Early Retirement Pitfalls, Requirements etc Your opinions

[Sparky]

Same here!  Yes, your wife; I retired before you.

[Chillidoggy]

57 minutes ago, Sparky said:

Same here!  Yes, your wife; I retired before you.

In your case it allowed you to spend more quality time with the MIL.

[Sparky]

This is why I drink.

[Bibs]

And skateboard...

[Sparky]

Tracy banned me from skateboards many years ago following an unfortunate incident 

[C8RKH]

1 hour ago, Sparky said:

Tracy banned me from skateboards many years ago following an unfortunate incident 

Yes but I bet she still let's you swing on the chandelier!

[Chillidoggy]

These days, he just leaves skateboards on the stairs. 

[Sparky]

Success rate has been surprisingly high.

[Kimbers]

So Wendys Dad had dementia for many years. We found out, when he passed that he had taken out an annuity just a few years ago aged around 75. This was all his worldly money being from his Navy pension and personal pension combined. 

Now, firstly he really wasn't 100% mentally. Secondly he was given very bad advice as his annuity pays out around £200 a month for his £60,000. 

He had early dementia, he had had 2 heart attacks and was already frail and in assisted living. 

You do the math. Is it 25 years before he even gets his investment back? 100 years old when he had a life expectancy of 5 (actually lasted 7).

A lawyer has already taken on the case 

[C8RKH]

Happens all too frequently. The question has to be who advised him as there are so many "checks" that should be carried out etc.

Hope you get a positive outcome.

[Kimbers]

Quick Question.

If you invest in things like Gold and Silver, when you come to sell it do you have to claim the whole amount as income or do you just pay tax on the difference in price from buying it to selling it?

 

[Kevin Wheeler]

4 minutes ago, Kimbers said:

pay tax on the difference in price from buying it to selling it?

 

This.

[Sparky]

And a small allowance for expenses, naturally!

[ChrisJ]

Bullion coins are both VAT & GCT exempt as they are legal tender.

All That Investors Need to Know About Gold and Tax | The Royal Mint

 

[Bazza 907]

1 hour ago, ChrisJ said:

Bullion coins are both VAT & GCT exempt as they are legal tender.

All That Investors Need to Know About Gold and Tax | The Royal Mint

 

CGT exempt too..

[ChrisJ]

that as well

 

[Kimbers]

Though with Gold prices as they are it sure is difficult to buy any coins at reasonable prices!!

When i started buying Silver Britannia's in 2015 they were £20 (even got a couple in auction for £16). Silver was at £0.27gm then. Now its just hot £0.60....and thats for scrap! up from £0.50 just 6 months ago!