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Young man need's advice
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Yeah, I think it is bad. Because benefits are meant to be a minimum to survive, not a lifestyle choice.
That all changed in May 1997.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Who says people putting money into Pensioner Bonds are not tax payers? And/or were tax payers for decades?
Well quite. The vast majority of the money going into of these will already have been taxed, and now savers will be taxed again on the interest.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Interesting concept.
Selling some bonds paying a higher rate of interest = a ‘state benefit’.
I’m not sure that if a benefit claimant received a letter telling them that “Your application has been accepted, and you are entitled to 4%. We see that you require £12,000 a year to live on, so just send us £300,000 and your ‘benefits’ will start right away!”, they would be very happy…
The government selling some higher interest bonds is not a ‘benefit’, it’s just a way of raising some cash by targeting a group of people who have it, and then persuading them to part with it.0 -
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Interesting concept.
Selling some bonds paying a higher rate of interest = a ‘state benefit’.
I’m not sure that if a benefit claimant received a letter telling them that “Your application has been accepted, and you are entitled to 4%. We see that you require £12,000 a year to live on, so just send us £300,000 and your ‘benefits’ will start right away!”, they would be very happy…
The government selling some higher interest bonds is not a ‘benefit’, it’s just a way of raising some cash by targeting a group of people who have it, and then persuading them to part with it.
So I guess Index linked savings certificate are and were also "benefits"?0 -
So I guess Index linked savings certificate are and were also "benefits"?
Most likely. And by logical conclusions, it makes those ILSC holders benefit scroungers. Boy oh boy, and there was me thinking I never claimed any benefits :rotfl:
BTW, I think Nocto and you are in violent agreement0 -
The government selling some higher interest bonds is not a ‘benefit’, it’s just a way of raising some cash by targeting a group of people who have it, and then persuading them to part with it.
If it's just about raising money, why not let everyone in? Doesn't limiting it to pensioners mean it could be classed as a benefit?0 -
That's why I was going to reinvest what ever profit I made into some carefully chosen ftse 100 companies or oil futures. I refuse to wait until I'm old just to have a decent quality of life. My dreams are not shattered because there are tons of internet marketers/entrepreneurs that are making money as we speak without even needing to leave their house. It's called the "internet age" where its possible to generate an income stream with just a computer and broadband.
You're missing the bigger picture. There is a lot of money to be made online, absolutely, I can work from anywhere in the world thanks to the internet (typing this from Sweden -- I created some successful websites) but you need more than just a connection to the internet. You need skill, you need to work hard, you need to be in the right place at the right time. Sitting in front of a computer for 12 hours a day will not make you rich.
Think of it like this: a 9 - 5 job is easy and the default because someone else provides you with the structure for generating revenue. When someone works at Tesco, Tesco is providing them with the structure and in return they are providing Tesco with their time which Tesco turn into money and provide the employee a cut of. If you provide the structure yourself you can cut out the middle man and make a lot more money without being beholden to someone else, but you need to turn your time into money by providing value. You can't do this without ability, you can't do this without investing your time into something, you can't do this just by sitting in front of a computer. That's why people talk about education, you need to learn how to provide value to someone, somewhere. You can do this outside of the system (you can learn lots of things online) or within the system (you can go to college, or university) but you're not going to have a chance in hell of getting rich without having something valuable -- unless you inherit, win the lottery or get exceptionally lucky.
Every person you read a story about provided value to someone, somewhere. An entrepreneur is someone who does things. What are you doing?0 -
If it's just about raising money, why not let everyone in? Doesn't limiting it to pensioners mean it could be classed as a benefit?
It is quite normal that certain age and financial limitations apply to savings and investments. We have had such products for years, both in the public and private sector. Examples: CTFs, S&S ISAs (not for under 18s), JISA and adult ISA for 16-18 years olds, JISA for 0-18 year olds, ILSC for over 18s only and limited edition, banks offering better interest rates to kids, limited edition savings accounts etc etc etc.
None of this makes these savings and investments "benefits".
As to Pensioner Bonds: the government has decided to offer to borrow £10bn from people in a given age group, under preferential terms (other borrowing offers exist, see gilts). There are about 9 million over 65s in the UK. Only between half a million and a million people will be able to lend their money. So not even all 65 and overs are covered, never mind everyone.
Of course there is an electioneering element in this - all governments of all colours have always done things like this,
I am sure if the government could have afforded more, they would have loved to offer more. The hardcore anti-establishment will of course find fault with this, as they will with any government action.0
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