Investment

Amazing Update on my pension.
I went to see the pensions people today, we have a self service portal that you have to register to before they will speak to you. I hae registrered with them today and they will send a secret code to my house, I then enter this secret code into the portal and my other details and I will be able to completely make adjustments by making higher contributions, see what my pension stands at now and a whole load of other details. Takes 10 days to receive the secret code but I feel good in actually making the first moves into managing my finances like a pro.
 
It was new to me when I first went Ltd. Long story short - sort of! I ran the training arm of a bigger company. The company I was working for 'suspended' me for dissent - basically constantly arguing with the general manager when he wanted to change my contract, refusing to discuss it as he wanted to put restrictions on my annual leave. I’d been there 15 years. It had contracts with the local authority education department as well as being a working garage/mot station. He was a **** and I told him so on numerous occasions. After a week of suspension, and after talking with Mrs Mottie, I decided I’d had enough working for them so I jacked the job in. I planned to go back to a workshop that we owned and had been renting out, and to continue working as a mechanic. Within a week the training company I previously worked for had the premises repossessed by the landlord as the joint tenant on the premises hadn’t been paying their part of the rent and my lot, being jointly liable, refused to pay their backdated rent. This had been going on for some time, unknown to me but known by my employer. Looking back, I fell into their trap by chucking the job in as they would have had to pay me a fair whack in redundancy. I had always got on well with the lady who ran the Borough education department and they were always pleased with the results I got for their students. Out of the blue, she phoned me up, asked me if I would like to to carry on the good work and if so, they would find me premises to work from and give me all the contracts my old firm had. I had to form a company though as the Borough couldn’t give contracts to individuals. They found me a school that had disused motor vehicle workshops and fitted it out for me. All my workmates at the old place came with me and became my employees. Now comes the ltd company bit. The Borough arranged for a local business manager to help me set up a Ltd company etc which he did, I took his advice and he set the company up there and then as well as registering the company for vat. Fast forward about 18 months when I engaged an accountant. First thing he said was "who the f*** set this company up"? When I told him, said the tosser had done it all wrong and had set me up as a company limited by guarantee, and not by limited by shares and I was chucking thousands away in tax and NI by not being able to take dividends. Furthermore, as an educational business, it was exempt from vat. I couldn’t charge it (which in knew and hadn’t been doing) but crucially, I couldn’t reclaim it which I had been doing for months on tools, equipment, supplies, consumables, phone bills etc etc and I had reclaimed thousands. He advised me to wind it up and keep my fingers crossed which I did and was never asked to repay the vat. He finalised my figures to show equipment to be under the amount that HMRC do not ask for vat reclaiming. He formed another Ltd company for me, this time ltd by shares.

* A little sweetner for me was when I read online that my old company had settled with the landlord by paying £50k to prevent going to court. :mrgreen: :mrgreen: :mrgreen:

Point of my (short :rolleyes:) story being, just make sure you have formed the correct ltd company!
My chartered accountant of 10 years plus set it all up. We’ve only been trading for 4 months, but money is building up already. I’m just totality clueless to what I can and can’t do with the money. There’s a directors loan for around £140k at the moment. We aren’t vat registered yet, and most launderettes seem to stay under vat

I’m just wanting to utilise as much as possible now for my pension. I’ve been lazy planning for when I stop work as I enjoy it. But it’s time to make some decisions

I appreciate your input. Thank you
 
Amazing Update on my pension.
I went to see the pensions people today, we have a self service portal that you have to register to before they will speak to you. I hae registrered with them today and they will send a secret code to my house, I then enter this secret code into the portal and my other details and I will be able to completely make adjustments by making higher contributions, see what my pension stands at now and a whole load of other details. Takes 10 days to receive the secret code but I feel good in actually making the first moves into managing my finances like a pro.
Secret code....

Pppfffttttt
 
Amazing Update on my pension.
I went to see the pensions people today, we have a self service portal that you have to register to before they will speak to you. I hae registrered with them today and they will send a secret code to my house, I then enter this secret code into the portal and my other details and I will be able to completely make adjustments by making higher contributions, see what my pension stands at now and a whole load of other details. Takes 10 days to receive the secret code but I feel good in actually making the first moves into managing my finances like a pro.
Like a pro , does that mean you have the opportunity to decide which funds your pension languishes in and what risk/costs you accept i.e. a bit like mine, its exciting
Screenshot 2026-10-12 210102.png
Screenshot 2026-10-12 210159.png
Screenshot 2026-10-12 210250.png
 
Question for investment guru John D: How do you square your communist beliefs with your dealings in the stock market - the ultimate in 'capitalism'?

(He won't answer. File under Questions Lefties Cannot Answer).
 
Who is the pension provider? Most don’t allow to much fiddling unless it’s a SIPP but you can sometimes pick different funds.
 
Question for investment guru John D: How do you square your communist beliefs with your dealings in the stock market - the ultimate in 'capitalism'?

(He won't answer. File under Questions Lefties Cannot Answer).
Spline is lost in a fog of his own fantasies. He makes no sense.

Question for Spline the racist: As a talking frog, how many flies do you eat per day?

(He won't answer, File under questions Amphibians cannot answer)
 
Question for investment guru John D: How do you square your communist beliefs with your dealings in the stock market - the ultimate in 'capitalism'?

(He won't answer. File under Questions Lefties Cannot Answer).
Consider yourself told.
 
Like a pro , does that mean you have the opportunity to decide which funds your pension languishes in and what risk/costs you accept i.e. a bit like mine, its exciting
View attachment 424133View attachment 424134View attachment 424135
Decent enough graphs. What could possibly go wrong?
Bedtime reading:
Since I started messing with the SM, we're now for the first time at a point where, if everything went wrong, things could combine with vengeance.

We have :
Trump
Possibility of a rapid acceleration of hostilities;
Great hopes for technology - but it's getting to be financed by debt, not money.;
Increasing calls that this technology could be really, really bad. We've had several, sometimes comical outomes. Today someone hacked a shop's freezers and turned them all up. When does someone cry "enough"?;
Suppose it were an air traffic control system , and all the planes got diverted,,,, couple of crashes. They'd have to turn it off. No air transport, people or freight. Huge damage in the West, China takes advantage. Zero confidence in AI.;

That's extreme, but you can dream up several carastophic possibilities.. A drugs lab in China,,,, with a really nasty pathogen?
How far could it drop? Dunno mate . Models have been produced to answer that, without the compounding which could happen if Russia or China took advantage. They predict a drop of between 30 and 80%.
Sobering, innit?
It would take out many financial institutions too. There isn't enough in the FSCS coffers to honour many of those 130k guarantees,
 
Last edited:
Back
Top