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Every little helps
and a better day today. Hopeful that this will rise now toward FYR's. JJ
Pleasently surprised that my comments have been well accepted.At school back in the late 60/early seventies we did Logs and algebra which i have never understood.How i wish the housing market was explained
Chelwood, " I do believe our kids should be taught about financial services and their workings at school because few have any idea of the future they are walking into".
I couldn't agree more. Maths classes should include sections on good and bad debt plus topics such as mortgage Vs renting, compound interest and APR. I have been home schooling my 15year old during lockdown and working with him but I feel that some of the maths subjects could be replaced with more relevant topics so I have given him some extra guidance. Martin Lewis (MSE) has some good guides for both young and old alike.
hoping for between a 7 and 8p final to be paid in July
PH
Approximately 20% less shares in circulation. Dividend well covered. 2 loss making businesses sold and pension costs lower.
Strong argument for an increase in my opinion. Only question is how long the cost savings take to show on the balance sheet.
As far as I can see, no Div date has been announced for later in 2021, but I would be very interested on thoughts regarding next Div payout and whether I top up now.
In full agreement with teaching children about finance and day to day budgeting. Whilst having dinner when my children were 9&10 I mentioned that I had been promoted, and got a good pay increase, quick as a flash my son wanted to know how much, and suggested that he and his sister might have an increase in their pocket money. They both manage money well, and my daughter after completing Uni at age 20 went on to buy her first flat 2 years later. I have often thought that in retirement that I might contact a local school to offer guidance to pupils in this subject. JJ
Ref your last paragraph Chelwood I fully agree, and also teaching children about general financial responsibility would go a long way too. So, so many young adults who get themselves into a mess with varying kinds of credit etc without fully understanding the implications of it.
Morning
Sorry to hear about the circumstances with your wife.
My own opinion is more than ever we have to look outside the box,so to speak.The days when the wife stayed at home and Dad worked 9 to 5 are long long gone.
I have no issue with pensions but think it is short sighted to think they are the be all.
The pension provider is in business to make money and keep there shareholders happy and myself and others were dissuaded from taking all our money.If everyone did there would be no shareholders and no pension company.
Finally i do believe our kids should be taught about financial services and their workings at school because few have any idea of the future they are walking into.
Chelwood, here is another option for those out there who still have 20 years + to retirement, which my wife and I took, and must say this is specific to us and may not suit everyone. I used to work for British Aircraft Corporation as a Toolmaker, but changed direction and went into Financial Services where I completed 20 years before retiring early. The knowledge gained made me think Pensions would not be the best route for us, albeit we didn't stop them. We bought some Investment Properties (gradually) and held them for on average 12 / 15 years. Over this time span we on average generated £22500 per annum in total profit after paying all Taxes and Maintenance. During this same time span this enabled us to have many Long Haul Holidays around the world finally visiting 68 different countries. My wife became totally disabled and we then sold them, and luckily for us making a total net profit after all costs and capital gains tax of just under £1M .
Moto is, you never know what is going to happen in life, so do what you can whilst you still have your heath, save for the future yes, but enjoy your life along the road to retirement and remember your pension(s) are always going to be subject to Income Tax, including the added Government Pension.
Anyone care to speculate ? Only a month before any dividend announcement.
Will the gap left by Poland and Asia be filled by a good year in revenue and/or not relevant in earnings per share due to the consolidation ?
IMO There is no excuse after such a consolidating fiasco created by the special dividend to show anything other than a resilient dividend per share. Then again, this is Murphy and company.
My strategy regards the Asian sale special dividend hinged on the yield going forward, and the current SP lagging down at 220 was not part of the plan.
An expected 12p/13p plus paid in dividends annually should make for an SP of 240p to 270p, whereupon I could consider top slicing some of my holding.
Chelwood similar thinking to me but I would seriously consider having as much as possible in an isa with good high interest investment trusts or shares, annualties, once bought, are goodnight to money from the family .
@Chelwood Try moneyadviceservice org guaranteed-income-for-life tool
The amount a company will pay you depends on your age and the age of your partner, your post code, your health, and whether you want payments to go up each year by a fixed amount or by inflation.
Morning Sid/Everyone.
If i may i will explain my/wifes position.
Me,in receipt of a pension from Bae systems.Wife receives Tesco pension,also due to retire this Sept.
Rewind to 2014.Wife and i decided to take 25% from our respective company schemes,my wife commenced her one and only pension.I paid the additional tax and took the remainder which we banked in Isas.We imediately commenced new pensions with our companies.The monthly pensions we receive have been used to put £500 each into our respective company SAYE schemes.My wifes Tesco shares which she bought and kept have netted her £8000 special dividend with 13000 shares to sell as and when.Mine should net approx £100000.
The pensions we recommenced in 2014 have again been taken,this time both have paid all taxes and lump sums put in tax free Isas.
We will retire with approx £220000-£240000 in the bank,sheltered from tax.
