What Preps are you doing this week

[Le Mouse]

I hope all goes well for you both with the JSA my son had to sign a month ago he hated it as well, keep your chin up and good luck.

arnieh.

Cheers medears

[jansman]

They prefer you to do it online. Your claim will be dated from the moment you submit the form. Then you will get a text for the interview inside 48 hrs.
Indeed ,it is only a stop gap for most of us.

Tomorrow, I am taking that tree down-free firewood! Then I have a bike to fix and service. Gotta get back on the road and keep fit.

[nickdutch]

Started a low cost SIPP pension because the government wont be able to pay much in the way of benefits when (and if!!!) I retire.

[triffid]

Started a low cost SIPP pension because the government wont be able to pay much in the way of benefits when (and if!!!) I retire.

Firstly it's sensible to make some long term pension saving provision and although I'm not qualified to offer financial advice..... I am very wary of pensions. (full stop). Pensions usually have charges and the tax benefits are under threat. If your SIPP is a workplace scheme where you employer puts in a contribution then (possibly) great. But-
Problem is that successive and more worryingly future governments are always going to 'put their shovel into your store'. A formal pension scheme is (currently) an easy target. Have you used your ISA limit?

An ISA is a ‘wrapper’ designed to go around an investment, to make it more tax-efficient- there are two types:
1) Stocks and shares ISA: this gives you the chance to invest your money in equities, bonds or commercial property without paying personal tax on any returns you might make.
2) Cash ISA: this is like a normal deposit account - except that you pay no tax on the interest you earn.
The ISA limit for 2013/2014 is £11,520. You can invest the full amount into a stocks and shares ISA or you can invest up to £5,760 into a cash ISA and the balance into a stocks and shares ISA. The annual ISA allowance is for every eligible adult and so a husband and wife could put up to £23,040 between them into ISAs this tax year.


read this article:
http://www.telegraph.co.uk/finance/pers ... -save.html


Although I do have a couple of (former) workplace pensions accruing if I have any 'spare' cash I would rather put it into a ISA rather than a pension scheme. I was 'ripped' off by the mortgage endowment industry and since then we've had PPI/Split Cap etc etc scandals and I would no be at all surprised if the financial services industry gets implicated in another pension miss-selling scandal.




But the big benefit of saving for your retirement using a ISA rather than a pension is flexibility. You can access your money with a ISA at any time whereas a pension restricts your access. Suppose in say 5 years you want to buy a house or start a business? You might want to move abroad or heaven forbid you might be taken ill and need money short term. With a ISA you just sell up / close the account and go whereas a pension scheme is for life.



Obviously a cash ISA is the safe but (0.5% base rate ) is unlikely to grow much. A stocks and shares ISA (or pension scheme) offers greater potential returns but at a GREATER risk. DYOR!

[jansman]

Just like you Triffid, I am wary. I too have been ripped off by the endowment industry. Which is why I regard the financial industry as parasites.

[pseudonym]

Put deposit down on some double glazing..... I know


Living life on the edge me

Still it'll hopefully lower my energy bills this coming winter

[jansman]

Double glazing was one of the best things I ever bought. No painting, no draughts and soundproof(ish).You will not regret it.

[diamond lil]

Council put it in for us, and it howls. Sounds like the polar icecap in midwinter. That or bagpipes tuning ...

[preppingsu]

Council put it in for us, and it howls. Sounds like the polar icecap in midwinter. That or bagpipes tuning ...

Our landlady did the front of the house last summer and we saw a huge difference. She has said the back of the house will be done this summer (god bless her!!). It will make a huge difference. All we have to do now is sort our the front and back door as we can see daylight through the cracks in the wood..

[Sheepster]

Been busy tending to all the veg, Grown a lot more kale this year as its a good " cut and come" food. Just seen the first cabbage white butterfly, I hate them more than is rational. Started storing coal for this winter and intend to forage a lot more wood this year. Secured just under 1000 acres for hunting recently, Just waiting for the paperwork(hopefully this week) and then will be busy filling the freezer with bunnys and squirrel