Preparedness for when

JayneC

countingthepennies wrote: »

I am usually just a lurker on this excellent thread, and only post when I need some advice, so again - I am asking for advice .

Even before everything hit the fan in Cyprus I have been very worried about some money which is invested for my teenage daughter. She inherited aprox £20,000 from her dad when he passed and this is held in trust until she is 18. With the assistance of a financial advisor it is mostly in less risky (or so they were considered at the time!!) investments, and a small proportion is in a National Savings account. She has two years before she can access the money. Myself and a friend of her dads are the trustees.

I feel increasingly compelled to go back to the fianancial advisor and have her money moved somewhere 'safe', but I really dont know what you would consider safe. I am terrified she is going to lose her money, either through a financial crash, or the government seizing it.

This was her only chance of a good financial start, but I know its been losing value in the time its been invested.What would you do??

Hi there,

I see gold/precious metals have already been suggested but what about thinking what you hope she'd spend that money on and buy it or some of it, if that is an option?

Today I did it - I sent off the form to stop my pension contributions and that's what I'm planning to do. I will purchase items I think will be useful for me in times to come. A good log splitter, good saws and knives, cooking pots, some alterations and repairs to the house, etc, etc. I figure that this is as much of an investment as anything else and at least it's tangible, I may get some gold too if I can. I am planning to set up a payment directly from my wages into the local credit union to keep it somewhat separate and hopefully a teeny bit safer than the banks, or at least less susceptible to raiding, but I shan't be accumulating too much at a time.
I noticed that they automatically re-enrol you after 3 years and I believe this is now standard practice everywhere, me wonders if this is a ploy to ensure that there's money to invest, a way of forcing us into the shady dealings of stocks and shares or am I just being paranoid;)

On prepping front today I bought a couple of books half price at the CS - The Dangerous book for Boys which has lots of useful info on building stuff and bushcrafty type activities 75p and Encyclopaedia of Natural Medicine £1:T
Also got some proper dressmaking scissors from Aldi £1.99 bargain!

2tonsils

GreyQueen wrote: »

pineapple, there will be a run as soon as they re-open the banks. The actions of TPTB have effectively ensured that.

International capital will flit as soon as money-transfers can make it happen. Rich and powerful people don't like being wrong-footed and you can bet your last tin of tomatoes that they're poised to start shifting their dosh the second the banks re-open. It'll be see Jack run.

Some people will decide to throw in the towel and leave Cyprus. Property prices will plummet and businesses will be lost. Brides at the earliest stages of planning their dream beach wedding will look elsewhere. Ordinary folks will take out just about everything they can to hold as cash (field day for burglars, no doubt). I can predict good biz for jewellers and supermarkets. I expect some ex-pats, inc Brits, will be giving serious thought to re-patriating themselves. Seen a lot come back from Spain in recent years..........

Leading Cypriot politicians will resign in protest (realitsically, saving their own skins from having to face the populace's justifiable fury and trying to put a gloss on it).

I'm reminded of a pithy aphorism I heard recently in RL; you can roll a t u r d in glitter but it still stinks just the same.

I heard that many people in the know removed their money over the last few months...including the church who had a lot invested in the Cyprus banks......makes me wonder.......

Dippypud

2tonsils wrote: »

I heard that many people in the know removed their money over the last few months...including the church who had a lot invested in the Cyprus banks......makes me wonder.......

I wonder if we could include the Vatican Bank in that ?.

exarmydreamer

The Spanish have a 'fiesta', starting tomorrow and Wednesday, sort of one of their bank holidays - I think Thursday will be very interesting indeed.

GreyQueen

elona wrote: »

GQ

I am older than you and think they look about twelve :eek:

Do you remember the line in one of Pratchet's books that reckoned when a man in Lancre looked for a wife he wanted one, who when the wolf came to the door , would belt it with a skillet, skin it , cook it and make a rug for in front of the fire.

:rotfl:LMAO. I do love Mr Pratchett's style.

Some of my Dorset ancestors were blacksmiths. Several generations in fact. Which perhaps explains why I'm such a strapping lass. And the deep affinity I feel for hardware stores.

I think my peasant ancestors prolly looked for a woman with good childbearing hips and a lot of bl00dy-minded determination. She'd be able to milk the cow and wrestle it into the byre if necessary. She'd be able to build the byre, come to think of it.

At least that's my excuse for the way I am and I'm sticking to it.

We will draw a discreet veil over the branch of the family who were thieving other people's cattle not a million miles from the Mardatha Homestead.

I always bear in mind that we're the descendants of the ones who were tough enough to live to breed. If you think about all the trouble there's been in recorded history, that should give you pause for thought about yourself and your fellow moderns, heh?

Big chunk of wonga has now left my bank account and is winging it's way into the bottomless pit called the council tax fund. Nearly one-twelth of my take home pay, that was. Still, gotta be paid and better it's over there than I get a liability order. Not like it was earning any blinking interest...........

