Spending money ?.

[Minky]

6 hours ago, TOPGUN749 said:

In England they take everything until you have £23,000 left,that includes selling any house etc unless another person lives in it.In Wales they let each person keep £50,000.

I don't know the nity grity.... it's not my  business but her son lives in the house and as far as I know he has residency proof going right back to whenever.  But they have cleared her bank accounts,   investments,  ISA's, 3verything.  right down to zero. One account has been taken down to the 23,000.  They take her pension.  To me it is kind of like being in a prison where you are controlled and robed.  AND there is nothing that you as an individual can do about it. 

[TOPGUN749]

6 hours ago, Minky said:

I don't know the nity grity.... it's not my  business but her son lives in the house and as far as I know he has residency proof going right back to whenever.  But they have cleared her bank accounts,   investments,  ISA's, 3verything.  right down to zero. One account has been taken down to the 23,000.  They take her pension.  To me it is kind of like being in a prison where you are controlled and robed.  AND there is nothing that you as an individual can do about it. 

Yes,it’s wrong,and very sad that this happens when someone has assets,I believe Scotland has a different system.If someone invests in antiques,art,gold,etc,no matter how much it’s worth they can’t take it but cash,property they will.The thresholds are far too low as is the inheritance tax threshold. Elderly people should be allowed to keep at least up to £300,000 to leave in their wills.

[Wilts#Dave]

40 minutes ago, TOPGUN749 said:

Yes,it’s wrong,and very sad that this happens when someone has assets,I believe Scotland has a different system.If someone invests in antiques,art,gold,etc,no matter how much it’s worth they can’t take it but cash,property they will.The thresholds are far too low as is the inheritance tax threshold. Elderly people should be allowed to keep at least up to £300,000 to leave in their wills.

This, absolutely. 

[udderlyoffroad]

On 08/07/2023 at 23:59, Lloyd90 said:

I thought they’re the type that comes to find you 🤪

You're conflating a Bernese Mountain Dog with a St Bernard.

I'll get me coat.

Back to the OP's point: I find the older I get, the less I want to talk money with other people, friends or otherwise.  The demographic on this forum tends towards the boomer, retired type, so most people on here have it figured out anyway, and can probably all but empty their bank account and still live the same lifestyle until they pass on to the next life.

 

[scouser]

Spend it, there’s no pockets in a coffin ⚰️ 

[Daz45]

On 08/07/2023 at 11:02, samboy said:

Hi gang.

              Whenever i say to my pals i'm going to buy a new gun, bino's, watch etc they say why. You already have enough gear.

              It seems not only do they not like spending their own money they don't seem to like me spending mine.

               I'm an old boy now with everything paid for so why shouldn't i enjoy buying a few things that i fancy. 

              No good dying and leaving it all. Any views on this ?.

                                                                                     Thanks all.

               

My sentients exactly, ive just bought a nice gun in my late seventies and sod it, its paid for and its mine.

[scolopax]

Never really understood those who constantly chop and change the expensive stuff. It’s nice to have nice things, treat ourselves occasionally and buy something of real quality which will improve success  rates or enjoyment. But just bouncing from one shiney thing to another, never understood it.    I had a colleagues who had made a small fortune on stocks way back when, he bought a new BMW every year eaxcept for a brief dalliance with range rovers, I could never understand it, he lost a load of money in depreciation every year, all for the sake of have a new (expensive) car on the drive. But it was his money to spend as unwisely as he wanted.

[JohnfromUK]

11 minutes ago, scolopax said:

I had a colleagues who had made a small fortune on stocks way back when, he bought a new BMW every year eaxcept for a brief dalliance with range rovers, I could never understand it, he lost a load of money in depreciation every year, all for the sake of have a new (expensive) car on the drive.

Reminds me of someone I knew who had a (successful) business and had a new 'high end' BMW every year or three.  he happened to have an exceptionally good year and was persuaded to buy a Rolls Royce (this was around 1976, so a Silver Shadow).  I lost touch with him for a number of years and happened to meet again many years later - and he was still driving the same RR.  He joked that if you had a BMW/Mercedes/Jaguar - it had to be the latest model ..... but once you had a Rolls Royce - the age didn't matter.  He also said that it was slow, thirsty and yet so relaxed and comfortable and still 100% reliable, so he just liked it, a bit like a favourite old coat!

[Mice!]

On 08/07/2023 at 18:52, team tractor said:

don’t have a credit card but I’m thinking of getting one as we have them for work . It’s insured so don’t rule one out. Faulty goods , money theft etc is covered . 

So long as you pay it off each month a credit card is no different to spending money, except like you said your covered when you buy items, plus you can get other perks and benefits. 

[Fargo]

5 hours ago, Mice! said:

So long as you pay it off each month a credit card is no different to spending money, except like you said your covered when you buy items, plus you can get other perks and benefits. 

Credit cards are very useful and good idea to live off one if you are sensible and pay it off. Increases credit score, purchases protected and get perks like air miles or various freebies or discounted