| Some brighter news amidst the gloom 17:06 - Oct 7 with 2025 views | Darth_Koont |
https://www.bbc.com/news/business-54446285
Always good to know that in a time where many thousands of smaller companies are going to the wall, millions of workers are losing their jobs and/or livelihoods and billions of taxpayers are going to be asked to pay the costs, that a few thousand super-wealthy people have significantly added to their obscene personal wealth.
Obviously, a lot of executives, politicians and other servants will be duly compensated but can anyone outside of that gravy train explain why this is the status quo we are defending?
Capitalism was never about creating wealth per se. But that’s the bit that now works unfailingly, while investing in the means of production has been outsourced to society. |  |
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| Some brighter news amidst the gloom on 20:06 - Oct 7 with 819 views | Nthsuffolkblue |
| Some brighter news amidst the gloom on 20:00 - Oct 7 by hampstead_blue |
In the nicest possible way you are incorrect.
Not one for this thread but I do know this area well. I helped Pension Wise with their process and guidance.
Another time maybe. |
So anyone can transfer the whole of their pension pot at any stage into this type of fund without penalty?
As I say, not anything I understand at all so you may or may not be correct. However, since there are significant tax breaks on payments into pension funds I would be surprised if this is not limited to the tax-free lump sum available at pensionable age rather than to during the term of the pension.
EDIT: plus if the investment product you are referring to has any element of risk, people who are relying on their pension to live in the future really cannot afford to do that.
FURTHER EDIT: Your PM still doesn't answer these questions but your first link hints at an answer "Remember that investments go up and down in value, and you could lose money as well as make it. How you’re taxed will depend on your circumstances, and pension and tax rules can change." [Post edited 7 Oct 2020 21:24]
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| Some brighter news amidst the gloom on 21:59 - Oct 7 with 778 views | longtimefan |
| Some brighter news amidst the gloom on 20:06 - Oct 7 by Nthsuffolkblue |
So anyone can transfer the whole of their pension pot at any stage into this type of fund without penalty?
As I say, not anything I understand at all so you may or may not be correct. However, since there are significant tax breaks on payments into pension funds I would be surprised if this is not limited to the tax-free lump sum available at pensionable age rather than to during the term of the pension.
EDIT: plus if the investment product you are referring to has any element of risk, people who are relying on their pension to live in the future really cannot afford to do that.
FURTHER EDIT: Your PM still doesn't answer these questions but your first link hints at an answer "Remember that investments go up and down in value, and you could lose money as well as make it. How you’re taxed will depend on your circumstances, and pension and tax rules can change." [Post edited 7 Oct 2020 21:24]
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Anyone who has a non-final salary pension (defined contribution based pension) will be invested in a scheme that carries risk unfortunately. |  | | |
| Some brighter news amidst the gloom on 22:52 - Oct 7 with 760 views | eireblue |
| Some brighter news amidst the gloom on 19:53 - Oct 7 by DanTheMan |
We had innovation and creation without the super rich, they are not a prerequisite. The internet you are using at the moment was not developed by the super rich.
Here's an example.
Every day you use software written by people who did things completely for free, for absolutely no financial reward.
Google was originally written in two open source programming languages, although a gigantic corporation managed to stifle the innovation of one of them for a good decade.
The world's most used operating system, that runs the of most of the internet, was written by volunteers for the most part.
The ultra-rich are not a necessity for job creation any more than feudal lords were. Nor are they a necessary part of innovation.
The thing that people have a problem with is that these people get obscenely wealthy off the expense of others. [Post edited 8 Oct 2020 7:51]
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I think one thing Hampy fails to understand is that Amazon, don’t make that much money on retail.
They undercut the traditional retailers.
As you probably know, what profit Amazon does make is from AWS.
So in terms of retail, Amazon hasn’t really created that many more jobs. In terms of retail it has reduced jobs.
And of course it has, Amazon retail, is more efficient, and that means less jobs. That has been a pattern of industry for quite a while, innovation leading to more efficiency.
Hampy seems to have far to simple a view.
One would hope, that people that did work in bookshops, as an example, and are not in a Amazon warehouse, are in a job that makes more money for them than being in a book shop.
