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Money to invest...

Discussion in 'Personal' started by Marshall, Dec 7, 2019.

  1. sbkrobson

    sbkrobson Star commenter

    It wasn't aimed at OP, I'm sorry, you appear not to have read my post correctly
     
  2. Morninglover

    Morninglover Lead commenter


    If you say so, but I'd say it's difficult to read it any other way.

    By the way when you said:

    "It's not an unusual concept-we see it in the workplace too-you don't discuss your salary, for example, precisely in order to avoid negative sentiment around inequalities.

    And so for people who have no savings or prospects of accruing such, no, they don't want to see how much other people have."

    I just have to disagree.

    When I started teaching it was quite commonplace to have a list of all staff on a staffroom noticeboard with their position (in those days you started on 1, then went up to 2 as something like a '2nd in Dept, a 3 or 4 as a HoD etc) given; nearby would be the Union noticeboards with pay scales. So everyone knew pretty much what everyone else earned. And that seemed to both work well and be quite healthy. If you don't know these things, rumours will simply spread. And people WILL talk about salaries, whatever you say.

    Plus, of course, this is a forum primarily for teachers and others who work in schools. And teachers all benefit from one of the better pensions, which used to have a generous lump sum for all (not all now, I know), which DOES need to be invested. So this thread may well be quite useful for some approaching retirement.
     
    catmother and ajrowing like this.
  3. sbkrobson

    sbkrobson Star commenter

    Yes, I see that.
     
  4. mothorchid

    mothorchid Star commenter

    Goodness @LondonCanary I had no idea how much there was. Although evidently I over-estimated the amount of interest somewhat, but even so!
    Why am I not one of those rich people who have the maximum £20 000 to invest each year? I have clearly gone wrong somewhere.:(
     
  5. peakster

    peakster Star commenter

    How many of us have that kind of money to invest ?
     
    mothorchid and BertieBassett2 like this.
  6. BertieBassett2

    BertieBassett2 Star commenter

    Quite a few on these forums, it would seem!
     
  7. peakster

    peakster Star commenter

    We did have one very lucky break some years ago.

    We invested some money (not a huge amount) when the interest rates were sky high in the late 1990s and then didn't touch it again for a number of years.

    It grew into quite a big pot of money.
     
  8. davidmu

    davidmu Occasional commenter

    Some comments here are silly. When I started teaching in 1963 my salary was just over £800pa and it slowly increased by 11 increments to the then maximum. Not exactly flush with funds! I bought a small house and took out an Endowment mortgage for 25 years simply paying off the interest each year. The endowment guaranteed the £3000 mortgage if I died. This endowment cost £9 a month. I have never cashed in that endowment completely as after the 25 years it paid off the mortgage with over £10000 to spare. This excess after 56 years is worth substantially more but it shows what can happen if you consider the long term. I had no idea at the outset how it would develop. People have a right to know what can happen even if like me they have little money initially.
     
  9. Marshall

    Marshall Star commenter

    I didn't intend this to be controversial - merely a request for advice!
     
  10. Marshall

    Marshall Star commenter

    Re my last post - one persons 'lots' of money if different from others.
     
    mothorchid likes this.
  11. lindenlea

    lindenlea Star commenter

    [​IMG]
     
    Marshall likes this.
  12. catmother

    catmother Star commenter

    You know TES,a simple post about cakes could attract controversy!
     
    Marshall, mothorchid and smoothnewt like this.
  13. jubilee

    jubilee Star commenter

     
  14. mothorchid

    mothorchid Star commenter

    Thanks @jubilee, but, in fact, I find I already have a better interest rate on my bank's savings account and I am nowhere near getting £1000 in interest, so the tax free thing doesn't affect me.
    It was more of a general lament, really.
     
  15. LondonCanary

    LondonCanary Star commenter

    Cakes. Generally loaded with sugar and contribute to the obesity crises.
     
  16. lizziescat

    lizziescat Star commenter

    Tax avoidance involves bending the rules of the tax system to gain a tax advantage that Parliament never intended.
    It’s the govts definition. That’s pretty official.

    https://www.gov.uk/guidance/tax-avoidance-an-introduction

    The challenges are around the ‘bending of the rules’ and ‘parliaments intention’
     
  17. lizziescat

    lizziescat Star commenter

    Whose definition is this?
     
  18. LondonCanary

    LondonCanary Star commenter

    What do you call the use of legal methods to modify an individual's financial situation to lower the amount of income tax owed. Tax avoidance?
     
  19. smoothnewt

    smoothnewt Star commenter

    Anyone remember this character? "I am considerably richer than yow."



    I have an acquaintance who is a cockney version: self-made but talks about his financial worth all the time. A friend who has been on cruises with this person told me that he constantly embarrassed his wife by telling all and sundry on the ship "I am a millionaire, you know." I last saw him at a funeral where no sooner had he sat down than he was telling us about his new penthouse flat, his new-found hobby of collecting antiques. I suppose the bottom line is that he started out at the bottom and has done very well for himself, which is great - but he certainly likes to let people know about it. No modesty there, false or otherwise!
     
  20. blazer

    blazer Star commenter

    Strangely a Brummie!
     
    smoothnewt likes this.

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