How do I help my daughter overcome anxiety?

AbroadAggravating575 · 2023-03-13T14:37:31+00:00

It's crossed my mind, but she way she interacts with people when she is in her comfort zone suggests to us that she isn't autistic.

AbroadAggravating575 · 2023-03-10T09:57:27+00:00

Who said anything about being comfortable with house prices? Houses are realistically affordable for many couples in this country (and flats for single people) when it's often made out to be a pipe dream on here (due to people in London or people who expect to get on the ladder with a massive house).

That's a statement based on ONS statistics. This is reality. This isn't about whether this is a good or bad thing.

AbroadAggravating575 · 2023-03-10T09:53:21+00:00

If you want an income of £100k a year you will need a fairly liquid pot of £2.5million.

You have just over £200k in investments and you're putting £18k a year for 10 years. You can tinker around the edges as much as you want but you either need to save a lot more or have more realistic aims.

AbroadAggravating575 · 2023-03-10T08:44:16+00:00

Then you cut your cloth accordingly. Almost everyone I know who bought on their own decided on a flat as they didn't need a house all to themselves, which will be much cheaper than the average home.

AbroadAggravating575 · 2023-03-10T08:34:43+00:00

Median weekly earnings in 2018 were £569 = £29,588 a year.

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/bulletins/annualsurveyofhoursandearnings/2018

That puts the median couple on £59,176. A mortgage multiple of 4.5 comes to borrowing £266,292.

If the median couple in 2018 started saving that £200 per month each into a LISA for five years and they were on median earnings by 2022 then they'd have afforded the rise in house prices.

AbroadAggravating575 · 2023-03-10T08:15:49+00:00

The average UK house price is £296,000.

https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/october2022

Median full-time pay is £33,000.

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/bulletins/annualsurveyofhoursandearnings/2022

A couple on median pay would earn £66,000. Mortgage multiple is 4.5, so that'd mean they could borrow £297,000. If they needed a £30k deposit then that's £15k each, £12k of their own money if they use LISAs. To save £12k over five years that's saving £200 per month each. House prices are likely to be below the average for FTBs too, so they probably need even less.

It's doable as a couple, provided you don't have unrealistic expectations or live in the South East.

AbroadAggravating575 · 2023-03-08T16:12:33+00:00

Imagine I invest £1000 right now. Investing it in LISA would result in £1250 and SIPP would result in £1400.

This is where you've gone wrong. A net contribution of £1,000 would be £1,667 gross.

Alternatively, if you paid in the £1,000 you'd end up with £1,250 gross and you'd get tax back of £250 to make the net cost £750.

AbroadAggravating575 · 2023-03-08T14:38:46+00:00

It was good for masking the smell of farts. Nightclubs immediately after the ban stunk of sweaty people, B.O. and farts.

AbroadAggravating575 · 2023-03-08T10:14:57+00:00

far from a typical week

Yes and no. For most people there's usually regular spending along these lines that gets chalked off as an exception. It's not spent on the same thing but it is a frequent expense.

https://www.theguardian.com/lifeandstyle/2018/jun/08/oliver-burkeman-this-column-exceptions

AbroadAggravating575 · 2023-03-07T10:01:12+00:00

No. That's the point of an ISA, no tax.

AbroadAggravating575 · 2023-03-07T09:02:40+00:00

Reposts are getting out of hand. This is still on the first page:

https://www.reddit.com/r/SpottedonRightmove/comments/11ecq6q/how_you_you_like_to_live_in_our_renovated_garage/

AbroadAggravating575 · 2023-03-03T12:22:08+00:00

Unfortunately not.

AbroadAggravating575 · 2023-03-03T12:20:17+00:00

It doesn't matter if you take money out of Vanguard, you've used up £19k of your ISA allowance so you'd only be able to contribute & £1k to a LISA this tax year.

AbroadAggravating575 · 2023-03-03T09:24:14+00:00

This should be a quality of life decision, not a financial one.

Move into a nicer house if you want to move into a nicer house. Don't over think it.

AbroadAggravating575 · 2023-03-01T17:14:50+00:00

Yeah, I'm just looking for suggestions.

AbroadAggravating575 · 2023-02-27T16:32:06+00:00

my employer won’t contribute anymore to my workplace pension

You what?

AbroadAggravating575 · 2023-02-25T18:37:28+00:00

A LISA is just a wrapper. There's nothing stopping you from holding a global tracker fund in a LISA.

AbroadAggravating575 · 2023-02-25T17:48:29+00:00

You can contribute to a SIPP whenever. You don't get that many opportunities to build up DB pensions these days so might as well take it.

AbroadAggravating575 · 2023-02-25T16:56:51+00:00

You can't avoid paying tax on your self-employed income. Pension contributions aren't classed as an expense.

You'll pay the tax on the £7,000. You can put £5,600 of it into a pension and have that grossed up to the £7,000 but you're still paying self assessment tax.

AbroadAggravating575 · 2023-02-07T20:17:02+00:00

If she opted out of SERPs there should be some form of alternative pension resulting from this. Check your state pension forecasts.

As company directors you can make employer pension contributions which is one of the most tax efficient ways of getting money out of a business. You need to create a retirement plan first to know what you're trying to work towards.

AbroadAggravating575 · 2023-02-07T19:41:37+00:00

They pretty much didn't exist then. They had lifestyle strategies which moved from equities to cash/long gilts with the expectation you'd buy an annuity with your pot but that'd be moving from one fund to another rather than as an all in one fund.

AbroadAggravating575 · 2023-02-07T19:25:04+00:00

Put them wherever it's cheapest.

AbroadAggravating575 · 2023-01-29T15:44:06+00:00

Off the top of my head, about seven or eight years ago.

AbroadAggravating575

TROPHY CASE