Pensioners and savers.

le_loup

For goodness sake, give it a rest.

Angela41

We savers may be paying the price for the spenders but Idiots we are not, Disappointed, Let down, Unsupported, in the minority, yes. Idiots not. I found myself alone at 40 with two babies and took the decision to be a homemaker till my boys start school, relying on the returns of my investments (which meant I am not entitled to benefits like many in my position), however that was in 2007 when interest rates where high, now I'm spending my capital, surviving on less than those who spent spent spent and are still spending and receiving benefits which I as a saver am not entitled too, I have no social life, I spend little on myself and have economised everywhere. BUT I will encourage my boys to follow in my footsteps in the hope that when they are older the lessons will have been learnt and their savings will be secure by example. We are lambs to the slaughter, It hurts, it REALLY HURTS, it stinks, it makes by blood boil but I'd rather they be like me than those that spend spend spend and my reward will be their future in the hope that what little left I can give them will be wisely invested by them, and maybe, they can even throw a little my way too!

Onawingandaprayer

Don't you think you should maybe, erm, get out more? Get some fresh air, have a few long walks, a nice pint in a pub garden somewhere. You'll feel so much better.

Angela41

I'd love too, but with little support financially and physically my hands are tied. Family walks we do, fortunately my memories of a full life before kids will see me through until they are less dependant and I can work again. :beer:

Angela41

Also, I fell foul of MSE information (shouldn't say advise eh) once. Having made full use of ISA's etc, I switched accounts to a then 4% but unfortunately in chasing the extra interest, I didn't take account of the interest payment date and found myself paying tax in FY 4/10 but below the limited in FY 09 & current, when what I should have done was leave leave my money in a lower account for 5 months before switching and I would have been totally tax free for all 3 years, or found an account paying monthly rather than annually.

le_loup

Getting less money to avoid tax is not really a good idea! You only pay tax on the amount of income over your tax free allowance, not on all of it. Better to earn more interest on which you pay tax than less interest on which you don't.

Onawingandaprayer

Onawingandaprayer wrote: »

Don't you think you should maybe, erm, get out more? Get some fresh air, have a few long walks, a nice pint in a pub garden somewhere. You'll feel so much better.

Sorry Angela41. That wasn't aimed at you! It was aimed at the original poster, who seems to be going one and on and on and on and on. zzzzzzzzzzzzzzzz

Not you at all! I admired your post.

edinburgher

Im telling my grandchildren never to take out a pension or save but get into debt and spend spend spend. What a irresponsible government we had and have to give this message out.

I'm sick to the back teeth of short sighted doom merchants peddling this message of futility!

Whatever happened to personal responsibility?

What you are saying is essentially 'don't make the effort and leave the generations that follow you to take up the slack'. Frankly that's what got us into the current mess and I for one will be damned if I follow this advice.

Yes - bad things happen to good people, financial institutions try to make profits and governments make huge mistakes. It doesn't mean we just give up.

Let's hope your grandchildren have other grandparents telling them exactly the opposite of what you do...

bendix

edinburgher wrote: »

I'm sick to the back teeth of short sighted doom merchants peddling this message of futility!

Whatever happened to personal responsibility?

What you are saying is essentially 'don't make the effort and leave the generations that follow you to take up the slack'. Frankly that's what got us into the current mess and I for one will be damned if I follow this advice.

Yes - bad things happen to good people, financial institutions try to make profits and governments make huge mistakes. It doesn't mean we just give up.

Let's hope your grandchildren have other grandparents telling them exactly the opposite of what you do...

I dunno what people are complaining about. If anyone is only getting 0.5% on their savings, they are either an idiot or totally lazy. I'm getting anywhere between 5-7% on that part of my portfolio that's invested in cash.

But, of course, I suppose it's much easier for the whining class to blame everyone else for their woes and avoid taking the effort to take responsibility for themselves.

Pathetic.

edinburgher

I'm getting anywhere between 5-7% on that part of my portfolio that's invested in cash.

Ok, that's quite good, but even I'm getting between 2.5-3.2% with next to no effort involved. That said, I'd make more effort if I was older and didn't have a reliable salary/any salary coming in.