End result is 2 x state pensions + 1 company pension each will give us £2000 pcm.
Personally I would rather have £220k etc under my roof than a pension fund where the money can go up and down like a sparrow on a dung heap.How much will a company give you per annum for £220k ?
Thanks guys for your replies I shall contacting Tesco pension to find what I can,I know the transfer value has gone up over last two years .
I just feel that the amount of daily cases and deaths in the UK is really high, seeing as we're all supposed to have been in lockdown since Christmas - it was lower compared to our last full lockdown, and I think that was shorter than this one. I just think that the minute businesses start opening up and schools return, cases will start to increase as well.
Hopefully, vaccinations will reduce hospitalisation or serious illness in general. But I'm not very hopeful for the near future where coronavirus is concerned.
Sid, I assume you are in what is termed a 'money purchase' scheme, whereas I'm in a final salary one elsewhere. I left my employer at age 47, and took a pension at age 50. There is a lot to be said for taking the pension now, albeit at a lower rate because no one knows how long they will live. I'm 70 now and its worked out fine for me. They will give a forecast for age 67, but it will be fairly meaningless as its based on standard projections that bare no relation to actual past performance, and who knows what is going to happen in say the next 8 years. Something you might want to ask is, what is the current 'transfer value' ? And this is a figure that you might have had previously, if so compare it. If you delay taking the pension for the time being you can ask for the transfer fig. again in the future. It is a more useful figure because it in effect shows the size of the pot allocated to you and how its growing in value, or not. Hope this helps, not advice just my thoughts. JJ
Lurk
''whilst I think future lockdowns are inevitable''
Why are they inevitable?
Yes, Tesco were plugging a hole, not enhancing.
Pensions, whilst necessary to provide some funds, for the general population they will provide a pittance on retirement.
Each time the stock market takes a hit, the pension companies throw the baby out with the bathwater and then chase as higher prices.
Your 15 years period covered the 2008 crash, covid crash and a drying up of dividends which many pension companies depend on for income.
Do the pension companies really care?
The answer is no, if markets rise they shims of the profits and add a paltry actuarial release to the plans. If the markets fall or crash they cut the valuations, the assumptions and the forecasts.
THEY STILL GET THEIR COMMISSIONS AND FEES THOUGH and the world goes on turning.
They are drowning in cash from automatic pensions contributions from employees just waiting to be allocated until they lose your money.
Add up what you and your employer have contributed. Look at the forecast retirement payout compared to your valuation and think how many years will it take to get your contrubions back.
And in many cases, the pension companies have been making high returns on your investments for maybe up to 40 years before they pay out a nominal amount.
I started taking mine out at 55 as I felt that the full capital in the bank, less the tax charge would at 2% interest give me more untouched than leaving it within the pension to pay out less in 10 years +. That is if they had not messed it up in that time. In the end, I invested well and have returns in excess of the pension conpanies offer.
Each person should make their own decision, but many die before getting back a decent portion of their own contributions.
The only winner is the pension company, who give you scraps.
GLA.
Lurker, I am in agreement with your analysis of Tesco and think that this could be a great long term investment. I certainly can't see the SP dropping any lower and can only really see positives here.
Isn't the £2.5bn to be used to reduce the pension deficit not to enhance pensions.
but....2.5 Billion of the sale of businesses in Thailand and Malaysia went into the Pension fund to bolster it. Now not being a pension expert but a ex employee with 15 years hard labour, I mean service, I from time to time look into what my Pension is worth and when I can take it etc etc , , now 2018 I had a estimated forecast of £4,300 per year at age 67, this year I have a forcast of £3,500 if I take it this year,age 59 Questions : Why havent I had a full forcast till 67 years? Yes I will be asking them this, second question is.as the 2.5 billion was there to bolster our pension is there any likelyhood of our pension forecasts improving? I just wonder if anyone was thing o taking their Pension would they benefit from waiting till the 2.5 billion has had time to make an impact? or dont Pension work that way? I will ask tyhe Pension people this too if I get to some one who knows! Some body here might have a idea what happens.....
Hi Jimjam. Admittedly, Tesco did have their fingers in lots of pies at their prime - and they have found out the hard way that they don't have the midas touch with everything; such as the bank, their nutrition centre and Deck's Café chain to name a few things of memory that I think have all gone to the wall since they bought them.
Last year, Tesco said how they're going to pressure suppliers to provide better deals and they've sold their mortgage book too, so there's two things that will help towards future profitability. And whilst I think future lockdowns are inevitable, the hospitality sector may have need of their Bookers side of the business until that time comes. Just my opinion on where things stand for this next year, but who knows what else might be up the BoD's sleeves?
Lurker, I would get rid of the bank-it was created when TSCO thought they could do nowt wrong. They should focus on being a profitable supermarket, which is how I see the bod are acting/thinking IMO. FYR's are going to be very interesting giving as they will a good idea of how TSCO will fare as we come out of the 'final' lockdown. JJ