Even if the number of retail staff, are replaced with the same number of warehouse and call centre staff that are paid less, then wealth isn’t created. It is moved.
Humans need to have jobs that provide more money for them, when more efficient means of creating wealth are invented.
But that isn’t necessarily happening. And if that isn’t happening, wealth is just being consolidated. |  | | |
| Some brighter news amidst the gloom on 22:54 - Oct 7 with 757 views | SpruceMoose |
| Some brighter news amidst the gloom on 22:52 - Oct 7 by eireblue |
I think one thing Hampy fails to understand is that Amazon, don’t make that much money on retail.
They undercut the traditional retailers.
As you probably know, what profit Amazon does make is from AWS.
So in terms of retail, Amazon hasn’t really created that many more jobs. In terms of retail it has reduced jobs.
And of course it has, Amazon retail, is more efficient, and that means less jobs. That has been a pattern of industry for quite a while, innovation leading to more efficiency.
Hampy seems to have far to simple a view.
One would hope, that people that did work in bookshops, as an example, and are not in a Amazon warehouse, are in a job that makes more money for them than being in a book shop.
Even if the number of retail staff, are replaced with the same number of warehouse and call centre staff that are paid less, then wealth isn’t created. It is moved.
Humans need to have jobs that provide more money for them, when more efficient means of creating wealth are invented.
But that isn’t necessarily happening. And if that isn’t happening, wealth is just being consolidated. |
Oh shut up you stinking Marxist. |  |
| Pronouns: He/Him/His.
"Imagine being a heterosexual white male in Britain at this moment. How bad is that. Everything you say is racist, everything you say is homophobic. The Woke community have really f****d this country." | | Poll: | Selectamod |
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| Some brighter news amidst the gloom on 06:28 - Oct 8 with 726 views | Darth_Koont |
| Some brighter news amidst the gloom on 18:18 - Oct 7 by hampstead_blue |
It's good to know that the businesses these super rich people run and have created have bought so many jobs and have shared so much wealth.
What about the normal people who have made good money?
Lots of investment funds have done really well. One of my funds in my SIPP has risen 12% in the past couple of months. Allianz Technology Trust. Happy to share that tip.
These people are important. Dyson has just had his degree at the Dyson Uni signed-off. That's incredible.
Amazon have created loads of jobs in the UK. Not all are minimum wage. They are also massive employers of veterans into management roles.
Loads of good news in that story.
Ok a few at the top get richer but the wealth they create is also wonderful.
We should be thankful capitalism allows such wealth to be created and that there are entrepreneurs who feel they will be suitably rewarded and encouraged to build something special.
Good article and thanks for sharing it.
I do disagree with your premise, but that's Ok we can all get along. |
Bless. | |
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| Some brighter news amidst the gloom on 07:29 - Oct 8 with 704 views | Keno |
| Some brighter news amidst the gloom on 19:05 - Oct 7 by hampstead_blue |
A SIPP can be opened with £1,000. If you've a few old pensions it's easy and a very good idea to open a SIPP.
AJ Bell are good. I'm with ii.
It's something which should be normal as it gives people access to lower charges and broader investment choice.
The OP.
I get it that there is poverty, I was celebrating the success of these people and the facts that they have created thousands of jobs on a global basis.
Those jobs create wealth and give people incomes.
It's boring when the same few posters just throw mud at success and don't tip their hats.
Dyson is a legend. Bezos the same.
The huge benefits we all get just because of Bezos is immense. We shop for less and get access to products we'd never otherwise see or know about.
I'm chuffed they are wealthy as we all benefit from it.
I've never worked for Amazon so really cannot comment. I also know there are cruddy employers in every corner of every town.
Let's celebrate their unbelievable wealth!
