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Savings and Investments thread
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@stevexreeve I can fully emphasise with everything you say here. Firstly I wish you well with your health and your treatment. I would only have a few comments to make. Firstly have you actually discussed it with him? Putting some in long term pensions or other investments by him would at least give him options in life. Perhaps which he can't even forsee atm. There's always a lot of good charities who can do boost with an element of the cash.1
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Really sorry to hear your news @stevexreeve. I hope that you’re as comfortable as you can be and that they find a way to a treatment that helps you again.Simple, but great, advice on doing what gives you pleasure with the wealth you’ve built over your life. If it makes you happy, that’s more than so many people are able to achieve. Don’t mistake looking after your son though. He’s chosen a great profession and you’re rightly proud of him and his work ethic. It doesn’t sound like that would change if you were to make sure any bumps in the road could be smoothed over for him.Most importantly though, keep looking after yourself. And enjoy every day as much as you possibly can.2
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Been announced this afternoon that Alan Greenspan has died, aged 100.
Spent over 20 years as Chairman of the US Fed and oversaw the crash after the dotcom bubble. Probably the founder of quantative easing.0 -
@stevexreeve
Thank you for sharing your story. I was particularly shocked because I perceive you as being a member of the glass-half-full younger cohort open to newer ways to invest. It gives us all a wider perspective to reflect on, what is all this for? Like all of us I wish you the very best and hope to read your posts for a good long time yet (and @redman, whom I know is also battling serious health issues)2 -
Thanks for your good wishes!cantersaddick said:
Sorry to hear that you are now relapsing and wish you all the best.stevexreeve said:
My perspective on this might be interesting.AndyG said:
I know you are saying that in jest mate but for many it is reality. My MOM is in exactly this situation she is 82 and after a lifetime of being frugal even though she had no need she has a significant sum tied up in cash, property, pensions etc etc we try to get her to spend but it is so alien to her she just can’t do it. Add this to the fact that she won’t do anything about inheritance provisions as she says she has 20 years yet lol it is a problemSolidgone said:Interesting posts on the various investments and ways to make profit. And the other posts about spending your money so that the tax man doesn’t get its mitts on it after you expire. Spending is not as easy as it sounds especially if you have a reasonable income, small outgoings and investments (hopefully) climbing against an upbringing of being careful with your money. Although you might have enough money to buy that Lamborghini or Rolls and fly first class etc there’s something in the back of the mind that says it’s too extravagant and it’s wasting money.1-2-3 snap of the fingers and I’m back on the beach on the Côte d’Azur 😎🥂🤓
I have built up bit of wealth over the years and tried to manage it sensibly but it all seems a little pointless now.
3 years ago I was diagnosed with TP53 leukaemia with a life expectancy of 4 months. A trial drug called EP42 amazingly put me into complete remission! My doctors hoped that might last as long as six months. I'm still here but now finally relapsing after two years of normality.
I could have spent those years going on exotic cruises or lounging in the sun but actually chose to keep doing more or less what I was doing before!
I kept going into work. Walking across London Bridge into the city on a sunny morning is an incredible experience. You just have to look up to appreciate it!
Travelling to Charlton - negotiating the chaos on platform 1 at London Bridge - complaining about the price of a pie or the queues under the West stand. That's what makes life worthwhile! I don't want a limousine to the ground or a fucking silver service lunch with the directors before the game!
I know I "should" pass some money to my son but he has already inherited a house from his grandmother and made a life for himself as a teacher. I can see how he loves the kids he teaches and the pride in his eyes at what he has achieved. Casually giving him another half million might destroy all this. I know he'd just hide the money away in some sort of "pension" anyway! He wants to "earn" his next car or house.
Older people who refuse to spend money aren't necessarily being stingy and don't "need to change their DNA". They just want to be happy and do what they've always enjoyed doing.
I suspect many people on this thread enjoy saving and making money "grow" and will find it incredibly difficult to suddenly start spending frivolously! My advice would be to just keep doing what you enjoy and stop pretending there is some sort of nirvana (or heaven?) waiting for you towards the end of your life or indeed any point to it all in the first place!
Sorry if that's quite heavy but its good for me to unload. Thank you.
Completely agree with what you say. And expecially taking a moment to look up and enjoy where you are and what you see daily.
