What should you do to protect any savings from the ravages of 13% deterioration or whatever inflation is running at?
Gold, equities (shares), property,stable currencies $, euro, Swiss franc, reals?
Roubles
Diamonds 
Don’t think there’s any evidence that the pound is losing value at that rate v CHF or Euro etc.
Shares can drop by more than inflation.The only way to realise/liquidate any gains is by selling which makes share values drop.
Investment in property requires a lot of capital.
Realistically cutting consumption ( spending ) by more than inflation is the default choice with the win win of also saving the VAT on purchases.The result being recession and lower VAT revenues.
Buying shares is good.
Just buy those that are going up, not those going down. Simple.
Whats this post got to do with trucking ? Think you have the wrong site oh boy!
Optimum:
What should you do to protect any savings from the ravages of 13% deterioration or whatever inflation is running at?
Gold, equities (shares), property,stable currencies $, euro, Swiss franc, reals?
Invest in an index fund in a Stocks and Shares ISA wrapper. If you don’t need the money before age 57 when you can start to draw down a pension then pay it into a pension, because it’s paid out of taxed pay HMRC will re-imburse the income tax you paid to the pension provider giving the contribution an immediate 25% uplift as a basic rate tax payer so £80 paid into a pension out of take home pay puts £100 in in total with HMRCs top up.
Franglais:
Buying shares is good.Just buy those that are going up, not those going down. Simple.
You’d not go into a shop to buy something you want and say “no thanks, not this week I’d rather wait for the price to go up” would you? So why the same with shares? As long as the underlying company is sound there’s no reason not to.
By units of index funds rather than individual shares. And buy them on the way down, not that it matters because timing the market never works.
When everything ■■■■ itself in March 2020 I banged in all the money I could lay my hands on and by the end of the year was up 25%. And the timing was perfect to do this what with the massive wage rises we got because of Brexit coupled with working mental hours because of Covid and then not being able to spend the extra money because everywhere was shut.
Buy a lorry and put it to work?
Conor:
Optimum:
What should you do to protect any savings from the ravages of 13% deterioration or whatever inflation is running at?
Gold, equities (shares), property,stable currencies $, euro, Swiss franc, reals?Invest in an index fund in a Stocks and Shares ISA wrapper. If you don’t need the money before age 57 when you can start to draw down a pension then pay it into a pension, because it’s paid out of taxed pay HMRC will re-imburse the income tax you paid to the pension provider giving the contribution an immediate 25% uplift as a basic rate tax payer so £80 paid into a pension out of take home pay puts £100 in in total with HMRCs top up.
Good advice from Conor, have a look on inter web at what is available.
You need ask yourself how much do I want to invest and how long can I put the money away for.
Different funds have different aims. Some might offer quicker/higher returns but carry more risk of losing capital. Some funds you can drip feed others need a lump sum to start.
Some of the bigger providers have an online risk assessment questionnaire which will give you a rough idea of how risk averse you are and which type of funds may suit you. Take note of T&C’s and make sure the provider comes under the Goverment Investor Protection schemes.
Keeping in an ISA wrapper will avert any Capital gains worries.
Also as mentioned forget the bull shine about timing the market, the professionals often get that wrong. It is TIME IN THE MARKET that matters.
Tyneside
ezydriver:
Buy a lorry and put it to work?
Your better off spending the money on whiskey and whores.
Then at least you’ll have a big grin on your face afterwards
Conor:
Optimum:
What should you do to protect any savings from the ravages of 13% deterioration or whatever inflation is running at?
Gold, equities (shares), property,stable currencies $, euro, Swiss franc, reals?Invest in an index fund in a Stocks and Shares ISA wrapper. If you don’t need the money before age 57 when you can start to draw down a pension then pay it into a pension, because it’s paid out of taxed pay HMRC will re-imburse the income tax you paid to the pension provider giving the contribution an immediate 25% uplift as a basic rate tax payer so £80 paid into a pension out of take home pay puts £100 in in total with HMRCs top up.
.
Then the government will tax the pension pot + the growth when you draw it bearing in mind state pension uses up all your tax allowance.
Also the pension pot can go down or even be wiped out by a stock market crash.
There’s a reason for the difference in interest rates on investments which guarantee the capital invested.Any interest rate that’s even close to inflation definitely won’t and contains the warning you may get back less than you put in.
Optimum:
What should you do to protect any savings from the ravages of 13% deterioration or whatever inflation is running at?
Gold, equities (shares), property, stable currencies $, euro, Swiss franc, reals?
I’m retired and live very well from previous financial investments.
There are no guarantees you have to be patient, what goes down will always rebound.
Gold has steadily risen over the years and will continue to do so, but you have to buy bullion not stock certificates.
