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crops

Pensions and the economic future

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I've quit my workplace pension scheme, im not sure if its the wise thing to do and the opinions of normys dont mean alot to me.

Im 30 years old and in the uk , i think its a recent thing when your taken on with a new company your automatically enrolled in a pension scheme where the company contributes a certain fraction of what you contribute , half or something liie that. The money cant be accessed until retirement. Im pessimistic about the economic future of my country , i have no idea what the coming collapse / downturn will look like or what that money will likely be worth in 40 years time , or wether my islamic overlords will allow me to have it.

My idea is cancel that save some in cash and invest in gold and cryptos instead . I remember Cernovich saying once your an idiot if your not saving atleast 10% of each paypacket.

what are you lot doing? am i stupid?

 

 

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Hi @crops

Welcome back (~1 year) to the forum!

This is going to sound strange and maybe a bit 'weaponized' (for normies), though it's a layman's query/assessment :

Is it truthful to ascertain that you have done ZERO research into what the consequences of choosing either would be?

Barnsley

Edited by barn
specific

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1 hour ago, crops said:

what are you lot doing? am i stupid?

Going insane, possibly crazy. Not a pot to p*ss in.

Massive taxes on pensions anyway, and the money gets pressganged into "safe assets". Providing you have a decent pot anyway. Land is fu*king expensive 150,000GBP for an acre with a rundown barn conversion approved, near where my parents live. Property is like over 5 times more expensive than it was 20 years a go.

I guess if you wanted to make some money, get to know the councils, scumbags. Property developers and weapons on the conservative side. Unions and social housing on the other.  Be a slumlandlord, even if you get fined, the fine is less then what you could make. With all the thermal imaging cameras why not throw people out onto, the street enforce the law, in the major cities.

BITCOIN!!! - I don't trust it though. Prefer chunks of metal or fruit.:blink:  

Though in terms of risk adverse activities what can you do?

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18 hours ago, barn said:

Hi @crops

Welcome back (~1 year) to the forum!

This is going to sound strange and maybe a bit 'weaponized' (for normies), though it's a layman's query/assessment :

Is it truthful to ascertain that you have done ZERO research into what the consequences of choosing either would be?

Barnsley

hello Barn.

very little , i tried a google search on the pension schemes and first thing i saw was a guy off of dragons den (tv program) , talking about how great the schemes are , a spokesman for the normies. This is my query efforts.

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19 hours ago, RichardY said:

Going insane, possibly crazy. Not a pot to p*ss in.

Massive taxes on pensions anyway, and the money gets pressganged into "safe assets". Providing you have a decent pot anyway. Land is fu*king expensive 150,000GBP for an acre with a rundown barn conversion approved, near where my parents live. Property is like over 5 times more expensive than it was 20 years a go.

I guess if you wanted to make some money, get to know the councils, scumbags. Property developers and weapons on the conservative side. Unions and social housing on the other.  Be a slumlandlord, even if you get fined, the fine is less then what you could make. With all the thermal imaging cameras why not throw people out onto, the street enforce the law, in the major cities.

BITCOIN!!! - I don't trust it though. Prefer chunks of metal or fruit.:blink:  

Though in terms of risk adverse activities what can you do?

I'd feel more secure with some land and heavy prepping than i would with a promise of a pension in 40 years.

what i took from your post is cryptos and metals. 

 

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44 minutes ago, crops said:

hello Barn.

very little , i tried a google search on the pension schemes and first thing i saw was a guy off of dragons den (tv program) , talking about how great the schemes are , a spokesman for the normies. This is my query efforts.

For a second it didn't click what show you were referring to... haha. I (personally) would be highly skeptical regarding anything that's on TV, 'even the questions'.

Is there any chance you could ask someone (who you know) at least about the pension route? ('skin in the game' and all that... )

As of the crypto, there's quite a few threads, videos on the board/channel (if you understood what the main properties were, that'd be a good start i.e. - What is & why crypto isn't a 'Fiat currency').

Maybe if you had specific (educated) questions, until then I'm hesitant to go any deeper. (it's a touchy subject to give advice on, I think)

Barnsley

p.s. (I'm not an economist or anyone who is greatly knowledgeable about money, trading, gov. regulations)

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20 hours ago, crops said:

I'd feel more secure with some land and heavy prepping than i would with a promise of a pension in 40 years.

what i took from your post is cryptos and metals. 

