Are You A Angry Saver?

Martinslovechild

Cannon_Fodder wrote: »

How can anyone one individual influence/counter these factors?

By using research. By studying population growth across the world, it's possible to ascertain when large amounts of people will move into their peak earning boom, peak spending boom, peak retirement boom.

Population growth isn't a consistently straight line - it moves in waves, that's why there are terms such as 'baby boomers'. Likewise, stock markets are affected by this, positively in the peak spending years and negatively in the peak retirement years. Housing markets are also affected. As more people move into retirement, fewer second homes are sold and more main homes are sold to trade down to smaller homes or pay for medical care.

Cannon_Fodder wrote: »

All those individuals who did look at their options, went for a prudent, sensible strategy that did not take UNDUE risk with their future, are now being punished for the actions of those who DID take UNDUE risk with their and other people's money.

'Prudent' & 'Sensible' normally result in mediocre returns. That's why people generally take risk.

The problem is that many fund managers apply 'bull-market rules' in 'bear-market times'. How many people have you spoken to recently whom moved their pension fund money into cash funds? Not doing this would have cost them more than 40% over the past year or so, and yet most people are still waiting for a call from their Financial Advisers.

Cannon_Fodder wrote: »

And on the commodities; get real.

Huh?

Like I said, if you don't understand something, go out and learn it - it's not rocket science.

If you want 'easy', then stick with your 3% savings accounts and stop moaning about it on this thread!

Cannon_Fodder wrote: »

You seriously expect ordinary pensioners and low level savers to take their hard-earnt and prudently established funds and throw them like dice at a roulette wheel...any 30% or 100% gain could equally be a 30% or 100% loss in the next 6 months.

With a roulette wheel you have no knowledge of the next ball. That's certainly not the way that markets move. They generally move upwards and have periods of moving downwards, such as the current period. Downturns tend to be far faster & more damaging than upturns which are slower & longer.

As I said earlier, there is plenty of subject matter out there with far more information that I can detail here showing historical trend analysis, future growth projections and lots more besides. Nobody can accurately predict the future but there are lots of numbers to help you.

'hard-earnt' should be spelt 'hard-earned' by the way.

Cannon_Fodder wrote: »

That is EXACTLY why we are where we are now. Too many risks.

You don't have to do anything that you're not comfortable with. If you can't stand the heat, get out of the kitchen. Just don't moan about the temperature.

bendix

I suspect, though, that she wouldnt have got the credit even had she applied, treliac, despite the 'inducement'. The marketing departments are still pumping out the literature, but it's the credit managers who make the call and likely they would have rejected her.

My situation is the reverse. I have only arrived back in the UK two months ago. I earn a six figure salary, own a property outright, have around £330000 built up in savings, absolutely no debt and am currently saving £5500 a month into pensions and other savings, and I can't get a freaking credit card here, despite always paying previous cards off in full.

I get the usual computer spun denials, and of course no human being is reading them to intervene. Utterly idiotic. I'm having to use my overseas credit cards which is not convenient.

Masomnia

bendix wrote: »

I suspect, though, that she wouldnt have got the credit even had she applied, treliac, despite the 'inducement'. The marketing departments are still pumping out the literature, but it's the credit managers who make the call and likely they would have rejected her.

My situation is the reverse. I have only arrived back in the UK two months ago. I earn a six figure salary, own a property outright, have around £330000 built up in savings, absolutely no debt and am currently saving £5500 a month into pensions and other savings, and I can't get a freaking credit card here, despite always paying previous cards off in full.

I get the usual computer spun denials, and of course no human being is reading them to intervene. Utterly idiotic. I'm having to use my overseas credit cards which is not convenient.

I guess the problem then is that you're just not profitable enough for the credit card company. They'll be lending you money and not charging you interest.

Unfortunately you are penalized for being prudent.

