Explain to me Why its Good to Pay off Your Mortgage quickly!

maxmycardagain

noh wrote: »

Of course it takes money to do so I didn't say otherwise but the will to save has to be there as well. I know many people who have an "excess of salary" as maxmycardagain says but have no savings.

Nigel

you inferred that those on the breadline can wave a magic wand and summon up enough out of a very small pot enough to save for the future, when you discover how let me know please.

maxmycardagain

I assume everyone hereabouts will have heard that old saying

"In life only two things are certain, debt and death"

I really hope I cheat the first with the help of the second.

Kaz2904

Actualy it's death and taxes.

noh

maxmycardagain wrote: »

you inferred that those on the breadline can wave a magic wand and summon up enough out of a very small pot enough to save for the future, when you discover how let me know please.

No I did not read my post again.
I said that your assertion that pensions "are mainly pots of gold for big fatcat layabout bosses to rob" was a sweeping statement and suggested you do your own research.
I said nothing about magic wands or people on the breadlline.
I said that its often possible to increase your income or spend less at some point in your life to acheive savings. I standby my statement that often its the will to do so thats lacking. Note I didn't say always.

Nigel

setmefree2

Hi Soozy,

That's a very brave and honest reply....hope you enjoy your holiday. We had 3 weeks in California in the summer - bliss!:cool: (dats me in my sunnys). Big girly group hug for being honest & brave & Kind ...:grouphug:

Grade_A_Reject

Dithering_Dad wrote: »

If the work-shy lie unmotivated and bored on a couch all day

I've been working hard all my life striving to lie on a couch all day watching TV.

maxmycardagain

Kaz2904 wrote: »

Actualy it's death and taxes.

in my case it isnt........pmsl

maxmycardagain

regarding pensions, i know of two oddball pensions used by people i know


one was an avid collector of "character (toby) jugs", it seems these have their own "glass's guide" and he bought them throughout his life, they rose in value and he toddles off down the antique shops and flogs 2 a month, bingo, a tax free invisible pension porfolio!

likewise another guy bought a full gold sovereign every month and once retired, sold one a week (or as required), again, no income tax, no vat (no money back, no guarantee)

setmefree2

I know what you mean. I've often thought of investing in gold bars;)

Grade_A_Reject

I'm going to invest in incandescent lightbulbs. Cheap as chips and far nicer than those garish energy saving ones.

And a sought after commodity once they've been "banned".