Reply to: Pension 25% Cash Free Lump Sum .... Last chance saloon?

[WTFH]

What are your thoughts on the American markets WTFH if you don't mind me asking?

My US investments have been doing very well over the last few years, I fear that the isolationist regime of the dictator may make it less beneficial to foreigners. I'm awaiting advice from my US accountant on what they suspect the IRS will do, at which point I may be pulling out.

[mogga71]

But how can your folio have gone up, you were saying the sky was going to fall in. Is it possible that teh places you seek advice from are (or at least were) very heavily blinded to independent financial advice in favour of political and their own benefit?

LOL ... Presumably you mean elsewhere (in other posts) I thought the sky was going to fall in? I still do think the sky is going to fall in ...... over a half of my portfiolio is actually in cash....obviously to my detriment since Trump got back in... as the markets have gone bat sheet crazy since (even more than normal). The reason my portfolio is up so much is purely down to holding Shopify since 2016 and its jumped 45% in the last month alone. These markets are absolutely insane ... just look at Palantir and Bitcoin. We are just kicking the can down the road .... as soon as I see any form of 2022 'flight to value' event occurs again I will be out of Shopify too.

What are your thoughts on the American markets WTFH if you don't mind me asking?

[WTFH]

Just as well as my portfolio has actually gone up £80K since initial request.

But how can your folio have gone up, you were saying the sky was going to fall in. Is it possible that teh places you seek advice from are (or at least were) very heavily blinded to independent financial advice in favour of political and their own benefit?

[mogga71]

After reading countless articles about the Pension 25% Lump Sum being greatly reduced as part of the October Budget I must admit I have bottled it and applied for mine (via drawdown). The last straw was seeing that 2 Think Tanks are recommending that it be reduced to 100K Max. It's one of those things that once reduced will likely take ages to get restored to 25% (with max £250 ish K.) ... even when Labour get booted out of office at the next election.

Previously I had not been too worried as I was of the opinion that even if Labour did reduce it they would give advance notice .... but I am no longer so sure and didn't think it was worth the risk.

I am already anticipating a hike in Employer NI ... which of course is a disaster for us (the vast majority) caught outside .... so didn't want to be in a near suicidal state post Halloween.

Anybody else do the same?

An update on this .... Hargreaves Lansdown took so long processing my request due to unprecedented demand of other people doing exactly the same thing that I was able to cancel by request. Just as well as my portfolio has actually gone up £80K since initial request. Am hoping for it to carry on now so I can eventually get full £250K ish out at some point. I count myself very lucky. Not often sheer incompetence goes in your favour.

[WTFH]

Hahahaha! See what I mean. Like absolute clockwork! There is no point engaging with them as they never address even a single point of anything you say, like you said Cookielove just one liners and pointless drivel. I hope they are just an AI as imagine wasting your life like this!

All I did was quote your words, and you are melting.

[WTFH]

Eh?? All Labour have done is to blame all ills on the Tories…

Funny that, that’s exactly what the Tory press did from 2009 onwards.

[sadkingbilly]

Hahahaha! See what I mean. Like absolute clockwork! There is no point engaging with them as they never address even a single point of anything you say, like you said Cookielove just one liners and pointless drivel. I hope they are just an AI as imagine wasting your life like this!

Spot on escapeUK . I was waiting for that timed to perfection …no point in engaging.

Either an AI or agitators lol

oh good! - a wingeing whiners group hug!
does that feel better diddums???

[Cookielove]

Spot on escapeUK . I was waiting for that timed to perfection …no point in engaging.

Either an AI or agitators lol

[escapeUK]

Yes, weird that if we want public services we have to pay for them.

Or do you believe “someone else has to pay for them, not me”?

Hahahaha! See what I mean. Like absolute clockwork! There is no point engaging with them as they never address even a single point of anything you say, like you said Cookielove just one liners and pointless drivel. I hope they are just an AI as imagine wasting your life like this!

[WTFH]

Bingo! There's some very strange posters on here who post weird… beliefs.
Like… if we want public services we have to pay for them.

Yes, weird that if we want public services we have to pay for them.

Or do you believe “someone else has to pay for them, not me”?

[escapeUK]

Why are you actually on here…all your posts are inane one liners…time and again you post drivel.

You sure live up to your name …sad!

Bingo! There's some very strange posters on here who post weird anticontractor beliefs. Like we should pay lots of tax. Or if we want public services we have to pay for them. Its all very tiresome as most of what they post is drivel and they are prolific too.

As a real contractor, often I have lots of stuff to get done for which I charge lots of money - thats contracting. But not these guys, all day spent on a forum talking about contracting but no actual work done.

If you said to me they are really some sort of HMRC / gov disinformation unit trying to dissuade people from being contractors that would make a lot of sense and be quite believable.

[Cookielove]

How else is a government going to plug the >£30bn that Truss created? https://www.ft.com/content/736a695d-...7-fb92ed2a3dca
Or are we just supposed to turn into a debt-laden economy for the next generations to solve? It didn’t work in the 80s, and we’ve got a government now who are further right of Thatcher, even if the far right try to tell you they are communists.

Eh?? All Labour have done is to blame all ills on the Tories…there is no black hole hang over from the Truss days it’s simply a lie they peddle.

This shower are the worst ever seen …bar none…they want to punish anyone who works hard and try to save a bit /invest in shares etc anyone trying to better themselves will be clobbered.

Those who do nothing… take no responsibility and rely on the state they are cushty ! That’s who Labour are pro…

Also as an aside looking ahead if polls are to be believed Trump is in the lead …and that is a key relationship for the U.K.! What have labour done our foreign secretary has called Trump all manner of names! Not wise I’d say as you never know how that election will go over there best to keep your powder dry… but hey we’ve got numpties in government none are credible ! Hare brained schemes they want paying for by taxing us to the hilt!

[Protagoras]

Latest rumour - 2% rise in ER, ER threshold reduction, no NI on ER pension - could be mitigated by increasing salary sacrifice to pension (subject to minimum wage constraint) for anyone who wants to fix their tax bill.

I suppose the question may arise of whether this could fall foul of pension contribution 're-cycling' rules.

But really, for contractors and brolly workers this latest rumour set would be much less damaging than ER NI on pension contributions. It may even help the 'market' and clients could be less keen to hire 'permanent' workers.

[Cookielove]

i know, - it's a crying shame, so it is!

Why are you actually on here…all your posts are inane one liners…time and again you post drivel.

You sure live up to your name …sad!

[malvolio]

How else is a government going to plug the >£30bn that Truss created? https://www.ft.com/content/736a695d-...7-fb92ed2a3dca
Or are we just supposed to turn into a debt-laden economy for the next generations to solve? It didn’t work in the 80s, and we’ve got a government now who are further right of Thatcher, even if the far right try to tell you they are communists.

Truss was three years ago. The debt she created has ben cleared and the economy was back on track several months ago. But if you are going to believe Labour's claims that a mystery black hole has emerged that's nothing to do with their ridiculous spending plans for both public sector pay, Millipede's ridiculous green plans (which aren't, but hey), and assorted but unspecified infrastructure plans, then I might come and live in your world. It sounds nice.

WE really have to wait until after the budget to see which of he various, mostly contradictory "leaks" of what is going to happen actually happen, then we can have a debate oabout what the implact will be.

One thing is for sure; to date, absolutely f*** all of what Starmer's amateur rabble have announced has had any credibility