What Preps are you doing this week? Part 10

[Frnc]

Sorted all my weather websites and apps to the same order on desktop and phone. I have 3 that are phone only, and 1 that is web only, but I keep Firefox to represent it in sequence on the phone. Wrote a list out I can copy and paste. I have people saying they are coming tomorrow, but Met issued a yellow thunderstorm warning. Some sites forecast rain for today though, and it's been sunny and dry. Some are more pessimistic than others, I reckon. Met doesn't tell you the amount of rain expected. I think it's useful to know. Big difference betweem 0.1mm and 10mm in an hour.

Here's my list
- [ ] Met Office
- [ ] BBC
- [ ] Accu
- [ ] W Channel
- [ ] W Bug
- [ ] W Underground
- [ ] Meteored/Your Weather
- [ ] Metcheck (Firefox on phone)
- [ ] W Network

App only
- [ ] Apple (“Weather”)
- [ ] W Radar
- [ ] XC

[jennyjj01]

This week is seeing me trying to rearrange investments to take some of the volatility out of my Pension savings and investments. Finance is my current #1 Prep priority, because I see retirement poverty as my #1 threat. . . Triggered by inflation.

Food loses value slower than cash in the bank, even after interest.
So...
I'm intent on a Big shopping list this week to almost double my supplies of food and essentials. Steady buying didnt feel fast enough and I have a modest cash bonus to spend.

[PreppingSu]

This week is seeing me trying to rearrange investments to take some of the volatility out of my Pension savings and investments. Finance is my current #1 Prep priority, because I see retirement poverty as my #1 threat. . . Triggered by inflation.

Food loses value slower than cash in the bank, even after interest.
So...
I'm intent on a Big shopping list this week to almost double my supplies of food and essentials. Steady buying didnt feel fast enough and I have a modest cash bonus to spend.

Pension poverty is what worries me the most. I know I will have to work past Pension age but certainly not in my current job. I am putting as much money aside each month as I can to help. I've cleared debt and am spending some money replacing household items now so that they will last eg bath towels, kitchen equipment.
Still adding to food stores too.

[jennyjj01]

Triggered by inflation.

Pension poverty is what worries me the most. I know I will have to work past Pension age but certainly not in my current job. I am putting as much money aside each month as I can to help. I've cleared debt and am spending some money replacing household items now so that they will last eg bath towels, kitchen equipment.
Still adding to food stores too.

Pension Poverty Absolutely scares me. We were quite comfortable with savings and a modest company pension until inflation shredded the value of our savings and investments. And from pension age there is very little we could do to bolster income as prices soar.
I just secured a few more months part time work, which will fill almost another year of NI towards state pension and will give us a modest boost to savability. But in the scenario of a 30 year retirement, it's a drop in the ocean. A lot can happen to State and company pensions over 30 years of retirement..... Actually, before someone else says it.... A lot can happen over ANY 30 year period.

[Frnc]

Saving money is obviously a priority but is not inflation proof. Hopefully state pension is somewhat inflation proof. How can we inflation proof ourselves? Im not sure. You can buy things you know you will need in the future if you see them at a good price. For me, having lodgers. In fact I haven't increased their rents at all, for nearly 10 years, apart from about £10 when gas and electricity went up a few years ago (not the last couple of years' sudden increase, as I'm on a fixed rate). But I could up their rents eventually. They are below market rate. I am more careful with my shopping now, an so far my monthly groceries spending hasn't gone up much. Shop around! I just bought 500g Nescafe Azera on ebay for about £7 less than Amazon, about 30% cheaper. Some people invest in precious metals, but if you sell them you get less than the going purchase price obviously. Owning a house has been good on paper, but the increase is somewhat academic, and I just had huge repair bills (part bad luck, part bad decision). I am not gong down the road of "my cooker is 23 years old, I better get a new one in case it breaks". It might not break. I have a microwave and mini oven anyway, plus flask for pasta cooking. I'll replace it only if it does break. Insulating the house better is one thing I need to consider. But I've done the basics, and it's not easy. I think I could do: heavy curtain in front of front door and something over the glass above, acrylic secondary glazing over my window, maybe new window in lodger's room(s),

[Frnc]

Triggered by inflation.

Pension poverty is what worries me the most. I know I will have to work past Pension age but certainly not in my current job. I am putting as much money aside each month as I can to help. I've cleared debt and am spending some money replacing household items now so that they will last eg bath towels, kitchen equipment.
Still adding to food stores too.

Pension Poverty Absolutely scares me. We were quite comfortable with savings and a modest company pension until inflation shredded the value of our savings and investments. And from pension age there is very little we could do to bolster income as prices soar.
I just secured a few more months part time work, which will fill almost another year of NI towards state pension and will give us a modest boost to savability. But in the scenario of a 30 year retirement, it's a drop in the ocean. A lot can happen to State and company pensions over 30 years of retirement..... Actually, before someone else says it.... A lot can happen over ANY 30 year period.

