London Has Peaked

padington

lisyloo wrote: »

Kteara - you need to understand pensions better before making life changing decisions.

There can be benefits from
. Employer contributions (essentially free money)
. You might pay a lower income tax rate in retirement
. If your employer offers salary sacrifice you will save employees national insurance contributions
. If you employer is kind they may pass on some of the employers national insurance contributions.

A decent retirement IS worth saving for although it's all about balance.
By all means Have that nice car if you can afford it after you've taken care of your housing and retirement needs.
Ironically I've found the best way to have a few luxuries is to buy a house and then gave no mortgage/rent costs.

Understand the power of compound interest first. If a baby pays in a pension from age 0-2 ( by clever parents) the child enjoys the same pension as someone who paid in from 20 - 30 or someone else from 40 -70.

Pay in lots and pay in early (or not and start chain smoking instead).

kteara

I appreciate the replies everyone. I currently work part time do Waitrose which offer a final salary pension scheme. I will not be here for much longer because I will graduate in 2 years and will hopefully get my career job.

What advice would benefit me? What pension should I choose and how do I get it? Thanks

wotsthat

Bubble_and_Squeak wrote: »

isn't prime depreciating?

Not just depreciating but crashing according to the thread on HPC. Daily evidence has been provided of this. Unfortunately the thread started exactly one year ago, prices have risen and the evidence seems heavily reliant on Property Bee.

Maybe the crash started today but who knows?

I don't have an account there but can you wish that thread happy birthday?

System

Ha, I love that thread. It's a perfect accidental parody of the entire website.

wotsthat

kteara wrote: »

I appreciate the replies everyone. I currently work part time do Waitrose which offer a final salary pension scheme. I will not be here for much longer because I will graduate in 2 years and will hopefully get my career job.

What advice would benefit me? What pension should I choose and how do I get it? Thanks

Have a general browse on the pensions board and ask there if you have any pension questions. They can't get enough of them.

If I had my time again I would've started earlier and been more consistent. Some of the excuses I used in the past to justify the low prioritisation of pension provision now look laughable.

Bubble_and_Squeak

padington wrote: »

No, transaction levels have been really high since the prices only recently dropping whilst in wooders transaction levels have been really low and the price has been soaring.

Following transaction levels doesn't give you the whole story. Cheaper property is currently a safer bet so the move is from prime selling finally very recently cheaper and value property's being held high.

yes, i agree with this
they bigger they are the harder they fall
as i expected mortgage approvals continue to fall now that funding for lending has finished

Bubble_and_Squeak

wotsthat wrote: »

Not just depreciating but crashing according to the thread on HPC. Daily evidence has been provided of this. Unfortunately the thread started exactly one year ago, prices have risen and the evidence seems heavily reliant on Property Bee.

Maybe the crash started today but who knows?

I don't have an account there but can you wish that thread happy birthday?

the old ignorance is bliss trick
makes a change from the old make things up trick

Jack_Johnson_the_acorn

Bubble_and_Squeak wrote: »

the old ignorance is bliss trick
makes a change from the old make things up trick

Better than the "sounding absolutely insane" trick that you're pulling.

wotsthat

Bubble_and_Squeak wrote: »

the old ignorance is bliss trick
makes a change from the old make things up trick

You've got to admit it's a good trick. A year long housing crash ending with prices higher than when they started.

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

Better than the "sounding absolutely insane" trick that you're pulling.

we're all insane, my dear acorn
just to varying degrees