I would say - I hope you manage to find time for the odd treat for you and your loved ones. Those moments are really important. My Dad had lymphoma and the odd weekend away together with my siblings and their kids means so much to all of us.
On your son again agree with your approach but would challenge to say - could you put something aside for him in some kind of product that can ensure he can continue doing the job he loves without having to worry about if something goes wrong in the future. Friends of mine who are teachers do worry about what they will do if the car breaks down or whether they can afford to have kids (some have left the profession in order to earm more and feel they have the buffer to have kids). You don't want him to be in that position so something for him that could even be put aside for the next generation if he doesnt need it but gives him a safety net to not have to worry.
My son and I have discussed all this often! He is fully aware that his life differs from most of his colleagues in that he can always come to us for money if he needs (or even just wants) it! Neither of us (nor my wife) can decide what to do!
It reminds me of "Common People". A rich girl is hoping to live a normal life but can't because she knows one phone call can make all the problems go away! (Politicians take note when talking about the cost of ling!)
I have a FIL living in a large empty house in Leigh on Sea. For fifteen years, we've tried to get him to move to a residential home and sort his finances out. He just tells us all to piss off. So my wife will soon come into a "life changing" sum of money at the age of seventy and my son will eventually get this when he is around fifty because god knows how my wife will be able to spend it!.
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I wish you all the very best with your health.stevexreeve said:
Thanks for your good wishes!cantersaddick said:
Sorry to hear that you are now relapsing and wish you all the best.stevexreeve said:
My perspective on this might be interesting.AndyG said:
I know you are saying that in jest mate but for many it is reality. My MOM is in exactly this situation she is 82 and after a lifetime of being frugal even though she had no need she has a significant sum tied up in cash, property, pensions etc etc we try to get her to spend but it is so alien to her she just can’t do it. Add this to the fact that she won’t do anything about inheritance provisions as she says she has 20 years yet lol it is a problemSolidgone said:Interesting posts on the various investments and ways to make profit. And the other posts about spending your money so that the tax man doesn’t get its mitts on it after you expire. Spending is not as easy as it sounds especially if you have a reasonable income, small outgoings and investments (hopefully) climbing against an upbringing of being careful with your money. Although you might have enough money to buy that Lamborghini or Rolls and fly first class etc there’s something in the back of the mind that says it’s too extravagant and it’s wasting money.1-2-3 snap of the fingers and I’m back on the beach on the Côte d’Azur 😎🥂🤓
I have built up bit of wealth over the years and tried to manage it sensibly but it all seems a little pointless now.
3 years ago I was diagnosed with TP53 leukaemia with a life expectancy of 4 months. A trial drug called EP42 amazingly put me into complete remission! My doctors hoped that might last as long as six months. I'm still here but now finally relapsing after two years of normality.
I could have spent those years going on exotic cruises or lounging in the sun but actually chose to keep doing more or less what I was doing before!
I kept going into work. Walking across London Bridge into the city on a sunny morning is an incredible experience. You just have to look up to appreciate it!
Travelling to Charlton - negotiating the chaos on platform 1 at London Bridge - complaining about the price of a pie or the queues under the West stand. That's what makes life worthwhile! I don't want a limousine to the ground or a fucking silver service lunch with the directors before the game!
I know I "should" pass some money to my son but he has already inherited a house from his grandmother and made a life for himself as a teacher. I can see how he loves the kids he teaches and the pride in his eyes at what he has achieved. Casually giving him another half million might destroy all this. I know he'd just hide the money away in some sort of "pension" anyway! He wants to "earn" his next car or house.
Older people who refuse to spend money aren't necessarily being stingy and don't "need to change their DNA". They just want to be happy and do what they've always enjoyed doing.
I suspect many people on this thread enjoy saving and making money "grow" and will find it incredibly difficult to suddenly start spending frivolously! My advice would be to just keep doing what you enjoy and stop pretending there is some sort of nirvana (or heaven?) waiting for you towards the end of your life or indeed any point to it all in the first place!
Sorry if that's quite heavy but its good for me to unload. Thank you.
Completely agree with what you say. And expecially taking a moment to look up and enjoy where you are and what you see daily.
I would say - I hope you manage to find time for the odd treat for you and your loved ones. Those moments are really important. My Dad had lymphoma and the odd weekend away together with my siblings and their kids means so much to all of us.
