Silver Monitoring Thread £ (GBP) only.

[Stu]

4 minutes ago, Earthmetal said:

That's a very good point.
I'm rapidly heading towards my mid-fifties, I'm employed, have no debt, and would like to leave work sooner rather than later. A bit late to bother with a SIPP I think? 
I do need to do something though. I was considering re-mortgaging to gain a deposit for a Buy to Let mortgage to rent out.

Don’t discount tax relief in a SIPP/ pension if the gov don’t change things this budget. If you are a higher tax rate payer you can get 40% of contributions covered by this. Up to yearly salary (£60000 salary max)

One strategy which is not without risk is remortgaging, to cover around 3 years of your salary entire pension contributions. You could keep it in low risk investments or cash within SIPP. Use the 25% tax free amount to repay mortgage when retire. Not many investments give an instant 40% lift? 
BTL is looking increasingly dodgy. I would say this budget will be the mail in coffin for this investment. 

[Earthmetal]

22 minutes ago, FriedrichVonHayek said:

If you're in your mid fifties then a Sipp is a good option as you can access it from 55 or 57 from April 2028.

I wouldn't bother with BTL as many landlords are selling up, as the Government is trying regulate them out of business by using EPC ratings, this will leave the way clear for asset managers to take over the sector as they have deep pockets and can comply with the new regulations.

What confuzzles me is why open a pension that I may shut down so soon afterwards?

I'm aware of the BTL landlords getting out, that kind of makes me want in. I've never felt right doing what everyone else does, doing the opposite has mostly worked out well for me. I'd considered that a new or modern house would be one way of tackling EPC.

[Earthmetal]

27 minutes ago, Stu said:

Don’t discount tax relief in a SIPP/ pension if the gov don’t change things this budget. If you are a higher tax rate payer you can get 40% of contributions covered by this. Up to yearly salary (£60000 salary max)

One strategy which is not without risk is remortgaging, to cover around 3 years of your salary entire pension contributions. You could keep it in low risk investments or cash within SIPP. Use the 25% tax free amount to repay mortgage when retire. Not many investments give an instant 40% lift? 
BTL is looking increasingly dodgy. I would say this budget will be the mail in coffin for this investment. 

That's all Greek to me. I'll message you for further chat if you don't mind rather than clutter the silver thread.

[FriedrichVonHayek]

29 minutes ago, Earthmetal said:

What confuzzles me is why open a pension that I may shut down so soon afterwards?

I'm aware of the BTL landlords getting out, that kind of makes me want in. I've never felt right doing what everyone else does, doing the opposite has mostly worked out well for me. I'd considered that a new or modern house would be one way of tackling EPC.

You'll receive tax relief on the Sipp and you aren't far from being the age where you're able to draw it down and take 25% of it tax free.

I honestly can't see the attraction in BTL, the Government doesn't want private landlords, Starmer is WEF to the core so he will make sure that the big WEF backers such as Blackrock will dominate the rental market by regulating the little guy out of business, I think this is what the WEF mean by stakeholder capitalism.

Aside from all that you've got maintenance of the property, voids and possibly nuisance tenants to contend with who may wreck your property.

I have some money invested in social housing through this fund and I know that I won't receive a phone call in the middle of the night from an irate tenant complaining that he wants the boiler fixed.

https://www.dividendmax.com/united-kingdom/london-stock-exchange/real-estate/triple-point-social-housing-reit-plc/dividends

8.6% pa paid quarterly,with tax relief on my Sipp contribution and without the hassle of tenants.

Edited 7 hours ago by FriedrichVonHayek

[Dom]

I don't trust anything anymore, if I can't hold it I don't own it imo. These pensions and ISAs sound tempting but I can't bring myself to invest. Only tangible assets like PMs and property for me. Probably a bit of fear mongering and naivety on my part but I really resonate with the term "if you don't hold it you don't own it!". 