See youse try to "tax" that, Mr Osbourne.

Just wish I could get the wider family on side with some prepping. Heck, even a decent pantry would be a start. *sigh*

countingthepennies

Thankyou pineapple and JayneC for your advice. Funnily enough I have been looking into buying gold. I would like to be able to somehow 'turn' the money into something tangible that will not lose its value and could later be sold to 'turn it back' into cash. Gold never seems to lose its value,but will there still be a demand for it when TSHTF? After all you cant eat it and it wont keep you warm. Saying that though, governments always seem keen to hoard it when cash has no value.

Could we buy a little plot of land with £20,000 . A little spot somewhere quiet where we could pootle around while the rest of the world goes to pot?!

mrs_lds

The Cypriots have a gun to their heads

http://www.businessinsider.com/gartman-cyprus-stealing-russian-money-2013-3

bluebag

countingthepennies wrote: »

I feel increasingly compelled to go back to the fianancial advisor and have her money moved somewhere 'safe', but I really dont know what you would consider safe. I am terrified she is going to lose her money, either through a financial crash, or the government seizing it.

This was her only chance of a good financial start, but I know its been losing value in the time its been invested.What would you do??

The UK government is in control of it's own currency and so the problems of the Euro don't really affect us directly. Although it may indirectly.

The gov is unlikely to seize it as in all at once as they don't have to, they have picked our pockets by 30% already with inflation, there is no need for them to mug us.

If there is a full on financial crash, then you will have a lot more to worry about than money.

Realistically, any money invested has a risk attached, you can only choose the lowest risk you are able at the time.

The alternative is to stuff it under the mattress which isn't exactly risk free either.

elona

GQ

Don't call it prepping. My DH and DDs think I am a nutcase for stocking up - until it is bad weather or illness in the family and we have stuff so don't have to shop- or till they realise I saved a third of the price of things in store by using offers etc.

DH got enthusiastic once I explained I was beating supermarkets at their own game and also reducing the times he had to drive me to the shops He is even more pleased I have started to shop at local butchers as quality and quantity is so much better.

Have just ordered a load of kitchen, bathroom and universal spray cleansers at 16 pence a bottle (but not told him yet).

DDs now assume I am eccentric but "it is sweet of me to worry" and older dd who lives down south takes the chance to stock up when she comes home for a visit.

Jojo_the_Tightfisted

westcoastscot wrote: »

Maryb I think GQ is right, and pardon me if you're a young slip of a thing but as we get older we have less resilience.
Taking care of myself has really been brought home to me since my arthritis diagnosis - as it really impacts on my day to day wellness. I try and sit in a sunny spot with my book for 10 minute slots in the day, even with a hat and gloves on - really lifts your spirits too. I find also that once i've forced myself out I do wee jobs in the garden while I'm there - it never seems so bad once i'm actually out as it looks through the window.

I'm seriously considering future-proofing my home GQ, my arthritis is worsening at quite a rate - I struggle with the stairs first thing in the morning for a few hours, and with the bathroom downstairs it's not a lot of fun. Also getting out of the bath is a game. I'm seeing the OT on friday, and then am going to make some informed plans that will hopefully allow me to stay home for the rest of my days. I'm also in the process of future-proofing myself by adding to my education - my theory being that I work 17.5 hours a week at present, and can live on that. In the future if I can improve my hourly wage I will be able to cut down those hours and still manage - i'm not expecting there to be any welfare support when I need it, and I cannot see me being able to keep going as I am until I can retire at 68. My original retirement age of 60 was looking so close as well!!!!

[waves]

Hi all, haven't been around for a while, trying to create a few escape routes for financial things - ie, investing in skills and talking to people with a view to getting some voluntary work, which would pay for a CRB check, get experience, etc, so that I have some more practical skills. OK, still not going to make me a millionaire, but if it leads to one day paid work, it's a day more than without it.

Oh, and sorting out the latest almighty f-up by the council relating to HB and CTB. It took 3 months for a simple, cut and dried 'here's a copy of what you already have' to be translated into a 'so sorry and the money's been paid'. :mad:


Anyhow, having RA myself, I would suggest a bath sized walk in shower with glass screens and a level access floor. The size enables you to move around freely, the level access stops you tripping over a shower pan, and the fact it's an enclosed shower rather than a wet room means you don't spend your time dealing with a freezing cold and somewhat damp bathroom with a slippery 'non slip' :cool: floor and a burgeoning mould problem. And get a shower with an option for a seat.



Personally, considering the fact that it is now official that, as much, much older folk said before we ever came along, you can't trust banks, the pittance that comes into my accounts is being withdrawn to the penny the day that it goes in now - the bills that cannot be converted to cash payments get covered, everything else is cash from now on. Especially with bank holidays coming up; and if it has to live in the house with the slightly dubious medication, well, I'll just have to risk it.