On your son again agree with your approach but would challenge to say - could you put something aside for him in some kind of product that can ensure he can continue doing the job he loves without having to worry about if something goes wrong in the future. Friends of mine who are teachers do worry about what they will do if the car breaks down or whether they can afford to have kids (some have left the profession in order to earm more and feel they have the buffer to have kids). You don't want him to be in that position so something for him that could even be put aside for the next generation if he doesnt need it but gives him a safety net to not have to worry.
My son and I have discussed all this often! He is fully aware that his life differs from most of his colleagues in that he can always come to us for money if he needs (or even just wants) it! Neither of us (nor my wife) can decide what to do!
It reminds me of "Common People". A rich girl is hoping to live a normal life but can't because she knows one phone call can make all the problems go away! (Politicians take note when talking about the cost of ling!)
I have a FIL living in a large empty house in Leigh on Sea. For fifteen years, we've tried to get him to move to a residential home and sort his finances out. He just tells us all to piss off. So my wife will soon come into a "life changing" sum of money at the age of seventy and my son will eventually get this when he is around fifty because god knows how my wife will be able to spend it!.
on your FIL, when that sad day comes, you should look at a deed of variation in regards to his will/estate. As long as all beneficiaries agree you could for instance amend the will to pass to your son rather than your wife.1 -
I really like this post, @stevexreeveI used to have to go to Shell Centre quite often to deal with the predatory bastards there, and always chose to walk from Covent Garden rather than train it, just so I could enjoy the views and appreciate being in a beautiful city on a sunny day. It's something all too easily taken for granted, as are many other things until you focus on them.I don't think spending money generally brings much happiness that isn't transitory - I drive a crappy (but reliable) car and I'd like the aircon to work, but I'd rather spend the money on a couple more weekends away with Mrs or mates - that's where the joy in life really is.Your son sounds as if he has his head screwed on - good for him and you too.3
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A week to go until the end of the comp. FTSE100 has been treading water this week around the 10400-10450 level.
Question is, will the Orange Man say or do anything this week that will upset the apple cart ?
Or will Andy Burnham indicating that Ed Miliband will be his Chancellor send the Bond Market (and therefore the Stockmarket) into a spin.1 -
I assume he will go public with his ‘plans’ to some degree within the next week so I’m sure some movement (who knows which way) in this window.golfaddick said:A week to go until the end of the comp. FTSE100 has been treading water this week around the 10400-10450 level.
Question is, will the Orange Man say or do anything this week that will upset the apple cart ?
Or will Andy Burnham indicating that Ed Miliband will be his Chancellor send the Bond Market (and therefore the Stockmarket) into a spin.Added to the possibility of Iran either stabilising or reverting I’d imagine today’s position will not be the same at month end.0 -
Honestly I think the press obsession with market movements in this country is both obsessive and unhelpful. People who don't understand the economics of it making comment on something incredibly technical to an audience of millions is ridiculous.valleynick66 said:
I assume he will go public with his ‘plans’ to some degree within the next week so I’m sure some movement (who knows which way) in this window.golfaddick said:A week to go until the end of the comp. FTSE100 has been treading water this week around the 10400-10450 level.
Question is, will the Orange Man say or do anything this week that will upset the apple cart ?
Or will Andy Burnham indicating that Ed Miliband will be his Chancellor send the Bond Market (and therefore the Stockmarket) into a spin.Added to the possibility of Iran either stabilising or reverting I’d imagine today’s position will not be the same at month end.
Did you see a couple of weeks ago when Burnham sorta half mentioned that he might review the fiscal rules the press jumped on a tiny market movement that was 1) well within daily margin for errors and 2) nothing to do with Burnham. It was the same day as the UK long term inflation forecast was adjusted upwards due to latest Iran war developments. Hardly a headline grabbing bit of news. But important for the markets. The movement was simply the markets pricing in lower long term returns due to higher inflation.
Result was Burnham committing to Reeves restrictive rules that are holding back investment.
It was the same when Starmer resigned. Headlines like "markets still trying to gauge what Burnhamism could mean" when bond markets again moved within daily margin for error and any movement was likely markets pricing in uncertainty. And then whole loads of analysis on exchange rate movements which were nothing to do with Starmer resigning and everything to do with the dollar movement. The euro moved in the same way.