Real Estate has also fluctuated over the years and again looking back the value of a brick has increased, Remembering that the material that makes Bricks is a commodity there is a thought that commodities should be the thing ? However it is a gamble as are all Stock Investments, in fact trading stocks is a legal way to gamble ! But don’t get me wrong providing you choose wisely and don’t panic when fluctuations hit the markets you will generally be ok and come out on top. I would also advise, you do a lot of reading and save until you are competent to invest, And when that time comes open an account where you trade rather than paying a broker !!
You have to be self disciplined and refrain from peeing your savings against the wall.
If you haven’t already, you also need to start saving for retirement, age comes quickly and preparedness is a must.
Its cheaper to carry and make your own meal rather than use a truck stop, and again what you save you can invest
Good Luck.
miketdt:
Whats this post got to do with trucking ? Think you have the wrong site oh boy!
I used to drive trucks. I would deliver to companies and noticed that some appeared good and well managed while others left me wondering how they survived. Drivers should be in a good position to spot winners.
Optimum:
miketdt:
Whats this post got to do with trucking ? Think you have the wrong site oh boy!I used to drive trucks. I would deliver to companies and noticed that some appeared good and well managed while others left me wondering how they survived. Drivers should be in a good position to spot winners.
Utter nonsense. My company couldn’t organise a ■■■■ up in a brewery, but seems to be romping up the stock market just fine.
Carryfast:
Then the government will tax the pension pot + the growth when you draw it bearing in mind state pension uses up all your tax allowance.
.
No it doesn’t. State pension is currently £9600pa, Personal Allowance for income tax is £12500.
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Roymondo:
Carryfast:
Then the government will tax the pension pot + the growth when you draw it bearing in mind state pension uses up all your tax allowance.
.No it doesn’t. State pension is currently £9600pa, Personal Allowance for income tax is £12500.
Basic pension + SERPS is close enough.
The rest stands.You only get tax relief on the contributions but then you get hit with more tax when you cash in the pot including tax on the growth.That tax liability is increasing.
With the lose lose that you are exposed to all the risk of a stock market downturn creating a net loss to the pot and pensions are based on the pension provider betting that you won’t live long enough to collect all the pot.
Which is why the government is increasing the pension age, private and state, based on the lie that we’re all living longer/too long, to tip the scam even more in favour of the bankers.
Conor:
Franglais:
Buying shares is good.Just buy those that are going up, not those going down. Simple.
You’d not go into a shop to buy something you want and say “no thanks, not this week I’d rather wait for the price to go up” would you? So why the same with shares? As long as the underlying company is sound there’s no reason not to.
By units of index funds rather than individual shares. And buy them on the way down, not that it matters because timing the market never works.
When everything [zb] itself in March 2020 I banged in all the money I could lay my hands on and by the end of the year was up 25%. And the timing was perfect to do this what with the massive wage rises we got because of Brexit coupled with working mental hours because of Covid and then not being able to spend the extra money because everywhere was shut.
Didn’t realise I worked with the best truck driver / Warren Buffett.
Carryfast:
Roymondo:
Carryfast:
Then the government will tax the pension pot + the growth when you draw it bearing in mind state pension uses up all your tax allowance.
.No it doesn’t. State pension is currently £9600pa, Personal Allowance for income tax is £12500.
Basic pension + SERPS is close enough.
The rest stands.You only get tax relief on the contributions but then you get hit with more tax when you cash in the pot including tax on the growth.That tax liability is increasing.
With the lose lose that you are exposed to all the risk of a stock market downturn creating a net loss to the pot and pensions are based on the pension provider betting that you won’t live long enough to collect all the pot.
Which is why the government is increasing the pension age, private and state, based on the lie that we’re all living longer/too long, to tip the scam even more in favour of the bankers.
Unless you reached State Pension age before 2016 you won’t get SERPS.
Sent from my VOG-L09 using Tapatalk
Roymondo:
Carryfast:
Roymondo:
Carryfast:
Then the government will tax the pension pot + the growth when you draw it bearing in mind state pension uses up all your tax allowance.
.No it doesn’t. State pension is currently £9600pa, Personal Allowance for income tax is £12500.
Basic pension + SERPS is close enough.
The rest stands.You only get tax relief on the contributions but then you get hit with more tax when you cash in the pot including tax on the growth.That tax liability is increasing.
With the lose lose that you are exposed to all the risk of a stock market downturn creating a net loss to the pot and pensions are based on the pension provider betting that you won’t live long enough to collect all the pot.
Which is why the government is increasing the pension age, private and state, based on the lie that we’re all living longer/too long, to tip the scam even more in favour of the bankers.Unless you reached State Pension age before 2016 you won’t get SERPS.
Sent from my VOG-L09 using Tapatalk
Strange how my state pension forecast includes an earnings related component added to the basic pension.Which in my case has to be claimed from my private provider having been contracted out.Its around £15 pw.
The fact is any considerable pension added to the state pension will generally have serious tax implications.