Martinslovechild

Masomnia wrote: »

My posts constitute only my opinions and should not be considered financial advice because I have no life life experience whatsoever, am naive and ill-informed.

Masomnia, what's 'life life experience' ?

cocktail

bendix wrote: »

I suspect, though, that she wouldnt have got the credit even had she applied, treliac, despite the 'inducement'. The marketing departments are still pumping out the literature, but it's the credit managers who make the call and likely they would have rejected her.

My situation is the reverse. I have only arrived back in the UK two months ago. I earn a six figure salary, own a property outright, have around £330000 built up in savings, absolutely no debt and am currently saving £5500 a month into pensions and other savings, and I can't get a freaking credit card here, despite always paying previous cards off in full.

I get the usual computer spun denials, and of course no human being is reading them to intervene. Utterly idiotic. I'm having to use my overseas credit cards which is not convenient.

welcome to the UK.
we need more like u here. wow! thats a lot into the pension but for the calibre i suppose its reasonable. by the way did u know what the biggest ponzi scheme is, someone mentioned in another post that it starts with a P
and has a ENSION in it.

Masomnia

Martinslovechild wrote: »

Masomnia, what's 'life life experience' ?

Thanks for pointing that out, I'm surprised I didn't notice!

ess0two

Sir_Humphrey wrote: »

Are these loons for real?

Geoff aint that bad:rotfl:

Kez100

Don't forget that individuals money has been guaranteed (so long as they check where they put it and the total amount) . They may have lost it all if they hadn't been given this free insurance and the Government had let certain institutions fail. Even those that didn't fail would have had runs on them after such a loss in other banks and then those banks would have failed too......and more losses would have occurred.

I am probably equal in terms of what I have lost on business savings versus saved on low mortgage tracker but savers do have to realise the policy has not been done on purpose to rob them but because our government think it is the right thing to do (I have no idea if it is right or wrong)

leveller2911

Masomnia wrote: »

Well you spelt punctuation wrong for a start hehe

If people wanted mortgages and mortgages were scarce, then yes, that would be my opinion.

But it isn't the same thing; not a good analogy. I don't blame savers for being angry, but when you consider that having savings gives you much greater security in life, means you can put money towards a luxury items, means you have a safety net in case the boiler breaks down or something like that, at a time when so many are losing jobs, facing pay cuts etc. then yes, I think savers should count themselves lucky.

I do think your view is so bloody liberal, "savers should count themselves lucky" Oh please. Savers work f**king hard to save, thats the point, theres NO luck involved, its called common sense .!!!!less tw@ts can borrow money to get the boiler fixed or buy a luxury item, I really don,t see your reasoning there.I would point out there must be a lot of savers who are in fear of losing their jobs , I really dont see the reasoning behind your view.

When I save its from hard earned money, I haven,t ripped anyone off, No one has suffered from me saving, there are no dire consequences of me saving, BUT look at the problems we are now facing because of banks being reckless and !!!!less borrowers, because of their actions we (savers) have seen rates plummet, it is partly because of those people we are in trouble...

PS have I spelt consequences right?..no dictionary.....:D

leveller2911

bendix wrote: »

I suspect, though, that she wouldnt have got the credit even had she applied, treliac, despite the 'inducement'. The marketing departments are still pumping out the literature, but it's the credit managers who make the call and likely they would have rejected her.

My situation is the reverse. I have only arrived back in the UK two months ago. I earn a six figure salary, own a property outright, have around £330000 built up in savings, absolutely no debt and am currently saving £5500 a month into pensions and other savings, and I can't get a freaking credit card here, despite always paying previous cards off in full.

I get the usual computer spun denials, and of course no human being is reading them to intervene. Utterly idiotic. I'm having to use my overseas credit cards which is not convenient.

Wow, you have done well, welcome to the UK...........Give it 12 months and you,ll be like the rest of us, nearly skint..:D my advice is get out whilst you can..........if you stay here you,ll get your pocket picked........:rotfl: