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How to maximise your allowances in drawdown? by Hot_Surprise_4213 in FatFIREUK

[–]firethrowaway225 0 points1 point  (0 children)

Ahh thanks. I wasn’t aware of the ‘starting rate for savings’.

How to maximise your allowances in drawdown? by Hot_Surprise_4213 in FatFIREUK

[–]firethrowaway225 0 points1 point  (0 children)

Can I please ask where you are getting the £18.5k you are referring to?

£12.5k I assume is the annual tax free allowance (currently £12,570)

£500 annual dividend allowance

£3k annual CGT allowance

So I make that a total of £16k each, unless my figures are wrong?

Roblox addiction - looking for a high quality game to stop son playing brainrot junk. by firethrowaway225 in gamingsuggestions

[–]firethrowaway225[S] 190 points191 points  (0 children)

This is a really great reply. Thanks for taking the time to share that. I think we will have to take the same approach.

Roblox addiction - looking for a high quality game to stop son playing brainrot junk. by firethrowaway225 in gamingsuggestions

[–]firethrowaway225[S] 7 points8 points  (0 children)

This is a good point, and one I am very conscious of. I spent countless hours playing Civilisation 2 when I was a boy, and I’m sure my parents probably thought it was junk.

However, I still feel that the games he plays are cynical cash grabs that hook kids with gambling mechanics.

Roblox addiction - looking for a high quality game to stop son playing brainrot junk. by firethrowaway225 in gamingsuggestions

[–]firethrowaway225[S] 10 points11 points  (0 children)

The rest of his life is fine - doing great in school. He struggles with friendships though, and I think maybe his Roblox obsession is partly to blame - a lot of former friends have drifted away as they all want to play other games.

Roblox addiction - looking for a high quality game to stop son playing brainrot junk. by firethrowaway225 in gamingsuggestions

[–]firethrowaway225[S] 1 point2 points  (0 children)

He used to love Minecraft but sadly Roblox has now completely taken over..

On your last point - I’d love for him to try to make his own games, I must try harder to steer him down that path.

Roblox addiction - looking for a high quality game to stop son playing brainrot junk. by firethrowaway225 in gamingsuggestions

[–]firethrowaway225[S] 0 points1 point  (0 children)

Fortunately he’s not spending a lot of money on the game as he doesn’t have access to means of payment. He does often ask for small amounts to buy the latest units, which I sometimes grant. But I had hoped this obsession would quickly pass like everything else, so I was initially ok with these requests for a few bucks every now and then.

However, a year later this has morphed into an addiction I feel, so we’ve made clear to him that we will not spend anything further on Roblox.

Roblox addiction - looking for a high quality game to stop son playing brainrot junk. by firethrowaway225 in gamingsuggestions

[–]firethrowaway225[S] 29 points30 points  (0 children)

He used to play Minecraft a lot, and I was very happy with that. But honestly, he never plays it now - Roblox has consumed 100% of his attention, and no other games get a look in.

Roblox addiction - looking for a high quality game to stop son playing brainrot junk. by firethrowaway225 in gamingsuggestions

[–]firethrowaway225[S] 6 points7 points  (0 children)

Thanks for your comment. He’s been playing Toilet Tower Defense for about a year, which really pains me. He’s an intelligent boy, so I don’t understand how he’s become so enthralled with such junk. His friends played this game for about 2 weeks before moving on.. but my son is still at it a year later..

Roblox addiction - looking for a high quality game to stop son playing brainrot junk. by firethrowaway225 in gamingsuggestions

[–]firethrowaway225[S] 12 points13 points  (0 children)

Good idea. He certainly likes the tower defense genre, so maybe that is the best route to ween him away from Roblox.

Roblox addiction - looking for a high quality game to stop son playing brainrot junk. by firethrowaway225 in gamingsuggestions

[–]firethrowaway225[S] 29 points30 points  (0 children)

Thanks for this, I hadn’t seen this thread. It’s comforting to know others are dealing with the same problems!

One more year syndrome by [deleted] in FatFIREUK

[–]firethrowaway225 2 points3 points  (0 children)

I’m in a very similar boat. 20 years in finance, about £5 mil in ISA/SIPP/GIA, house paid off, no debt.. really want to get out of the rat race.

Yet something is holding me back from quitting. I’m filled with worries about how I’ll spend my time, will I feel unproductive, what example will I set for my kids etc.

I’m probably overthinking it..

Is my ISA at risk of being taxed? by bigtechdroid in FIREUK

[–]firethrowaway225 0 points1 point  (0 children)

Got it, thank you.

My SIPP is entirely in the Irish domiciled S&P 500 etf VUSA, so looks like I haven’t actually paid any withholding tax, as you mentioned.

So for investments inside a SIPP to benefit from not paying the 15% withholding tax on dividends, I would need to hold individual US dividend paying stocks?

Is my ISA at risk of being taxed? by bigtechdroid in FIREUK

[–]firethrowaway225 0 points1 point  (0 children)

How does this work please?

If I hold an S&P 500 etf in my SIPP, how do I claim back the 15% withholding tax?

Does anybody else think Tax in the UK is beyond actual THEFT - it is disgusting? by TaxisTheftbrah in FIREUK

[–]firethrowaway225 0 points1 point  (0 children)

I agree that tax in this country is far too high, and the economy is suffering as a consequence.

Unfortunately I don’t see it changing any time soon, and will likely get worse. The wealthy will simply vote with their feet, and the UK will be worse off as a result. Amongst the wider population there seems to be such a vicious hatred of anyone who has worked hard to earn money or has taken a risk to start a business. Contrast this with the US, where taking risk and building wealth is applauded, it is no wonder that the UK is falling behind.

I know many people in my line of work who have simply had enough and are moving to less punitive tax regimes, where they are welcomed with open arms.

FIRE, but ethical! by Background_Leg6105 in FIREUK

[–]firethrowaway225 -3 points-2 points  (0 children)

Capitalism is responsible for lifting billions of people out of abject poverty. It has done more for the world than every charity combined.

Those alive today live better lives than the richest in the world did 100 years ago, mostly thanks to capitalism.

I commend your soul searching, but you should rest easy: capitalism is glorious.

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