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[MSE Lawrence]

This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Read Martin's 'I’m looking forward to watching... Savers in trouble: ITV1 Tonight' Blog.

Click reply to discuss below.

[20000RPM]

You know, it's pretty interesting finding out how programmes are put together behind the scenes. Unfortunately, I suspect that childcare duties will preclude me from watching the programme.

[lustydog]

Looking forward to the programme tonight as this is one area you haven't yet sorted out for me. I've instigated all the measures that you have suggested that I am comfortable with , and owe you a debt of thanks.
One area I would like to discuss in the future is the high cost of buying and installing
products which create hot water and electricity. Many of these are well outside the purchasing power of us ordinary people, especially during the current financial crisis.
Would it not be possible with all the manpower about to become available to set up
an industry to utilize the manpower, the vacant factory premises, and to train people
in a new and exciting industry to produce affordable Green products that we can all afford. Some of the money currently being splashed about in the direction of the Banks and other financial institutions would be nice.
.We need all the available power we can get to avoid the stranglehold of countries like Russia, who have already proved their capabilities in this area

[JimmyTheWig]

Just hope they don't cut to an ad-break when you're getting to an important bit!

[Errata]

Originally Posted by JimmyTheWig

Just hope they don't cut to an ad-break when you're getting to an important bit!

..........especially if it's an own goal

[SuffolkSilver]

I think they will be in trouble if they invest in gold, houses, spread betting and the stock market. These people just want a bit more money until they pop off, not some investment to leave to their grasping kids !


So what is wrong with suggesting that they take out an Immediate Vesting Personal Pension e.g. Standard life, paying 6 to 11% ? They would invest £2880 each and immediately get back a tax free lump sum of £900. The government would add £720, so for a couple, the investment would be £1980 each and the return for a couple each aged 65 would be around £160 a year. So for £3960 they would get an annual return of £320. I realise that when the 'go' that would be the end of their investment but that is not what is worrying them right now.

In April they would be able to get another, so for less than £8000 they would be getting £620 a year or £12 a week. And your advisers were telling them to consider gold or spread betting on something they don't have a clue about.

Give me strength

[usedup]

Originally Posted by MSE Lawrence

This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Read Martin's 'I’m looking forward to watching... Savers in trouble: ITV1 Tonight' Blog.

Click reply to discuss below.

Watched the programme, brilliant! Where do we go from here?

[Dinah93]

ITV doesn't have an online player to watch this does it? I missed it.

[roddydogs]

Liked the Middle Aged couple who had £300,000 savings and were complaining they were "Hard Up" as they were now getting less interest and couldn't afford this and that.!!

[home_alone]

I was disappointed in the show, I know that a fixed rate account is a good idea and as I am over 65 the 3 options to alternative "saving" do not apply property(what another house that nobody wants to buy), shares (markets in freefall)and bet spreading (gambling), so forget the hype what do people do in a very low interest environment Martin.
I would have thought the best idea would have been to get all savers together to have a go at Brown and Darling, petitions e mail etc.

gary (is it just me)

[SuffolkSilver]

Further to my comments about Immediate Vesting Personal Pensions, these are available for people under 75. While I quoted the income that would be received by a man who starts one at age 65 (£159), a man of 74 would receive as much as £211 a year on an outlay of £1980. This would be the amazing percentage of 11.94% (taxable) for the rest of his life. I think if I was 74 that would be a little more acceptable than investing in gold, property, stocks and shares or ISA's - even though it would eliminate the capital at the end. Unfortunately I missed the boat and will have to put up with my miserable ISAs

[MSE Martin]

Originally Posted by home_alone

I was disappointed in the show, I know that a fixed rate account is a good idea and as I am over 65 the 3 options to alternative "saving" do not apply property(what another house that nobody wants to buy), shares (markets in freefall)and bet spreading (gambling), so forget the hype what do people do in a very low interest environment Martin.
I would have thought the best idea would have been to get all savers together to have a go at Brown and Darling, petitions e mail etc.

gary (is it just me)

Remember a TV show is broad brush - the aim was to give the message that you can be active and look at some of the options. Tonight wanted a focus on investment as well; which as you know isn't my area - and this is ultimately an 8pm friday night programme it needs to have a wide spread and not be overladen with complexity.

The full detail of what to do are here on the site.

As for low interest rate environment - the answer for safety is maximise your interest - using every opportunity. There's still 6% available in regular savers 4% plus in fixed accounts, over 4% variable (if you've over 25k).

