy days. Long may it continue. 
    GDP growth should be a lot higher in Q3. A heatwave summer should mean a lot more spent on UK holidays, bbqs & associated food along with copious amounts of ice cream 🍦. 

  • Overall good things come out today about the uk. Growth higher than expected, one of the fastest growing economies in the g7, happy days. Long may it continue. 
    GDP growth should be a lot higher in Q3. A heatwave summer should mean a lot more spent on UK holidays, bbqs & associated food along with copious amounts of ice cream 🍦. 

    And oasis gigs 
  • I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day.
    This could be terribly inconvenient at times and is just more random people trying to control lives. 
    Is it legal? Age discrimination? 
  • redman said:
    I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day.
    This could be terribly inconvenient at times and is just more random people trying to control lives. 
    Is it legal? Age discrimination? 
    What ? Is this a wind up?
  • edited August 14
    redman said:
    I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day.
    This could be terribly inconvenient at times and is just more random people trying to control lives. 
    Is it legal? Age discrimination? 

    That would be illegal - not sure where you read that but it aint happening.
    Yes there will be some elderly customers who perhaps do not have the ability to manage their finances effectively but restrictions happen now with Lasting Powers of Attorney taking financial decisions.
    Across the board? No absolutely not.
  • edited August 14
    Can't have the oldies handing out cash to their younger relatives as a way of getting around the rumoured IHT changes.
  • OK, well hope it's fake news. Unfortunately I can't find the link I saw it on. 
  • This morning‘s FT headline story:

    Tax data allays fears of UK non-dom exodus


    You did read the article? It’s inline with predictions, ie 25% of non dons with trusts have left, and that’s only based on payroll data (so doesn’t capture those not working/drawing a salary/pension). The effect won’t be really known until Jan 2027…….
  • bobmunro said:
    redman said:
    I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day.
    This could be terribly inconvenient at times and is just more random people trying to control lives. 
    Is it legal? Age discrimination? 

    That would be illegal - not sure where you read that but it aint happening.
    Yes there will be some elderly customers who perhaps do not have the ability to manage their finances effectively but restrictions happen now with Lasting Powers of Attorney taking financial decisions.
    Across the board? No absolutely not.
    https://empofish.com/banks-blocking-cash/#

    but I don’t believe it either. 
  • Rob7Lee said:
    bobmunro said:
    redman said:
    I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day.
    This could be terribly inconvenient at times and is just more random people trying to control lives. 
    Is it legal? Age discrimination? 

    That would be illegal - not sure where you read that but it aint happening.
    Yes there will be some elderly customers who perhaps do not have the ability to manage their finances effectively but restrictions happen now with Lasting Powers of Attorney taking financial decisions.
    Across the board? No absolutely not.
    https://empofish.com/banks-blocking-cash/#

    but I don’t believe it either. 
    I don't think it is/will happen nor should it. But with the elderly people in mine and my wife's family it would be useful. They think they are being clever but are just opening themselves up to being taken advantage of/scammed and even putting them in danger.
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  • edited August 14
    Rob7Lee said:
    bobmunro said:
    redman said:
    I have just read that banks are soon going to be limiting cash withdrawals for over 65's to £300 a day.
    This could be terribly inconvenient at times and is just more random people trying to control lives. 
    Is it legal? Age discrimination? 

    That would be illegal - not sure where you read that but it aint happening.
    Yes there will be some elderly customers who perhaps do not have the ability to manage their finances effectively but restrictions happen now with Lasting Powers of Attorney taking financial decisions.
    Across the board? No absolutely not.
    https://empofish.com/banks-blocking-cash/#

    but I don’t believe it either. 
    If you read the article it says that banks are limiting the amount of cash that ANYONE can take out. It then goes on to say how this might affect older people as they generally like to deal on cash rather than pay online.

    There is no age restriction AT ALL  !!!
  • Bit late with this as I've just got back from holiday. 
    While on holiday I had a notification that I'd won on the premium bonds. 
    I couldn't check how much as I didn't have my pb  number with me.
    Turns out I've won £700. My best ever win.
    1 x £500
    2 × £100
    This is on a holding of £22.
    Came at a good time as I'd spent more than I wanted on holiday. 
    That's some return for £22 and three wins too. You couldn't get a pint and a burger at the Oval for that. 
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