glasgowifa.bsky.social
Glasgow based Financial Planner helping people set goals and work towards their financial freedom.
101 posts
54 followers
156 following
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The truth is someone is paying for our embarrassingly comfortable lives.
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at that level, it's ok. But clearly the never ending price rises and huge accumulation of wealth for older people cause a massive generational imbalance.
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However it is an economic problem as fewer people means economic growth will be harder.
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Because most pieces of legislation are decided by the government in offices away from the chamber and generally nodded through, especially when there is any kind of working majority. So the parliamentary debate is rather superfluous.
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strange. Saw it on a visit in Feb 2015. It was busy but not OG Black Friday sales busy.
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I have a bad feeling that if / when this does come to pass here, it will be end up so convoluted and time consuming that a lot of people won't get the chance to use the option.
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fair point
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Sorry Jim, but the death of print has already happened. It's inevitable from this point. Doesn't mean legacy media can't adapt / survive / thrive. That's just business.
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Very strange that this post has been at the top of my Discover feed for much of today.
Feels like you are the Elon Musk of BlueSky.
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sorry Anne, we're not going back to reading printed pages that aren't backlit and you can't make bigger.
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Personal view is media intrusion and holding politicians to a higher standard is a big reason for this and the reason we see 'professional politicians' rather than people from different walks of life and work experience standing.
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So Home Alone isn’t either.
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The IFA market certainly doesn't recommend crypto as an asset class (perhaps we will one day) but if we did it would be a very small part of a diversified portfolio. Yes, this is boring but it also means that bad days are just that, and not devastating to someone's financial future.
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Perhaps with crypto he can and will argue that with no business behind it, social media posts are fair game and assuming there are capital at risk warnings, investors have placed a bet and lost.
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What Logan Paul is alleged to have done is manipulate the market for personal gain. Something that if he was dealing in publicly traded stocks would almost certainly be an open & shut criminal case.
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This means that it can be hugely volatile and investments can turn to dust in a matter of seconds, as many people have found out. We remain in the early days of crypto and time will tell if it will become an actual utility in the form of a currency or will always be thought of as investment.
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Ultimately crypto is the world largest pyramid scheme. There's no company in the background paying dividends, holding physical assets, doing share buy-backs or issues, making profits, mergers etc. The only thing that drives the price is people buying more of it, expecting the value to increase.
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Clearly the main reason people hold any investment is to make money (other than a small number of controlling shareholders). But with crypto that is the ONLY reason people hold them - and in many cases they expect to make a lot of money quickly.
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Ultimately with crypto, unlike with shares or cash, there is no company behind it trading, making profits or losses, paying interest or dividends and giving the market some direction of the business in the future. With crypto there is far less information to trade on.
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Some of us were born here, you chose it 🌑
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As is often the case, those with big asset bases can afford or can justify the advice that might save or mitigate unnecessary tax. For single people with a big property, they are going to have bigger issues and it will be much harder to take mitigating action.
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Remember, for a lot of inherited pensions tax is currently paid when a recipient receives or releases these monies (income tax where the pension holder dies post age 75). It may be the case these IHT changes don't massively increase the tax take. Especially when planning has taken place.
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Perhaps a solution will emerge in the tax law where there is a loophole or a workaround, but I don't imagine this government are going to create one.
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Big issue for making gifts from pensions is you would have to 1st remove it from the pension. This would be in the form of 25% tax free cash then the remaining 75% being taxable income. If you've drawn your 25% already, it will be expensive to lift a big chunk from your pension to gift.
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With regards to gifting, people with IHT issues may be happier to make gifts now and increase the income being drawn from their pension. Like a lot of IHT solutions, doing things little and often can have a big impact rather than allowing years to pass.
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For healthy people, there is also the option of putting life cover in place. While this doesn't reduce an IHT bill, it will provide a means of paying the tax.
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Effectively an individual can gift £325k every 7 years without incurring tax charges. You can also make gifts from regular income without this counting as deprivation of assets.
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Clearly IHT may also be a factor for people who do have large pension pots and haven't or will struggle to spend these funds. Like many IHT solutions, the most straightforward solutions will be spending or gifting during your life.
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For people wanting to save into their pension and looking forward to a long and happy retirement, pension tax relief (and ISAs) remain suitable and generous ways to build up funds during your working life and plan for the future.