I have been looking into this recently and wanted some people's perspectives. I am one of those people who plans for the future and have just recently sorted my pension plan out and am looking to make sure I am fully comfortable once I reach that pin prick of light down the tunnel that is my retirement. Do any if you guys have investments or have you used government savings schemes In the past? What's good to invest in? I have bought into shares in my company but that is not something that I feel will be profitable in the long term. I have a couple ounces of bullion silver that I have collected over the years, but merely as a personal interest, gold is too expensive. Oil and gemstones are too unpredictable.. If I won the lotto tomorrow I would invest in as much property as I could but for the time been it has to be little acorns with the hope that from them tall oaks will grow. Anyone experience/ interest in this?
All I have is my savings which I have locked away in the bank for another few years which I will use as a deposit for a house and a few other bits and pieces. After that though I've got nothing sorted out for long term.
I have a small pension allowance from working in the UK/Eire university sector for some years. We also own my Other Half's gold sovereigns (gift from his grandad) and a few olive groves, but these are worth less than they could ever make. We also have the family house, but this is specified for my brother who has learning difficulties to provide for him whatever his circumstances might be, and I wouldn't have it any other way. So the answer to the OP question is... yes, no, and maybe. Once siblings, jobs, job chages, cousins, inheritance, other halves, etc etc etc come into it, the whole question becomes a more tricky one than one might think.
Yeah...inheritance (while not something I'm planning on obv) will muddle it up a bit. My parents have two houses in our village and various other interests so who knows what the future holds.
Its something i started sorting out a year ago - saving a tiny bit on pension, its plan B in case I don't marry my sugar daddy!
Don't ever go to a 'Financial advisor', they will promise you the world and don't ever sign up to any of thier magical fantastic wonderful accounts because you will lose out. Be careful I spend everything Life is far too short, I don't want to think that far ahead. I will be old and poor
That's what we need here on the forums.. We have nearly every other profession, a stock broker!... Actually thinking about it we need a vet too.
One of my friends is fab with money he is an Accountant and he sorts me out. I shall quote him 'Jesus Christ you remember every bit of useless information about dead women in big dresses but you can't read a bank statement'
accountants are all the same i get "you don't even know what you earn" .... i resent that, some people just dont fixate on figures I have a friend who (through somebody) invested in gov bonds and got a very good return! bought a v nice apt with cash, so who dares n'all .....but you can lose it all at that
That is sort of the way I look at it. I would like to be more sensible at times but then also feel 'whats the point'. It means nothing in the end. I have seen too many people go far too quickly to think that far ahead (not wanting to sound morbid) but I believe in living for the moment “What day is it?" It's today," squeaked Piglet. My favorite day," said Pooh.”
i knew what my net was i just didnt know what the gross was (after tax, pension/health insurance etc etc had come out of it I suppose the point is " quality of life" ??? that's the way I look at it
Working in the public sector, I have a decent pension plan so I'm pretty sorted on that score. I have a savings account too but it never seems to increase in amount lately! I'll get some land at home as an inheritance somewhere down the line, so that's good too. If I had the money now, I'd definitely invest in property as the value can only increase.
I'd like to invest in art too - it can go up in value and looks pretty too. I've heard of people doing the same with wine; but in my opinion wine is meant to be drunk!
There is a painting that I love that would be the first thing I would buy if I won the lotto.... Louis le broqay : 'Diana hunts the moon' the price tag was 200,000 when I saw it in an art gallery in 2009!it has since been bought :-(
for those not in the property ladder now is the time to get on it, bum..rob...steal as for pensions the adm of them is where the killer is and to be looked at very careful at what the adm cost will be as most get burned with no growth and high adm costs. Nothing wrong with a good investment savings a/c with a high street bank as a future store for the future.
My Parents have bought two other houses in Cork so myself and my sister have starter homes, well the mortgages will be greatly reduced on them. My next thing is to set up some sort of long term saving so that I have a bit of money put away
i think buying original art you really like is always good , but i dont know how art holds or appreciates in value? You have an insured value for an established artist lets say but at auction its a buyers market? if you buy a new artist its on a hunch that their career will rise...
I've a good few years built up in pension contributions from my tour of the US multinations in Cork but it's not exactly much given the amount put into it. At the moment I'm working in the public service so will be getting one of those pensions as well which of course depends on how long I end up staying there. Hopefully between the two I'll be able to surive later in life. Must admit I'm thinking it might be a good time to consider buying a house as well as a friend of mine is looking at the moment as well.
