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[hoover]

Is George Osborne the right man to correct the finances of the UK considering he never under took any economic studies at University. He left with a 2:1 in Modern History and probably studied the actions of the last Conservative Government that sold this country down the EU river.
Its easy to say the man on the street wouldn't know to start how to run the country but the solution is easy for me to understand. We hold a referendum on EU membership and give people a real insight of how much money we give them each year and what we gain back from it. You deport hundreds of thousands of unemployable migrants, You shake up the benefit system and make people accountable who refuse to work. You stop foreign aid, we invest in clean energy and stop importing fossil fuels from eastern Europe. You invest in areas where industries can thrive again and make British products the best in the world instead of importing cheap crap from Asia.
We use money gained from corporation tax to invest in companies who make ground breaking products and services and invest more in science and pharmaceutical companies in research into non curing diseases. I haven't even scratched the surface on what we should be doing its plain to see that in 2 years the condems have achieved little.

Maybe we can swap the 988 billion debt for some magic beans too, and the last stat I could find on illegals is that there are just shy of 1 million asylum seekers and illegals in this country, we cant simply deport them and they cost the country 100s of millions in legal fees....why can't we deport them....you know the answer already, but I will say it anyway, Humans rights lawyers, cheers labour

[Red]

I'm a Financial Planner mate, so feel free to ask any questions you may have.

The opt out you refer to is opting out of the State Second Pension (the bit above your basic state pension) and paying a reduced rate of National Insurance contributions.  However, it's been abolished from 6th April 2012 so no point worrying about that.

Lot of crap being talked on this thread about pensions, mainly from Tito, so here's a quick summary of pensions:

1) You pay into a pension and receive an immediate 20% return due to tax relief
2) If you are a higher or additional rate taxpayer, you can claim a further 20% / 30% on your tax return
3) Like an ISA, growth within your pension is tax free (no income or Capital Gains Tax)
4) The value of your pension fund at retirement depends upon how much you have put in followed by investment returns
5) You can access your pension at any age after 55 - you don't have to wait until you have stopped working
6) At retirement, you get 25% of your pension as a tax free lump sum
7) You 'buy' an income with the remaining 75% - this can come in a few forms (annuity or drawdown)

To put all your money in Property is massively risky and although it should form a part of your retirement planning, you shouldn't solely rely on it.  Spread your investments around and make sure you're not too exposed to one sector (e.g Property, UK Shares) or country.

Thanks for the heads up.

I buy £250 premium bonds a month at minute, got about £6k's worth. Whilst the jackpot is long odds, the small £25 prizes here and there are better than a crappy savings account's interest. 10 years time I will have the £30k max allowance which I will pay a lump off the house with.

Or might just play 1 game of roulette and put the whole lot on red or black.

[glenn_user]

the Rouley is great idea, but just put a tenner on red or black, if you lose, put 20 quid, lose again 40 quid. etc etc.

then once you win, back down to a tenner.

rinse and repeat. if youve got a spare 10 grand mind, doubling up to win each time you lose soon adds up.   

[Red]

the Rouley is great idea, but just put a tenner on red or black, if you lose, put 20 quid, lose again 40 quid. etc etc.

then once you win, back down to a tenner.

rinse and repeat. if youve got a spare 10 grand mind, doubling up to win each time you lose soon adds up.   

Yes I've seen that talked about but it can get you in deep shit fast 

It's simply a fact of life, that many people like myself will perhaps need inheritance and a lot of saving-up to simply pay of a moderate home and have a moderate penison.

Whereas every other bastid gets a free house, and free spending money from the government for NOT working their entire life. And those that try their hardest to actually find a job are not helped in any way to get one.

[Tito]

Maybe we can swap the 988 billion debt for some magic beans too, and the last stat I could find on illegals is that there are just shy of 1 million asylum seekers and illegals in this country, we cant simply deport them and they cost the country 100s of millions in legal fees....why can't we deport them....you know the answer already, but I will say it anyway, Humans rights lawyers, cheers labour

The UK governments have been in debt since the end WW2 the recessions of the 1980's and then the stock market crash and recession of 1990 had a knock on effect up until Labour got the unemployment figures down when they come into Government in 1997. If we had a referendum on the EU and voted to leave we are not tied with EU law which means we could actually deport people who are not here on the promise to work hard and contribute to our society. The Canadians and Australians don't have problems deporting people who don't work nor are unemployable so why can't we if we are not tied up in EU red tape. I agree Labour is at fault with all these crazy EU legislations that leave the benefit and immigration cases open for abuse but it takes a good political party with OUR own intrests to stand up and say enough is enough.

[glenn_user]

Yes I've seen that talked about but it can get you in deep shit fast 

It's simply a fact of life, that many people like myself will perhaps need inheritance and a lot of saving-up to simply pay of a moderate home and have a moderate penison.

Whereas every other bastid gets a free house, and free spending money from the government for NOT working their entire life. And those that try their hardest to actually find a job are not helped in any way to get one.

15 to 20 on the spin against, and you'd be F***ed. and it does happen. i think its a nice metaphor for the whole financial system we live within.

unemployment rates are far higher than acknowledged, and there isnt alot about, no money going into anything interesting. Think of the stuff people could be doing, research etc.

At a time when there is more money than ever before, people are still being screwed over. The people who profit from this system genuinely believe in it, any form of social co-operative is not in their agenda. we're F***ed

[Red]

Your correct Glenn,

The lower class and the middle/upper classes are screwing the system royally.

Whilst the normal guy in the middle (us lot) gets rumped.

You get no favours for playing life with a straight bat.

[7777]

Put you money into property mate.

Not even bothering with a pension. Its going into property.

That's what I have done

[Gavin]

Putting my money into bonds I think, pensions sound wank from talking to my parents! Gonna get looking into it now!

[Alba]

Putting my money into bonds I think, pensions sound wank from talking to my parents! Gonna get looking into it now!

thing is premium bonds are ok ,but i dont think there index linked (well the website dosent say it is) so while the value may not go down ,inflation will mean its buying power wont be as much

[Heathen]

Putting my money into bonds I think, pensions sound wank from talking to my parents! Gonna get looking into it now!

What did they say to turn you off pensions mate?

A pension is just a tax-efficient wrapper that you put around your investments.  Think of it like a footy team - the pension is the football club, but it's the players (investments) that determine the success.

My pension has made 84% over the last three years so don't write them without fully understanding what benefits they have.  Problem is that a lot of people have been burnt by sh!t advice from financial salesmen

[dmp]

proprety rental is the best pension option for me its a headache but well worth all the stress of it,you make off the rental,rent for 5 years minimum,sell when the time is right,youll make money as long as you carefull.bollux to pensions
mind you my fathers mining pension is good still pays my mother a good income 12 years after he died.

[Aaron]

Anyone knows of a really effective way of investing money that will not lose me cash feel free to pm me, think am better taking out a ten k loan blowing it on a good time and calling it a day after reading this.

[Bolton Dave]

For me, i'm hoping my pension will be enough to give me a 'reasonable' income during my old age but won't be a fortune even if I do put £250 a month in.

In order to supplement this, I should be able to put maximum annual contributions into an ISA, have a business to sell when I get to the age I fancy retiring and should be mortgage free in 7 or 8 years time so save them payments too.

I would invest in property but i'm clueless at doing minor repairs etc so would only consider doing this in partnership with someone who is fairly handy at DIY.

One thing for sure, I ain't leaving it up to the tossers in power to look after me in old age - every single politician is a tosser of the highest order