At this moment, I am contemplating SELL EVERYTHING. At 73 and retired, we don't have the time horizon to take a beating now.
We exchanged contracts on black Wednesday (1992), we were petrified with the change in interest rates that day 15% but settled back to 10% by end of day (so missus says). First house (32k) hard up as hell and very scared!
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At this moment, I am contemplating SELL EVERYTHING. At 73 and retired, we don't have the time horizon to take a beating now.
What bit? The house market?
Source.
https://www.theatlantic.com/business...prices/241504/
Someone who lies about the little things will lie about the big things too.
I fully agree. I am not selfish. With older teenagers living in SW London area, they are destined to rent there whole life if they want to stay in the area. Maybe a 1 or 2 bed flat purchase outside the M25 if they are lucky with BOMAD.
Unfortunately if they do correct it’s usually still the youngsters with eye watering amount of mortgage gearing that take most of the pain.
While I am rolling on the floor laughing about the Technoking's BTC tweet, it has also hit my Coinbase position. Tomorrow is earnings, but unfortunately only after hours. I hope we get there without further losses.
Someone who lies about the little things will lie about the big things too.
Someone who lies about the little things will lie about the big things too.
Someone who lies about the little things will lie about the big things too.
Glad I waited on Doooge, thought Musk might light up the sky on SNL, instead he waits 3 days and comes over all Greta ish
Buying the dip to the moon!
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View on Doge
https://youtu.be/grGauqJyiSA
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I remember how we felt lucky to get 'only' 6.79 per cent Fix on our first mortgage, I'd watched people getting clobbered with 12 per cent plus about a decade before hand, learnt/ appreciated that living or dying by interest rate would be no fun. Historical average is 6 to 7 percent.
Sure the low rates of today feel like free money, but the prudent and responsible/ risk or gambling adverse savers have been robbed of real/safe returns on savings, no chance of using steady gains from the miracle of compounding...overall it stinks what they've...Govt's/ Central Banks, have done to 'money' but we are where we are...Hence crypto hustles and Rolex futures.
Last edited by Passenger; 13th May 2021 at 09:43. Reason: misrecalled mortgage rate
nowadays
Someone who lies about the little things will lie about the big things too.
Yet we have high, thanks to Rishi... runaway house price inflation nowadays, coupled with zero return on cash. I would rather have money still being worth something...it is after all fundamentally an expression, store and measure of our 'excess' life/work... and the housing market semi controlled via a return to summat like normal interest rate policy rather than keep debauching the currency with all it's marvellous bubbly knock ons'... but diff'rent strokes.
I dunno IF lifes easier nowadays, it seems more folks have considerably less security nowadays in all the ways that matter.
Last edited by Passenger; 13th May 2021 at 10:18.
Another 2% gone off the ftse
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Life was very complicated back in the 1970s when inflation hit 26.8% and a lot of pensioners had fixed rate incomes. I think most of us have it bloody easy now-a-days in comparison to as it what back then.
House prices were cheaper relative to income but the high mortgage rates made house ownership damn difficult.
nowadays
Someone who lies about the little things will lie about the big things too.
I was a little kid in the 70's so my memory is a bit blurred, had things other than inflation on my mind... didn't the IMF step in and bail out Blighty mid 70's, a year or two after the UK joined the EU, thus with a little help from our friends things then improved.
Tbh Mick respectfully how would you know what/ how someone today in their late teens or early 20's starting out, is going to find life...insecurity of job/ income like never before, automation, offshoring and AI coming for the middle classes wholesale just as with the working classes, house prices and education costs/ debts only going one way. They can't even use interest/ compounding to build a nest egg IF they've got any spare money too save...nowadays it's easy to see why there's so many get rich quick hustles, much feels speculative and impermanent....Great if you own the assets, employ cheap labour not so great if you're selling the labour.
Please can someone tell me when I can check my pension again cheers
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On another note, does anyone remotely believe Musk *suddenly* discovered bitcoin mining uses energy?
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Can’t be many of them with that as top of priority list. More about having enough coin to go out of a weekend and get sloshed in best designer clobber.
Despite the bleak picture you paint I still think there is plenty opportunity out there for people willing to work hard and grasp opportunities.
Too many waste years doing daft degrees that lead to nothing.
The Ghost says it as it is:
https://thefinanceghost.com/of-false...false-profits/
Someone who lies about the little things will lie about the big things too.
I have most of my savings sitting in a 0.7% cash ISA, - I have no experience or time to continually research investments, - would like to lock it away for a good 5 - 10 years, so I was thinking of moving it all into a Vanguard Lifestrategy
https://www.vanguardinvestor.co.uk/w...ategy-products
I'd prefer something moderate to aggressive, - but given that means more money in equities, - do you think this is a risky idea at this present time?
If you are going to be a passive investor (using LS would be) and can stomach a crash then it is a good choice. UK-biased but not stupidly so. Were you tempted to sell in the crash of 2020? The less risk averse you are, the more that LS20, say, would suit you then LS80 or LS100
Is now a good time to buy? That's an active investor question - timing the market. If you think the market will trend up over time, invest and forget.
At a guess, you will be less risk averse during a crash than you think you will be, if you haven't invested before.
- - - Updated - - -
Exactly what I was wondering and I look forward to reading the Ghost article this evening.
If going 100% equities I would avoid VLS entirely.
My approach has changed from buying dips to selling rallies.
As such, I just sold S&P @ 4,116, full position.
Someone who lies about the little things will lie about the big things too.
No - never invested before, however I have watched my pension go up and down over the years and always recover. I do feel ready to wait it out and fancy something which is going to work harder for me, - which is why i'm tempted by the 80% VLS one, however if there is a good chance of a crash soon, what with so much money being pumped into the economy... - i'm open to suggestions. I was looking at "evestor" also, which is also beginner friendly and low fees.
With so much uncertainty in the world at the moment - I don't know what to do, - is there much of a chance that the stock market could crash and not recover for a VERY long time (10 years)? Or is a crash more likely to be 1 - 2 years?
No one knows ... that’s the trouble.
My take is diversified assets and invest regularly to smooth out the peaks and troughs.
My attempts at trying to call the market timing wise have been one good call two bad ... so I’m not trying again ... mix of property, trackers, investment trusts and funds well spread ... and some gold and silver.