MancunianStacker

Anyone watching Youtube could see this coming 😂 

I've looked into my crystal ball and from the mists came this image:
 
 
 

Gold seems very stable today 

We need trump to do some tweeting to get us through £1600 and on the way the £2000oz +

With banks crashing left and right 
Reading through it all.
Who feels a bit warm and fuzzy holding these barbarous relic golden coloured pet rocks  ?? 
 

Only thing you should hold in a bank these days is an overdraft 

Cash is king. Right now my bank account balance shows £0.00.

I’m waiting for a central banker to use the word “contained”. 😆
That’ll be my cue to grab some popcorn, sit back and get ready to enjoy the show as the mother of all financial collapses unfolds before our eyes in real time. I will hate to see people effected by the crash and will do what I can to help as many as possible in what could be difficult times ahead for them. But personally I'm excited and I can’t wait to use my gold to buy up stuff cheap for pennies on the dollar in a few years time after the crash is over.

£2000oz + by 31/12/23 ?? 
Hhhhhmmmmmm I'll have got my gold Una and lion for spot if that's the case !
 

Alasdair Macleod
@MacleodFinance
There are 307 authorised banks in the UK. Many of them rely on large depositors, as opposed to retail deposits. Combo of BoE's bail-in approach to SVB (UK) and deposits fleeing to too-big-to-fails is likely to force some of them to close.

On larger properties yes, a correction - some will downsize, but on smaller ones, the 2 bed terraces and apartments/flats no. These are your first step properties usually owned by landlords. Landlords sick of the legislation and tax issues, so selling them leaving tenants with credit issues unable to rent as most require a credit check. Rental yields gone up more now, landlords are re-entering who didn’t leave or new landlords entering the market. Tons of Hong Kongers buying multiple properties with cash (smart move). 
MSM is telling people there will be a correction / crash but it’s only a crash if you are planning on flipping your house for a quick profit. If you need somewhere to live for 25 years plus, it’s still cheaper to buy than rent. They want generation rent and will put you off buying at all costs.
Give me any property address (outside London at least), certainly in the North West, a couple with average incomes and a 5% deposit and I’d find them a mortgage.
They’ve been predicting a crash for 5 years and without wanting to sound like “Wonga” (old forum member) on Gold Price - no chance of a property crash and you’ll double your house price in 25 years! Guaranteed!!!!
Rates will go up another 0.5% (maybe on 23rd of March) but will be back down lower than today within 2 years, it might just stay this high for another year. People could wait to buy for 2 years but the prices I expect will still be higher than today.
Mortgage product rates have dropped significantly, it’s people’s credit history and lack of knowledge in this area that is preventing them from buying. I have one client in overdraft on 3 current accounts wondering why he’s getting rejected.

The government bank Guarantee Scheme keeps most people’s cash secure and less likely for anyone to bother or even care about a run in the UK these days. Most don’t have £80k sat in one financial institution.
Inflation is the real killer to your cash security 

Yes invest £120k on your 52nd birthday, don’t invest it, keep it in cash, then take out 25% (of the new larger fund - post Govt contribution) tax free cash at age 55.
The Govt pays in a nice wedge for you. If you have the cash to put in that is. Then set up a drawdown and take all the cash out over the years as an income. Don’t even need to be invested in equities or bonds whilst it’s in there. My brothers doing similar and waiting for a crash before investing his pot. 

I’ve never paid into a pension unless my employer matched it £ for £. Wasn’t in those employments long so mines all in Property and Gold. I sleep fine too 😉 

They can just print more money to cover your losses.
Nobody said the £ they guarantee will be worth the £ you deposited 😂 

Yes invest £120k on your 52nd birthday, don’t invest it, keep it in cash, then take out 25% (of the new larger fund - post Govt contribution) tax free cash at age 55.
The Govt pays in a nice wedge for you. If you have the cash to put in that is. Then set up a drawdown and take all the cash out over the years as an income. Don’t even need to be invested in equities or bonds whilst it’s in there. My brothers doing similar and waiting for a crash before investing his pot. 

Yep, i use a SIPP and a workplace pension - ours seems to be a pretty decent scheme so i maximise the contribution to get the most free money from the employer.  leave some in and then transfer across when i have something i want to invest in through the SIPP.  Also keep in mind gross income + bonus and the 40k threshold to try and avoid hitting tax thresholds.

Yes invest £120k on your 52nd birthday, don’t invest it, keep it in cash, then take out 25% (of the new larger fund - post Govt contribution) tax free cash at age 55.
The Govt pays in a nice wedge for you. If you have the cash to put in that is. Then set up a drawdown and take all the cash out over the years as an income. Don’t even need to be invested in equities or bonds whilst it’s in there. My brothers doing similar and waiting for a crash before investing his pot. 

I’ve never paid into a pension unless my employer matched it £ for £. Wasn’t in those employments long so mines all in Property and Gold. I sleep fine too 😉 

Worth noting you get the same tax breaks with a SIPP a 40k per annum tax exemption which can be backdated 3 years if unused.

Yes that's right. But I'd rather have my wealth where I can access it rather than it being locked away for years in a pension fund or similar investment.  
Besides my own investments (mostly property and gold) have probably outperformed pensions and any associated tax benefits they would have offered me so I'm still quids in by opting out. Also I want my money kept safely outside of the financial system in case there’s another 2008 style financial crash or worse.

Fair enough. It makes sense if you're paying for the health and life insurance. Then again if there’s a big enough financial crash most of the insurance policies could end up being toast too but that would onlybe a problem if you needed to make a claim during the crash so not something to worry about really.

Aren’t you missing out on some pretty big tax breaks by doing this.  Even if you don’t like your workplace pension you can still get the pre-tax benefit and then transfer to a Sipp to invest in most things?