 

Maybe a good specualtion might be in having another passport if you can. Some flexibility. As I said I don't trust crypto, but plenty of people do (Stefan) and don't (PeterSchiff). There's something called the "crack up boom" in Austrian economics where cash goes into physical assets, the only thing would be later liquidating those assets. I think many people in the Uk don't trust the pension system. Most of my family are/were saver types, though the pensions don't payout what they use to and even if they did, what's the point with taxes.

Flexibilty is important. Keep your options open, as Trump says in his book.

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I liquidated my 401k because it was worthless and bought real investments, like rental property and businesses. Why invest in crypto? It doesn't make you income.

Would you rather have $5,000,000 in gold in a vault collecting dust

OR

$5,000,000 in income producing investments paying you $750,000 per year in income?

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Well, I am not an expert in pensions, but I would have figured out the annual return for it. Like I think with its tax relief its around a 5% yearly return. 

Now, if you can take the money out and get the same or better return, then I think it's better to do so, Having easy liquidity is always a plus. However, you also want to factor in time. Like I think a pension doesnt take much time, but other investments may take a lot of time. So you want to calculate the hours spent to make sure you also account for that.

You can for sure speculate on the economy, I certainly do which is why I have insurance with silver, gold, crypto, and lead. But these are not investments imo, its more like insurance. (tho crypto is more speculation and it obviously brought in crazy returns over the years but tanked recently)

Anyways, investing for me is a full-time job. Its not easy. It sucks people rob us every year which makes it harder, and im talking about inflation because t@xation is not enough for these statists.

You probably want to talk to a financial advisor tho or read financial books if you want to get more situated.

Also, most people don't even think about this stuff at all. So you are way ahead of the curve :) 

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On 5/16/2018 at 5:46 PM, barn said:

 

Is there any chance you could ask someone (who you know) at least about the pension route? ('skin in the game' and all that... )

As of the crypto, there's quite a few threads, videos on the board/channel (if you understood what the main properties were, that'd be a good start i.e. - What is & why crypto isn't a 'Fiat currency').

Maybe if you had specific (educated) questions, until then I'm hesitant to go any deeper. (it's a touchy subject to give advice on, I think)

Barnsley

p.s. (I'm not an economist or anyone who is greatly knowledgeable about money, trading, gov. regulations)

I have some small cryptos and ICO investments allready that ill leave in the hope one day they will rocket to the moon , i understand abit about inflation , fiat currency etc. Its more of what to expect in the future 'crash' that people in these circles often speak off , ill boil down and simplify my concern in a seperate response. As i said , i consider the people that surround me to be the normies , i wouldnt value their advice with regards to the economic future.

On 5/17/2018 at 6:30 PM, smarterthanone said:

I liquidated my 401k because it was worthless and bought real investments, like rental property and businesses. Why invest in crypto? It doesn't make you income.

Would you rather have $5,000,000 in gold in a vault collecting dust

OR

$5,000,000 in income producing investments paying you $750,000 per year in income?

Maybe when/if i have enough money i can make bigger plans.

On 5/18/2018 at 1:43 AM, Boss said:

Well, I am not an expert in pensions, but I would have figured out the annual return for it. Like I think with its tax relief its around a 5% yearly return. 

Now, if you can take the money out and get the same or better return, then I think it's better to do so, Having easy liquidity is always a plus. However, you also want to factor in time. Like I think a pension doesnt take much time, but other investments may take a lot of time. So you want to calculate the hours spent to make sure you also account for that.

You can for sure speculate on the economy, I certainly do which is why I have insurance with silver, gold, crypto, and lead. But these are not investments imo, its more like insurance. (tho crypto is more speculation and it obviously brought in crazy returns over the years but tanked recently)

Anyways, investing for me is a full-time job. Its not easy. It sucks people rob us every year which makes it harder, and im talking about inflation because t@xation is not enough for these statists.

You probably want to talk to a financial advisor tho or read financial books if you want to get more situated.

Also, most people don't even think about this stuff at all. So you are way ahead of the curve :) 

Do you physically hold your metals or have them stored in a far far away vault? I dont have alot of money to stress about , just want to start funneling bits in the right directions where it can atleast hopefully retain its value.