Watch your last year on NI. I was already on 99%, and it was costing £87 a month, so I sacked it after 3 months, due to current house expenses. It was about a third of the value of a normal year. Normally you take 3 years to recoup a year, but this would have been about 8. I can always but the other 9 months as a lump if things improve here. 99% is near as dammit anyway. Got to resist the ocd.

[jennyjj01]

I just secured a few more months part time work, which will fill almost another year of NI towards state pension and will give us a modest boost to savability.

Watch your last year on NI. I was already on 99%, and it was costing £87 a month, so I sacked it after 3 months, .... It was about a third of the value of a normal year. Normally you take 3 years to recoup a year, but this would have been about 8. I can always but the other 9 months as a lump if things improve here. 99% is near as dammit anyway. Got to resist the ocd.

I'm in the unusual position where I don't earn enough to pay NI, but each week worked counts and I should get 52 qualifying weeks for a qualifying year at zero cost. I only need to get in 2 more years to qualify for ALMOST max pension. A third year of contributions would only add £2 a week, so I'll stop buying years before that. I urge everyone over about 50 to check your State Pension forecast online. It can yield nasty surprises.

I didn't follow your comment on 99% or sacking it off unless you were paying voluntary contributions as a landlord?.

Meanwhile, back to your question on inflation. The Classic answer is to buy equities in businesses that can raise prices to cover their own inflation costs. But those very businesses are often paying high interest on their debts, so the interest rate hikes to reduce inflation are also squashing equity values. Another way of beating inflation is to spend, spend, spend on things that are generally good stores of value. But that's risky. I think buying energy and arms manufacturers might work well in the near term. Yesterday, one of the few equities to rise in value was BAE on arms contracts. I already own some National Grid which should benefit from some increase in funding. BAE is on my watchlist, So is B&M, which is expanding rapidly, though with what sort of debt?

We get squeezed left and right. High inflation is the problem. High interest rates on our mortgages and the debts of our company investments is the secondary pain. The medicine is as bad as the malaise.

I'm watching, today' in dismay as my holding in shares is getting slashed in £££ value while my money in the bank is getting slashed in buying power. A double whammy. Nowhere is an obvious safe store of value. Maybe spend now on home insulation?

Oh hum. Mustn't grumble.

[Frnc]

I just secured a few more months part time work, which will fill almost another year of NI towards state pension and will give us a modest boost to savability.

Watch your last year on NI. I was already on 99%, and it was costing £87 a month, so I sacked it after 3 months, .... It was about a third of the value of a normal year. Normally you take 3 years to recoup a year, but this would have been about 8. I can always but the other 9 months as a lump if things improve here. 99% is near as dammit anyway. Got to resist the ocd.

I'm in the unusual position where I don't earn enough to pay NI, but each week worked counts and I should get 52 qualifying weeks for a qualifying year at zero cost. I only need to get in 2 more years to qualify for ALMOST max pension. A third year of contributions would only add £2 a week, so I'll stop buying years before that. I urge everyone over about 50 to check your State Pension forecast online. It can yield nasty surprises.

I didn't follow your comment on 99% or sacking it off unless you were paying voluntary contributions as a landlord?.

Meanwhile, back to your question on inflation. The Classic answer is to buy equities in businesses that can raise prices to cover their own inflation costs. But those very businesses are often paying high interest on their debts, so the interest rate hikes to reduce inflation are also squashing equity values. Another way of beating inflation is to spend, spend, spend on things that are generally good stores of value. But that's risky. I think buying energy and arms manufacturers might work well in the near term. Yesterday, one of the few equities to rise in value was BAE on arms contracts. I already own some National Grid which should benefit from some increase in funding. BAE is on my watchlist, So is B&M, which is expanding rapidly, though with what sort of debt?

We get squeezed left and right. High inflation is the problem. High interest rates on our mortgages and the debts of our company investments is the secondary pain. The medicine is as bad as the malaise.

I'm watching, today' in dismay as my holding in shares is getting slashed in £££ value while my money in the bank is getting slashed in buying power. A double whammy. Nowhere is an obvious safe store of value. Maybe spend now on home insulation?

Oh hum. Mustn't grumble.

Home insulation is a good one for obvious reasons, depending how much you spend and how old you are.
I was paying voluntary NI to top it up, due to being contracted out for a few years. Good job I found out about it, they never warned me. There are rules and time limits, I think topping up is ending soon, or at least for some years. I see you noticed same as me about the final year.

[diamond lil]

I'm having a posh Edinburgh hair cut. And buying some posh (ahem - DIOR!!) makeup. One must face Armageddon in Dior darling, absolutely!
Gawd I am such a waste of space lol

[jansman]

I'm having a posh Edinburgh hair cut. And buying some posh (ahem - DIOR!!) makeup. One must face Armageddon in Dior darling, absolutely!
Gawd I am such a waste of space lol

Lovin’ it!