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  1. #151
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    Quote Originally Posted by Brian Fantana View Post
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    Six figures in savings . A similar amount in shares. A buy-to-let property (not mortgage free).
    £100k + in savings which are paying tiny interest no doubt and similar in shares(which have probably been hammered last few months). Why have mortgage on your buy to let ?

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    • #152
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      House is still eating everything - bought a just barely habitable (intact roof, water/sewage and electricity) probate sale a few years ago and I'm getting towards the end of the heavy expenditure. Windows, insulation, water tanks, heating replacement done and a new front door paid for not installed yet; rewiring is last of those. So depending on whether I've just paid for something or just about to it'll be anywhere from close to 0 to a few grand

      However I've no short term loans, no HP contracts, no credit card balance and the mortgage is at about 27% LTV now. Pension pot has a reasonable amount for a 31 year old but really not enough. About a grand in premium bond equivalents and a few grand in Irish Continental Group (Irish Ferries) shares. When the house stops costing thousands every few months I intend to throw the equivalent in to savings and investments 50/50
    • #153
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      Quote Originally Posted by Diablo View Post
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      £100k + in savings which are paying tiny interest no doubt and similar in shares(which have probably been hammered last few months). Why have mortgage on your buy to let ?
      A couple of reasons:

      1: I’m tied in for 3 more years on my mortgage, which has some fairly high early repayment charges.

      2: A fair chunk of the savings have been earmarked for school fees, which will be needed fairly shortly.
    • #154
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      Had a £100 per month monthly savings scheme which could be used to buy some shares few years ago from work - needed to save for 5 years though. Made the worst investment decision of my life after three years and cashed in (my 3600 made like £200 interest). Bloke next to me at work did the same thing but completed the scheme. By the time he came to buy his shares his £6000 (for full 5 yrs) plus £1000 bonus for completing the scheme enabled him to buy the shares at the original price when the scheme started (about £11 each) and then sold them immediately at the market value which was like £80 each at the time - so he netted like 55k so for the sake of saving another 2 years it cost me 52k in lost earnings

      Ergo if your firm offers a profit sharing scheme - INVEST! NB most proper schemes are backed by banks or building societies so at worse you would het your money back if the firm goes bust..
      Last edited by giveusfalmerplease; 05-11-2018 at 22:39.
      Hughton for Manager of the Season..no make that DECADE
    • #155
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      Quote Originally Posted by giveusfalmerplease View Post
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      Had a £100 per month monthly savings scheme which could be used to buy some shares few years ago from work - needed to save for 5 years though. Made the worst investment decision of my life after three years and cashed in (my 3600 made like £200 interest). Bloke next to me at work did the same thing but completed the scheme. By the time he came to buy his shares his £6000 (for full 5 yrs) plus £1000 bonus for completing the scheme enabled him to buy the shares at the original price when the scheme started (about £11 each) and then sold them immediately at the market value which was like £80 each at the time - so he netted like 55k so for the sake of saving another 2 years it cost me 52k in lost earnings

      Ergo if your firm offers a profit sharing scheme - INVEST! NB most proper schemes are backed by banks or building societies so at worse you would het your money back if the firm goes bust..
      Why did you cash in when there was a guaranteed £1000 if you carried on for another 2 years?
      never forget what Stanley, Archer and Bellotti did
    • #156
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      Don't care about savings or pensions as I live for the day as we could die anytime....why save for the unknown?
      UP THE ALBION!!!!!
    • #157
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      Quote Originally Posted by sir albion View Post
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      Don't care about savings or pensions as I live for the day as we could die anytime....why save for the unknown?
      https://www.thedailymash.co.uk/news/...20181102178951
    • #158
      Now The Party's Over Beach Hut's Avatar
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      Quote Originally Posted by sir albion View Post
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      Don't care about savings or pensions as I live for the day as we could die anytime....why save for the unknown?
      Good point and don't forget to maliciously kick a person when unconscious
      I surrender all control
      To the desire that consumes me whole
      Leads me by the hand to infinity
      Lies in wait at the heart of me - the Albion of course !
    • #159
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      Quote Originally Posted by sir albion View Post
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      Don't care about savings or pensions as I live for the day as we could die anytime....why save for the unknown?
      So the state doesn’t have to keep you if you live beyond when you can work perhaps??
      never forget what Stanley, Archer and Bellotti did
    • #160
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      Quote Originally Posted by giveusfalmerplease View Post
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      Had a £100 per month monthly savings scheme which could be used to buy some shares few years ago from work - needed to save for 5 years though. Made the worst investment decision of my life after three years and cashed in (my 3600 made like £200 interest). Bloke next to me at work did the same thing but completed the scheme. By the time he came to buy his shares his £6000 (for full 5 yrs) plus £1000 bonus for completing the scheme enabled him to buy the shares at the original price when the scheme started (about £11 each) and then sold them immediately at the market value which was like £80 each at the time - so he netted like 55k so for the sake of saving another 2 years it cost me 52k in lost earnings

      Ergo if your firm offers a profit sharing scheme - INVEST! NB most proper schemes are backed by banks or building societies so at worse you would het your money back if the firm goes bust..
      Good advice. The same goes for short termists who opt out of employers pension schemes. Madness when you’re net of tax small contributions are generally part of a far larger investment for your future and low-cost these days.

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