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Do You Think Income Tax Banding is Fair?
Comments
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gorgeyetsun wrote: »Why not stay on topic and try and debate the issue?
Struggling and trying to deflect with a bit of trolling?
I only have one sign in I don't need to troll..
The thread wasn't about pensions.
Nice to see the signature back.;)"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 -
Re your final paragraph you appear to be confusing investment vehicles with what you'll do with your pension pot once you retire. A SIPP is what you put your money into. An annuity is what you're forced to purchase with (most of it) when you retire.
http://www.pensions-advisor.co.uk/income-drawdown-ppc-landing/?gclid=CLezi-vNi7UCFSbMtAodiQoAkA
Will no doubt be one of the options to come back."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: »http://www.pensions-advisor.co.uk/income-drawdown-ppc-landing/?gclid=CLezi-vNi7UCFSbMtAodiQoAkA
Will no doubt be one of the options to come back.
The outside possibility that treatment of pension pots / options etc may get better (!) is actually the reason I still say they have a place. I don't think they will but it's possible. Probably the only other thing I like about them is for a lot of people they're an easy way to save because it's deducted at source, a seemingly trivial point but one not to be underestimated.
But I STILL like to have control over most of my money. Even if you never do it, it's kind of nice to have the option to put it all on red.0 -
gorgeyetsun wrote: »Isn't Reno a gambling city in the US? Not sure how it's appropriate here?
No, I think he's referring to a bloke who used to post here called RenovationMan. Anyway, the bloke was a complete !!!!, with a Personality disorder. He ended up having a tantrum and getting banned.0 -
My tax for the year will be 13K, I obviously would like to pay less
My Pension is £241 a month, I'd like to pay less but unfortunately if did the benefits would suck.0 -
I do actually know quite a few people aiming to build a pension pot that size or bigger. If you're paying a decent chunk into a pension from when you start work it's quite achievable. And of course it's precisely the people who earn the most who need to worry the most about tax. People who earn nothing don't need to worry at all.
Great, then you know quite a few people who are 'on the ball' as far as their retirement planning is concerned. Perhaps you should follow the example of well paid people rather than the example of low paid people and get yourself a pension?plenty of people will have a chunk of final-salary pension. To give an example, the final salary at BT where I worked a fair while was 2/3 of your final salary (index-linked) if you worked 40 years. So 1/3 of your final salary if you worked 20 years & so on. I know tons of people who did 20-odd years at BT then left in their early 40s (massive release program in BT in the 80s) with whacking great final salary pensions waiting to kick in. Some of those guys are higher-rate taxpayers on that final salary pension alone, let alone whatever other pension arrangements they make in the next 20 years!
Once again you seem to be using people's pension successes to argue against my premis that getting a pension is a 'no brainer' Are you sure you wish to pursue this line of logic? :rotfl:Re your final paragraph you appear to be confusing investment vehicles with what you'll do with your pension pot once you retire. A SIPP is what you put your money into. An annuity is what you're forced to purchase with (most of it) when you retire.
You're just plain wrong here. You haven't been forced to buy an annuity for a good many years. You can put your pension into Drawdown, with the retirement income based on investment returns and capital withdrawal - exactly as you'd do with an ISA.0 -
The outside possibility that treatment of pension pots / options etc may get better (!) is actually the reason I still say they have a place. I don't think they will but it's possible. Probably the only other thing I like about them is for a lot of people they're an easy way to save because it's deducted at source, a seemingly trivial point but one not to be underestimated.
But I STILL like to have control over most of my money. Even if you never do it, it's kind of nice to have the option to put it all on red.
Erm, drawdown has been available for a long time, so the 'outside possibility' is already a fact.
What sort of 'control' over your retirement income are you looking for?
As an aside - I've seen so many people rubbish pensions, but they soon ghost out of the discussion when you ask the question "So... if you are not investing in a pension, how are you going to fund your retirement?".0 -
No, I think he's referring to a bloke who used to post here called RenovationMan. Anyway, the bloke was a complete Titan, with a wonderful Personality. He ended up defeating all of the Bears on a regular basis and so we clubbed together to get him banned.
Wow, this guy must have eviscerated so many people in internet debates to have so many people lining up to troll him. It's not really any of my business, but it really isn't healthy to hold in all that anger and you guys should really just take your beatings and move on with your lives.
Just a thought.:cool:0 -
I think I'll leave you to argue among yourself.0
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It must be time for us to all flounce out of here
Here's Renoman. :eek:0
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