[artalien]

I hope you don't mind but perhaps someone who is more able than myself might consider a sterling silver thread or such. Maybe....dunno. Is it just me or is there an upsurge in interest in silver that is less than 999 fine?

[Earthmetal]

6 minutes ago, artalien said:

I hope you don't mind but perhaps someone who is more able than myself might consider a sterling silver thread or such. Maybe....dunno. Is it just me or is there an upsurge in interest in silver that is less than 999 fine?

I can't answer that, but I do agree the willingness to pay WAY over spot for fine silver whilst at the same time wanting to pay below spot for .925 or lower is rather odd.
I get that lower purities have higher refining costs but the current spread is surely too high. 

[Bratnia]

1 hour ago, Dom said:

I don't trust anything anymore, if I can't hold it I don't own it imo. These pensions and ISAs sound tempting but I can't bring myself to invest. Only tangible assets like PMs and property for me. Probably a bit of fear mongering and naivety on my part but I really resonate with the term "if you don't hold it you don't own it!". 

50/50 Hard US dollar bills/gold has pretty much negated British inflation. Dollar bills never expire, older notes are just removed from circulation by banks as and when they receive them.

Stocks are tangible assets, are businesses with assets/resources. In a few years times stocks will be T+1, have the money in your account the next day. That already is the case in the US. Trading is also moving towards 24/7, some elements already are. Near-as 'instant access'.

A combination of US stocks and gold will tend to be smoother, less risk (volatility), with a degree of inverse correlations so sometimes you may be reducing stocks to buy more ounces of gold and vice-versa. US stock/gold 50/50 has reasonably broadly aligned with US debt expansion. i.e. where money = debt your money has been maintained, and where that money (US stocks/gold) has generally bought more US$ over time (at a faster rate than what inflation erodes the value of dollars).

Reducing to just two thirds in-hand (property/PM's), when the other third can be liquidated relatively quickly, might be more liquid/faster than it might take to gather up and move all of your PM's. As is £ in property, $ in stocks, gold non fiat commodity currency - more diversified. A single big hit to any one is less of a impact upon the whole.

[cjbcomm]

1 hour ago, Earthmetal said:

I can't answer that, but I do agree the willingness to pay WAY over spot for fine silver whilst at the same time wanting to pay below spot for .925 or lower is rather odd.
I get that lower purities have higher refining costs but the current spread is surely too high. 

Sterling is great for stacking I think. Will no doubt hold its value and just as likely to stay that way as pure silver. 

[artalien]

1 hour ago, Dom said:

"if you don't hold it you don't own it!". 

I hear that and strongly suspect it is a big part of the reason I have a wee tube of 64 Kennedy. If it comes to barter me and the missus is toast and the dollars will not help.

Nice to jingle tho 🙂

Edited 3 hours ago by artalien

[FriedrichVonHayek]

1 hour ago, artalien said:

I hope you don't mind but perhaps someone who is more able than myself might consider a sterling silver thread or such. Maybe....dunno. Is it just me or is there an upsurge in interest in silver that is less than 999 fine?

I can understand people who invest in CGT free Silver, however I can't see the point in investing in non CGT free Silver that has high premiums plus VAT, unless you're a collector, which is perfectly fine.

.925 Silver can be easily bought under it's intrinsic value and the same is true with Pre 47.

Silverware and possibly Pre 47 comes under chattels which currently has a £6k tax free allowance.

My strategy is to swap it for CGT free Gold over coming years whilst staying in the tax free allowances when disposing of it.

I suppose it comes down to whether you're an investor or collector.

[FriedrichVonHayek]

To put things into context, you could probably buy a 1kg Silver bar on the forum for say £850.

For £850 I can buy around 1350g of Sterling which is 1248.75g of pure Silver.

This adds up into a sizable amount of extra Silver over time.