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On 5/17/2018 at 1:31 PM, RichardY said:

Maybe a good specualtion might be in having another passport if you can. Some flexibility. As I said I don't trust crypto, but plenty of people do (Stefan) and don't (PeterSchiff). There's something called the "crack up boom" in Austrian economics where cash goes into physical assets, the only thing would be later liquidating those assets. I think many people in the Uk don't trust the pension system. Most of my family are/were saver types, though the pensions don't payout what they use to and even if they did, what's the point with taxes.

Flexibilty is important. Keep your options open, as Trump says in his book.

what do you mean another passport, dual citizenship. I like the feeling of being minimal and flexible , im pessermistic about the future , economically and socially. I want a plan b exit strategy.

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Im going to boil down my questions and concerns,

What do people expect 'the crash' will look like , just how bad is it going to be? People and commentators in these circles are certain its coming , its just a matter of when. 'That which mathmatically cant continue , wont continue' . Stefan talked about preparing to 'harden our hearts' because theres going to be alot of people that need resources that might come knocking at your door. Are we expecting to be queing up for £100,000 loaf of bread scenario or something like the crash of 2008 (which i as an 18 year old wouldnt have even noticed if it weren't for the news talking about it).

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2 minutes ago, crops said:

Im going to boil down my questions and concerns,

What do people expect 'the crash' will look like , just how bad is it going to be? People and commentators in these circles are certain its coming , its just a matter of when. 'That which mathmatically cant continue , wont continue' . Stefan talked about preparing to 'harden our hearts' because theres going to be alot of people that need resources that might come knocking at your door. Are we expecting to be queing up for £100,000 loaf of bread scenario or something like the crash of 2008 (which i as an 18 year old wouldnt have even noticed if it weren't for the news talking about it).

 

I'm no economist, but i'm thinking something like, say, take your debt, divide by GDP, multiply the price of (almost) everything by the resulting number. Now, take into consideration that jobs will fall apart, since, although spending doesn't boost the economy like everyone likes to say it does, neither does everyone being too poor to buy anything. Basically, you'll have all that debt and everyone having defaulted on their share, everyone will run around trying to "regain" those lost resources. All those pensions, for example, old people want their retirement, so the price of everything they have is going to shoot through the roof, even if the value of what they have doesn't shoot through the roof with it, 'cause they don't want to let go what little they have without getting their retirement plans back. And that's just retirement. Welfare bums, single mothers, bond holders, stock holders, etc. Everyone's going to chomp down, and everything will be a bubble similar to the housing bubble, until governments and/or regular people learn to "let up" and "accept our punishment" and learn that we need to take the loss and pay the debt we've collected when we borrowed against our future.

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2 hours ago, crops said:

I have some small cryptos and ICO investments allready that ill leave in the hope one day they will rocket to the moon , i understand abit about inflation , fiat currency etc. Its more of what to expect in the future 'crash' that people in these circles often speak off , ill boil down and simplify my concern in a seperate response. As i said , i consider the people that surround me to be the normies , i wouldnt value their advice with regards to the economic future. 

I see.

In that case, I would suggest you invested in yourself first. More important than money is your skillset and integration into a support group. Having friends is a good thing. Think about something that you have already some pre-disposition doing for. (Apart from familiarising yourself with basic survival skills, you don't need to be an expert if it isn't what you are into)

Not being completely locked up in a big city and having the option to leave from highly populated areas makes sense too.

Best case scenario, that which has been postponed to fail gets delayed by some more (to 'bite' back even harder) and I (personally) wouldn't take anyone's predictive capability as a golden standard. Not even mine, here. (except for principles that which you should evaluate, adapt, enact for your own good)

Be your true-self, have real-time relationships,

Barnsley

Edited by barn
Good that you ask, stay curious

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8 hours ago, crops said:

Do you physically hold your metals or have them stored in a far far away vault? I dont have alot of money to stress about , just want to start funneling bits in the right directions where it can atleast hopefully retain its value.

4

I do hold some of my metals, I prefer them as combibars. Silver is better as its more divisible imo but having a little gold is good too. Combibars seem great for trade or barter in the case of an economic collapse

Anyways, if you are just starting out I would start small. In the starting stages it's more about learning imo

Top hedge fund managers like Ray Dalio recommends maybe 5-10% of your portfolio in the insurance side of things like Silver/Gold. I personally consider crypto in that category too tho its way more speculative and recently bitcoin / other cryptos lost over 50% of its value. So I would be cautious with crypto if you're trying to retain value. 

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