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For Phil's sake in the event of someone acting upon your 'advice' are three issues which could potentially arise, especially as you make no consideration to the circumstances and in particular risk profile of whoever is reading the 'advice' you offer
1, Writing something online is different to the 'make chatting in the pub'. I am not aware if you are suitably authoised to give such 'advice' or not but if you are not then you are committing an offence which can potentially carry some severe penalties
2, if someone acts upon 'advice; which is later found to be unsuitable for them or leads to suffer a financial loss they were not prepared for they could sue you and would win. I assume you do not pay a vast fortune in PI insurance to cover that
3, lastly, and this is where Phil comes in, in the above circumstance TWTD could be also be deemed liable by allowing the publication of of 'unauthorised, unapproved and potentially unsuitable 'advice'
You can say what you like verbally, you can offer "friendly guidance' privately but you are often potentially crossing a line which some of what you post.
Just trying to help |  |
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| Some brighter news amidst the gloom on 08:12 - Oct 8 with 684 views | hampstead_blue |
| Some brighter news amidst the gloom on 07:29 - Oct 8 by Keno |
For Phil's sake in the event of someone acting upon your 'advice' are three issues which could potentially arise, especially as you make no consideration to the circumstances and in particular risk profile of whoever is reading the 'advice' you offer
1, Writing something online is different to the 'make chatting in the pub'. I am not aware if you are suitably authoised to give such 'advice' or not but if you are not then you are committing an offence which can potentially carry some severe penalties
2, if someone acts upon 'advice; which is later found to be unsuitable for them or leads to suffer a financial loss they were not prepared for they could sue you and would win. I assume you do not pay a vast fortune in PI insurance to cover that
3, lastly, and this is where Phil comes in, in the above circumstance TWTD could be also be deemed liable by allowing the publication of of 'unauthorised, unapproved and potentially unsuitable 'advice'
You can say what you like verbally, you can offer "friendly guidance' privately but you are often potentially crossing a line which some of what you post.
Just trying to help |
Thanks.
I wasn't aware that Phil could be held liable if this was taken as advice.
It was meant as guidance. I was licenced to give advice but left that when I sold-up. I'm fully qualified to give advice and manage money but don't these days.
The post was meant to offer people something to look at and also mentioning Pension Wise as they offer free guidance with signposting. I spent a year there and helped wrote some policy so fully know what the current and official guidance is. My posts do follow that.
I'd be mortified if someone took it a advice. Your 'chat in the pub' and 'posting' comparison is interesting as this was 100% meant as 'chat in the pub'.
One problem with regulated advice is that unless you pay, as you do a solicitor, you can find your advisor puts you into pooled funds which are not really better than you could so yourself for much less cost. |  |
| Assumption is to make an ass out of you and me.
Those who assume they know you, when they don't are just guessing.
Those who assume and insist they know are daft and in denial.
Those who assume, insist, and deny the truth are plain stupid.
Those who assume, insist, deny the truth and tell YOU they know you (when they don't) have an IQ in the range of 35-49.
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| Some brighter news amidst the gloom on 08:20 - Oct 8 with 679 views | hampstead_blue |
| Some brighter news amidst the gloom on 20:06 - Oct 7 by Nthsuffolkblue |
So anyone can transfer the whole of their pension pot at any stage into this type of fund without penalty?
As I say, not anything I understand at all so you may or may not be correct. However, since there are significant tax breaks on payments into pension funds I would be surprised if this is not limited to the tax-free lump sum available at pensionable age rather than to during the term of the pension.
EDIT: plus if the investment product you are referring to has any element of risk, people who are relying on their pension to live in the future really cannot afford to do that.
FURTHER EDIT: Your PM still doesn't answer these questions but your first link hints at an answer "Remember that investments go up and down in value, and you could lose money as well as make it. How you’re taxed will depend on your circumstances, and pension and tax rules can change." [Post edited 7 Oct 2020 21:24]
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Re your edits.
Every investment, cash included, has risk attached.
Cash reduces in value every year, even in a deposit interest bearing account. You are paying a huge price for that supposed security.
There is a huge investment choice to help you grow your retirement pot. However, the general public isn't taught about how to manage money hence the apparent 'worry' that you can lose everything on the stock market.
Technically you can, the same as cash, but with some simple lessons you can manage you money successfully to increase your wealth in retirement.
Financial education is a huge problem in this country. Your worries would be greatly reduced with a few hours of straight forward training and knowledge.
It's sad and annoying that everyone isn't given the basics so they can grow what funds they have.