Then realise that with inflation plummeting (RPI now at 0.9%) you're now actually better off in real terms and as I explained on teh programme if we're heading to deflation - you could actually spend some capital and still spend your purhcasing power.

It's not easy and it is going to require a mental change - but we have to get there. Even spending some capital if you've 3% interest (after tax) and 1% inflation leaves you better off than when we had 4.5% interest (after tax) and 4.9% inflation - it just doesn't feel it.

I know this sounds harsh but its crucial that people start to think in the light of this changing recession environment. And its crucial politicians start to realise savers are hurting and need to be considered too.

Martin

[home_alone]

Originally Posted by MSE Martin

Remember a TV show is broad brush - the aim was to give the message that you can be active and look at some of the options. Tonight wanted a focus on investment as well; which as you know isn't my area - and this is ultimately an 8pm friday night programme it needs to have a wide spread and not be overladen with complexity.

The full detail of what to do are here on the site.

As for low interest rate environment - the answer for safety is maximise your interest - using every opportunity. There's still 6% available in regular savers 4% plus in fixed accounts, over 4% variable (if you've over 25k).

Then realise that with inflation plummeting (RPI now at 0.9%) you're now actually better off in real terms and as I explained on teh programme if we're heading to deflation - you could actually spend some capital and still spend your purhcasing power.

It's not easy and it is going to require a mental change - but we have to get there. Even spending some capital if you've 3% interest (after tax) and 1% inflation leaves you better off than when we had 4.5% interest (after tax) and 4.9% inflation - it just doesn't feel it.

I know this sounds harsh but its crucial that people start to think in the light of this changing recession environment. And its crucial politicians start to realise savers are hurting and need to be considered too.

Martin

Thank you for your quick response, please understand that I am not having a dig at you but I was looking for answers where there are no answers and the questions keep changing daily. I have my savings, where up until the end of 2009 they will give me a very good return its after that I will have a problem unless the world has reached some sort of normality by then, I think that there are many others in the same boat. There are many others that are in a far more difficult situation than myself, it must be awful to have no job and a young family to support.

gary

[Errata]

Then realise that with inflation plummeting (RPI now at 0.9%) you're now actually better off in real terms and as I explained on teh programme if we're heading to deflation - you could actually spend some capital and still spend your purhcasing power.

I can't understan how the £100k car was thought to be a good example of this, other than it gave a big fat number. How many people can relate to spending that much cash on a car? It felt a bit like Brown's cut in vat - spend £100 quid and you'll only have to fork out £97.50.
The car example added to the savings example of only £300k told me the programme wasn't relavent to my life, or the lives of any of my family or friends.
A great pity Roaring Ros Altman wasn't given a bigger slot.

[rb10]

Originally Posted by Dinah93

ITV doesn't have an online player to watch this does it? I missed it.

Yes, it does: http://www.itv.com/ITVPlayer/Video/d...5&Filter=35336

(If it doesn't play, go to http://www.itv.com/silverlight2/ )

[neilp]

I watched the programme - it was as I expected; useful and informative. However, I was very concerned that it appeared to promote spread betting as an alternative to cash savings. To be frank, this is untrue and borders on being irresponsible. Spread betting at best is a very specialised form of investment, which should not be undertaken by novices, and at worst it is straight gambling.

[MSE Martin]

Originally Posted by neilp

I watched the programme - it was as I expected; useful and informative. However, I was very concerned that it appeared to promote spread betting as an alternative to cash savings. To be frank, this is untrue and borders on being irresponsible. Spread betting at best is a very specialised form of investment, which should not be undertaken by novices, and at worst it is straight gambling.

THanks for the kind words. Its interesting to read your perception of the section on spread betting.

Our aim was to be very clear that investing was about risk - its something I pushed very hard in sripting.

The start of the Lions den and throughout - it was reiterated - even by the spread betting man; who's start was that this was high risk and only at most for a small amount of cash. THe question was asked "isn't this like betting at the 4.30 at newmarket" - sadly my reply to Justin Urqhart Stewart of "isn't share investing exactly the same" - had to be cut for time.

If you get a chance, do have a look again, I hope we were pretty clear.

And ultimately Im not sure spread betting in commodities, currencies or gold is inherintly substantially more risky than putting money in the single shares.

Martin

[oliveoyl]

Originally Posted by Dinah93

ITV doesn't have an online player to watch this does it? I missed it.

Yes, it's available to watch online here