This obsession is unhealthy. And doesn't help the political conversation. Also invalidates a lot of the conversation at times when the markets do actually matter. Over analysis of tiny movements prevents this.
Markets should provide some constraints to work within. The end goal shouldn't be to satisfy the markets.4 -
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Well yes it is unhelpful. And you are right people not in the know try and link events when not always right to do so.The advent of 24 hour rolling news let alone social media just adds to this I suppose.But it’s not just the press of course. Our politicians (of all stripes) choose to engage with the press and send people out to do the rounds every day with all the channels when they don’t really have much of a story. And when they do they get criticised by the speaker of the house for disclosing things to the press first.It’s a slippery slope / downward spiral we are now in. No idea if the same in every other country albeit obviously similar to the US.As markets now encourage / allow ‘shorting’ stock far more than historically it’s harder for this cycle to be broken. No easy fix.0
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I'm definitely looking forward to the final of the index predictor because I think I'm in with a shout for the first time in a while. I can't remember exactly what I predicted, but I do remember that it's quite tightly bunched around the current figure. Most of all, I remember that @Covered End and I are within a point of each other. 😉1
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I have 10660. Market creeping up all week & finished yesterday at 10530. Thought another 3 days of gradual increases might get it close to my prediction.PragueAddick said:I'm definitely looking forward to the final of the index predictor because I think I'm in with a shout for the first time in a while. I can't remember exactly what I predicted, but I do remember that it's quite tightly bunched around the current figure. Most of all, I remember that @Covered End and I are within a point of each other. 😉
Then the Iranians attack a boat in the Straits, which closes it & the market falls almost 1% giving up all the gains made this week.
Grrrrr.0 -
Mate, there’s at least one more cycle of the Orange Bell declaring once again that its all over and for the Iranians to respond “you reckon?”, before the close of trade next Wednesday. At least…golfaddick said:
I have 10660. Market creeping up all week & finished yesterday at 10530. Thought another 3 days of gradual increases might get it close to my prediction.PragueAddick said:I'm definitely looking forward to the final of the index predictor because I think I'm in with a shout for the first time in a while. I can't remember exactly what I predicted, but I do remember that it's quite tightly bunched around the current figure. Most of all, I remember that @Covered End and I are within a point of each other. 😉
Then the Iranians attack a boat in the Straits, which closes it & the market falls almost 1% giving up all the gains made this week.
Grrrrr.
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Couple of trading days to go......
FTSE100 Level 10,508.02 Name Level Variance % Variance HardyAddick 10,500 8.02 0.08% thecat 10,520 11.98 0.11% PragueAddick 10,488 20.02 0.19% Covered End 10,487 21.02 0.20% guinnessaddick 10,485 23.02 0.22% Housty 10,542 33.98 0.32% CharltonKerry 10,560 51.98 0.49% LargeAddick 10,412 96.02 0.91% RalphMilne 10,410 98.02 0.93% WHAddick 10,401 107.02 1.02% blackpool72 10,620 111.98 1.07% Jon_CAFC_ 10,378 130.02 1.24% fat man on a moped 10,376 132.02 1.26% golfaddick 10,660 151.98 1.45% Hornchurch 10,666 157.98 1.50% TheGhostofTomHovi 10,342 166.02 1.58% @TelMc32 10,700 191.98 1.83% Thread Killer 10,715 206.98 1.97% StrikerFirmani 10,265 243.02 2.31% Solidgone 10,801 292.98 2.79% valleynick66 10,213 295.02 2.81% CAFCWest 10,101 407.02 3.87% Carter 10,998 489.98 4.66% cafcpolo 11,008 499.98 4.76% Addickinedi 9,999 509.02 4.84% Friend or Defoe 11,050 541.98 5.16% Jamescafc 9,950 558.02 5.31% Addick Addict 9,944 564.02 5.37% Rob7Lee 9,920 588.02 5.60% IdleHans 11,111 602.98 5.74% Huskaris 11,120 611.98 5.82% Redman 9,800 708.02 6.74% wwaddick 11,227 718.98 6.84% Diebythesword 11,250 741.98 7.06% Fortune 82nd Minute 9,715 793.02 7.55% Pedro45 9,549 959.02 9.13% bobmunro 9,214 1294.02 12.31% Lenglover 8,301 2207.02 21.00% Er_Be_Ab_Pl_Wo_Wo_Ch 7,500 3008.02 28.63% 1 -
Oh right, 3 of us separated by three points.1
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Today is the day, lest see where we end, but at close yesterday it is very very close.1
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I’m not troubling the scorers this time.Surprised that despite all the various shenanigans of war, politics etc the general trend seems to be up rather than down0
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I don't think it's a surprise at all. Its the split economy (have posted in detail on this previously). War and crisis is good for large corporations, stock market goes up. Therefore is no longer a reliable indicator of economic performance of an economy.LenGlover said:I’m not troubling the scorers this time.Surprised that despite all the various shenanigans of war, politics etc the general trend seems to be up rather than down1 -
Despite lots of ‘news’ around war, oil price etc, companies continue to in the main post earnings higher than expectations. Think something like 80% of the S&P500 posted 1st quarter above expectations, 2nd quarters will be interesting.0
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Symptomatic of how social media is these days is there’s a lot of doomer posting but actually companies are making more and more money, which is good, actually.Rob7Lee said:Despite lots of ‘news’ around war, oil price etc, companies continue to in the main post earnings higher than expectations. Think something like 80% of the S&P500 posted 1st quarter above expectations, 2nd quarters will be interesting.0 -
Market making a late surge today. At 12 noon it was up 1.15% and just broke through 10600.