Final point. Very few people pay enough into their pension to fund any kind of retirement. Even though money is tight in every household, putting money into a pension attracts an instant boost from the tax man. Seek advice, call Pension Wise. https://www.pensionwise.gov.uk/en
They are set-up for the over 50's but the core message is on the website. | |
| Assumption is to make an ass out of you and me.
Those who assume they know you, when they don't are just guessing.
Those who assume and insist they know are daft and in denial.
Those who assume, insist, and deny the truth are plain stupid.
Those who assume, insist, deny the truth and tell YOU they know you (when they don't) have an IQ in the range of 35-49.
| | Poll: | Best Blackpool goal |
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| Some brighter news amidst the gloom on 08:25 - Oct 8 with 675 views | Herbivore |
| Some brighter news amidst the gloom on 18:31 - Oct 7 by hampstead_blue |
You need to go back and re-read. At no point was trickle down mentioned.
They create wealth through great jobs, shares that grow, and radically changing markets.
Try harder with your next insult |
Great jobs you say?
https://www.independent.co.uk/news/uk/home-news/amazon-workers-sleep-tents-dunfe
Honestly, your world view is so messed up. We're talking about a few individuals creating wealth primarily for themselves whilst governments prop up their poorly paid workers and you seem to think this is absolutely wonderful and to be celebrated. Utterly bonkers. |  |
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| Some brighter news amidst the gloom on 08:30 - Oct 8 with 670 views | DanTheMan |
This goes towards eireblue's point that Amazon makes far more money from AWS (and hence pays them and treats people on that part of the business well) than they do their retail arm.
They could completely pack in their website and still make money hand over fist. |  |
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| Some brighter news amidst the gloom on 08:32 - Oct 8 with 666 views | Darth_Koont |
Hampstead is either lying to us or to himself. Either way it’s BS. | |
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| Some brighter news amidst the gloom on 08:37 - Oct 8 with 656 views | Herbivore |
So we now know that Hampstead's understanding of politics is gleaned entirely from Cold War era Bond films and a couple of Churchill speeches, and that his understanding of economics comes entirely from American Psycho. | |
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| Some brighter news amidst the gloom on 09:44 - Oct 8 with 617 views | longtimefan |
| Some brighter news amidst the gloom on 08:30 - Oct 8 by DanTheMan |
This goes towards eireblue's point that Amazon makes far more money from AWS (and hence pays them and treats people on that part of the business well) than they do their retail arm.
They could completely pack in their website and still make money hand over fist. |
Yep. Report I saw had AWS with a 33% share of the Cloud computing market. Currently that market is around 370 billon US, expected to grow to 850 billion by 2025. Absolutely massive! | | | |
| Some brighter news amidst the gloom on 09:47 - Oct 8 with 613 views | DanTheMan |
| Some brighter news amidst the gloom on 09:44 - Oct 8 by longtimefan |
Yep. Report I saw had AWS with a 33% share of the Cloud computing market. Currently that market is around 370 billon US, expected to grow to 850 billion by 2025. Absolutely massive! |
Pretty much everyone is moving to it, it just doesn't make sense to run your own servers anymore. AWS, Google Cloud, Azure, they're all fantastic pieces of engineering. | |
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| Some brighter news amidst the gloom on 10:17 - Oct 8 with 599 views | longtimefan |
| Some brighter news amidst the gloom on 09:47 - Oct 8 by DanTheMan |
Pretty much everyone is moving to it, it just doesn't make sense to run your own servers anymore. AWS, Google Cloud, Azure, they're all fantastic pieces of engineering. |
Not just servers, virtualisation is the current big thing - running stuff in the cloud that currently runs on proprietary hardware. | | | |
| Some brighter news amidst the gloom on 10:22 - Oct 8 with 597 views | eireblue |
| Some brighter news amidst the gloom on 09:47 - Oct 8 by DanTheMan |
Pretty much everyone is moving to it, it just doesn't make sense to run your own servers anymore. AWS, Google Cloud, Azure, they're all fantastic pieces of engineering. |
As an indicator of the affection other retailers have for Amazon, they tend to prefer to use GCP or Azure. | | | |
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