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Posts: 883
Millions of pensioners set to benefit from 8.5 percent increase to the State Pension today
In one of the largest ever cash increase will mean pensioners will receive an extra £900 a year on the full rate of the new State Pension
Universal Credit and other working-age benefits to see a 6.7 percent rise, while Government slashes National Insurance to help make work pay
Comes as the Government has provided support worth an average £3,800 support households between 2022-25
The State Pension is increasing by 8.5 percent today as part of the Government’s commitment to support pensioners in retirement.
It comes on the heels of the highest ever cash increase to State Pension in history of 10.1 percent last year, plus a package of support for pensioners this winter worth nearly £5 billion.
Posts: 883
My previous post of 3 years and 4 months ago:
17 Dec 2021 14:31
TRD were 27P : 13 months ago, now £1.25P : and we’re just 5P : ,6 years ago.
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This week Triad Group PlC shares closed at £2.50P
Dividends paid over the time span have produced extra hansom returns.
At this juncture, i would refer any investor or potential investor to read the last trading update from Triad Group Plc.
Posts: 883
On average, the FTSE 100 has outperformed inflation. Over the last 119 years, UK stocks have made annualised returns of +4.9% over and above inflation. Therefore, if you think inflation will be 2.5% on an ongoing basis, you might expect your long-term returns to be around 7.5%.
If one compounds £1,000 pounds at 4.9% over 50 years you will get back just £11,000 above inflation.
Grow your pension at my target of 20% compound and this is the result .
£9.1M pounds .
Hence i personally believe today’s pensions savings plans. are not fit for purpose. They require huge sums to be paid in over a lifetime in return for rubbish returns.
A far better solution : ( that worked for me ).
A small lump sum invested on day one , targeting 20% compound for life. No more payments into the plan after the initial single, one off payment
Posts: 883
Daily Express
Women are six times more likely to put their money into savings - than to invest it
It comes as a fifth of women believe investing is only for men - although over three-quarters are keen to learn more about how to start investing.
By SARAH LUMLEY
10:28, Mon, Apr 15, 2024 | UPDATED: 10:28, Mon, Apr 15, 2024
Posts: 883
Almost half a million pension pots were emptied when they were accessed for the first time during the 2022-23 tax year, figures show.
Savers took a record £5.3bn in cash, paying income tax of three quarters of what they withdrew, to cover rising mortgage bills, according to the Financial Conduct Authority.
Of the 420,727 pots taken in full, the average was around £12,500, but tens of thousands took pots worth more than £30,000, the Financial Conduct Authority said. This was up from around 395,000 the prior year.
The most common age group for those making total withdrawals was 55- to 64-year-olds, who have not yet reached state pension age, with 294,694 pots accessed. It was three times those accessed by the next age group, 65- to 74-year-olds, at 114,601
Posts: 883
Early retirement is a specific life goal for 65% of working-age adults around the world, with 70% of Gen Z employees (the highest proportion of any generation) actively working towards this aspirational goal. This compares to just 51% of the over 55s.
The findings appear in a new study* into the financial wellbeing of 11,577 working-age adults from 17 countries around the world.
The results highlight a significant geographical disparity between employees’ approach to early retirement, with 72% of working Americans citing early retirement as a specific life goal, compared to just 40% of French employees. Only 26% of respondents from Japan specify they have this life goal.
Planning for early retirement
Despite the desire for early retirement in some regions and age demographics, when asked in which ways money is important, only 30% of all respondents cited saving for retirement as being important. And this figure drops to just 18% for 16–24-year-olds. This shows that perhaps there is a disconnect between the idealistic notion of early retirement, versus the reality of prioritising saving for it.
Across the globe, 69% of respondents say they have a general financial plan in place to achieve their goals, yet 42% admit this is only an ‘informal’ plan that spans three years or less. However, 70% of Gen Z respondents say they have a general financial plan in place, compared to just 60% of 45–54-year-olds.
Posts: 883
HL doing its best to scare the pants of uk pension savers.
Another way is to do what i have done and make a single payment small lump sum, and purchase one or two tiny super growth stocks. Let the market do the work for you and never pay a monthly sub into the pension.
Financial experts at Hargeaves Landown advise 22-year-olds who are starting to save for their pension for the first time to put away £282.89 into their pension pot each month in order to reach the £200,000 figure by the time they're 66 - the current state pension age. This assumes your contributions stay the same throughout your working life.
By the time you reach 32, your pension savings should be sat at around £35,322. Again, this assumes your pension investments grow by 5 per cent each year. After another ten years, at the age of 42, your pension pot would then be worth £74,626 and by 52, the pot should have grown to £120,216. Finally, with your contributions remaining the same and your pot growing by 5%, your pot should be sitting pretty at £174,866 by the time you're 62.
With the state pension age at 66 - rising to 67 between 2026 and 2028 - you will have another four or five years to grow your pot even further and hit the £200,000 mark before you retire. Hargreaves Lansdown says the earlier you start saving for your pension, the better, as those who start saving later in life will have to pay higher monthly contributions to reach the target.
According to Hargreaves Lansdown's figures, if you don't start until you're 32, then you'll need to put in £402 a month to build the same pension pot. If you leave it until you're 42, your contributions would need to be £615 a month, or £1,122 month if you only start contributing at 52 - just 14 years away from the retirement age of 66.
Posts: 883
Now Standard Life are playing the same dirty trick , trying to get workers to save yet more each month for their future pension. ( that increases their profits ).
This would not be required if standard life managers produced returns of 20% compound a year. Private equity companies can achieve it, i can achieve it . So why can”t the pension industry .?
Rob White
24 April 2024 • 6:00am
11
Private sector workers and their employers must put more money into their pensions to stave off a retirement catastrophe, ministers have been warned.
Minimum pension contribution rates need to rise immediately, from 5pc for employees and 3pc for employers to 6pc for both groups, because millions of people are not paying in enough, according to a new report.
Pensions and savings firm Standard Life, which published the report with consultants WPI Economics, said if the Government doesn’t act swiftly, the current level of contributions could lead to an increase in pensioner poverty and people running out of money in retirement.
Posts: 883
The Sunday Times is calling for the Government to increase the minimum amount employers contribute to workers pensions, from 3% to 5%.
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How stupid is that ?
It just adds to the cost of dong business.
The pension industry needs to increase the average returns from 7% a year on average towards 20%. Those pension managers that do perform should be sacked .
Then pension contributions could be cut for both for the boss, and his workers .
Posts: 883
A couple of typo errors in my last post :
Sorry
Posts: 883
https://www.kiplinger.com/investing/stocks/603777/30-best-stocks-of-the-past-30-years
Think of it this way: A microcap penny stock that grows into a small-cap stock after delivering a 10,000% price increase rewards anyone lucky enough to have bet on that name – but it adds very little to equity investors' overall collective wealth. It doesn't drive the major indexes higher, fill the coffers of pension funds or enrich anyone beyond a comparatively small number of traders and investors involved in the stock.
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As an investor you want to be in that very small group who research and buy that penny stock that grows 10,000% or 100 fold. To be clear it’s wrong to quote penny stocks,( as the shares could start at £1.00 or more) . One needs to invest in very low market cap stocks, the share price itself, does not need to be in the penny range. Then let growth in revenues and profits do all the work for you.