Just 60 points (and 0.5%) off my prediction.
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Currently 10,606
My prediction 10 ,6200 -
Pah!
😉0 -
Any chance of stopping the competition now😄 10562 at present my prediction 10560,0
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Don't worry @PragueAddick, the market's coming back down again. Got to 10612 before retreating to 10562.PragueAddick said:Pah!
😉
Starting to edge up again though. Might depend on how the US markets start this afternoon.0 -
Apology, a bit of a late one at work today. Results of the first half year, well done everyone, congrats to @HardyAddick almost spot on! 5 people within 25 points. I'll message again on her in a week or so for the 31st Dec predictions, meanwhile Premium Bonds on Thursday!!
FTSE100 Level 10,497.12 Name Level Variance % Variance HardyAddick 10,500 2.88 0.03% PragueAddick 10,488 9.12 0.09% Covered End 10,487 10.12 0.10% guinnessaddick 10,485 12.12 0.12% thecat 10,520 22.88 0.22% Housty 10,542 44.88 0.43% CharltonKerry 10,560 62.88 0.60% LargeAddick 10,412 85.12 0.81% RalphMilne 10,410 87.12 0.83% WHAddick 10,401 96.12 0.92% Jon_CAFC_ 10,378 119.12 1.13% fat man on a moped 10,376 121.12 1.15% blackpool72 10,620 122.88 1.17% TheGhostofTomHovi 10,342 155.12 1.48% golfaddick 10,660 162.88 1.55% Hornchurch 10,666 168.88 1.61% @TelMc32 10,700 202.88 1.93% Thread Killer 10,715 217.88 2.08% StrikerFirmani 10,265 232.12 2.21% valleynick66 10,213 284.12 2.71% Solidgone 10,801 303.88 2.89% CAFCWest 10,101 396.12 3.77% Addickinedi 9,999 498.12 4.75% Carter 10,998 500.88 4.77% cafcpolo 11,008 510.88 4.87% Jamescafc 9,950 547.12 5.21% Friend or Defoe 11,050 552.88 5.27% Addick Addict 9,944 553.12 5.27% Rob7Lee 9,920 577.12 5.50% IdleHans 11,111 613.88 5.85% Huskaris 11,120 622.88 5.93% Redman 9,800 697.12 6.64% wwaddick 11,227 729.88 6.95% Diebythesword 11,250 752.88 7.17% Fortune 82nd Minute 9,715 782.12 7.45% Pedro45 9,549 948.12 9.03% bobmunro 9,214 1283.12 12.22% Lenglover 8,301 2196.12 20.92% Er_Be_Ab_Pl_Wo_Wo_Ch 7,500 2997.12 28.55% 3 -
At lunchtime the Index was at 12620 and I was just 40 points away.
Grrrr.1 -
Beaten again, bad luck Golfz.golfaddick said:At lunchtime the Index was at 12620 and I was just 40 points away.
Grrrr.0 -
eeerrrr...... don; t think it was 12620!!golfaddick said:At lunchtime the Index was at 12620 and I was just 40 points away.
Grrrr.0