 

Edited 3 hours ago by FriedrichVonHayek

[Chronos]

1 hour ago, artalien said:

I hope you don't mind but perhaps someone who is more able than myself might consider a sterling silver thread or such. Maybe....dunno. Is it just me or is there an upsurge in interest in silver that is less than 999 fine?

A couple of months literally no one wanted junk silver, now the cheapest ones are gone ...

[artalien]

24 minutes ago, FriedrichVonHayek said:

For £850 I can buy around 1350g of Sterling which is 1248.75g of pure Silver.

I'm not sure this information should be released yet as I need more Sterling.

 

39 minutes ago, FriedrichVonHayek said:

My strategy is to swap it for CGT free Gold over coming years whilst staying in the tax free allowances when disposing of it.

Brillant!

[Bratnia]

41 minutes ago, FriedrichVonHayek said:

To put things into context, you could probably buy a 1kg Silver bar on the forum for say £850.

For £850 I can buy around 1350g of Sterling which is 1248.75g of pure Silver.

This adds up into a sizable amount of extra Silver over time.

Very much aligns with buying silver in a SIPP ?

[Shinus73]

39 minutes ago, Chronos said:

A couple of months literally no one wanted junk silver, now the cheapest ones are gone ...

I’ve been buying junk silver since 2010. For no particular reason, my coins of choice have been Canada Dollars / Halves, Austria 25 / 50 Schillings, Australia 1966 50 Cents, Netherlands 2.5 Guilders, Italy 500 Lire, South Africa Crowns, UK 1935/37 Crowns.

Prices have fluctuated over the years, but are noticeably higher in recent weeks.

[MancunianStacker]

I’m just putting £50pm in my 7 year old daughter’s SIPP with BestInvest (Evelyn Partners). The Govt put 20% cash into her pot (that I can invest a couple of months later), so she makes a 20% profit (£10) on every £50 I invest for her about 2 months after I invest £50. So that’s £60pm on the way in. Then compound this up for 60 years at 5-10% p.a return. You won’t miss £50pm but it turns into a nice pot (assuming she can take it out at 68-70 when she’s finished work). 55 would be nice but they could change this too and I agree with members not having pensions themselves because the Govt can indeed change the rules whenever they want. However, if they change them too much, nobody will save in any big way into a pension. They could even opt out and cause a really pain for a future government. 

[Dom]

5 minutes ago, MancunianStacker said:

I’m just putting £50pm in my 7 year old daughter’s SIPP with BestInvest (Evelyn Partners). The Govt put 20% cash into her pot (that I can invest a couple of months later), so she makes a 20% profit (£10) on every £50 I invest for her about 2 months after I invest £50. So that’s £60pm on the way in. Then compound this up for 60 years at 5-10% p.a return. You won’t miss £50pm but it turns into a nice pot (assuming she can take it out at 68-70 when she’s finished work). 55 would be nice but they could change this too and I agree with members not having pensions themselves because the Govt can indeed change the rules whenever they want. However, if they change them too much, nobody will save in any big way into a pension. They could even opt out and cause a really pain for a future government. 

Yeah gotta ask why there's all this incentive to put money in ISAs and pensions. The government isn't your friend. I think it's a trap, get everyone putting money into an ISA/pension that they can't access for decades but to sweeten the deal they make it tax free or contribute towards your pot. But something smells fishy, when has a government ever wanted to increase your wealth instead of plunder it. It's like the help to buy scheme, I got 25% extra towards my deposit off the government just for saving in an help to buy ISA but how is it fair that other tax payers contributed to my purchase of a home, it's scandalous to be honest but these are the times in which we live so I took advantage. All it does is push house prices up even more and keep the illusion going that the average Joe thinks they're getting richer because their house price has risen. One big house of cards if you ask me. Stack away folks get more shinnyyyyy! Lol 

[FriedrichVonHayek]

1 hour ago, Bratnia said:

Very much aligns with buying silver in a SIPP ?

I prefer to own physical precious metals although I do have some exposure to the Miners in my Sipp.