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Debate House Prices
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Straight cash ISAs should come with a big warning that says "Inflation will eat your cash - in fact that's exactly what we're relying on to pay down our debts".
They haven't been around that long, but if anybody had been able to put money into a cash ISA 40 years ago, they might be looking at it a bit ruefully now.
I prefer inflation-linked savings. But they impose a massive burden on the future, which the future may be unwilling or unable to meet. I wouldn't bet on anybody except the Government to pay an inflation-linked redemption value more than 5 years ahead, and I'm not so sure about the Government.
As for stocks and shares, well, as Keynes once said, markets can stay irrational longer than you can stay solvent. He lost money, and most amateurs lose money. There are ways of losing money that are more fun than donating it to the City.
So no, if I'm 20, I can't say I've got huge confidence in ISAs as a way to build a retirement pot. The timescale is way too long.
A lot of professionals lose money too, but it's other people's money.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
RenovationMan wrote: »So are you saying that downsizing is a perfectly valid financial strategy?
I may tell you if you can show me whereIberated you for that suggestion."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »I may tell you if you can show me whereIberated you for that suggestion.
Why not just answer the question?
I'm interested, do you think downsizing is a perfectly valid financial strategy?
Go on, indulge me.0 -
RenovationMan wrote: »Why not just answer the question?
I'm interested, do you think downsizing is a perfectly valid financial strategy?
Go on, indulge me.
You are younger than me Renoman (so you have a few years more to get to that point in time), but I think when you get there (at downsize age) I think you will find that you don't need to and don't want to. But of course it is always handy to have the option.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
chucknorris wrote: »You are younger than me Renoman (so you have a few years more to get to that point in time), but I think when you get there (at downsize age) I think you will find that you don't need to and don't want to. But of course it is always handy to have the option.
It'd be a bit too large for just 2 people, though I suppose we could live in the granny annexe and rent out the house.
Shame that grizzly couldn't bring himself to answer the question about downsizing because I was wondering if he still felt that downsizing only works if you have HPI.0
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