****ty life

[King Billy]

Just reported pete.. careful as I won't hesitate to do the same to you.

I'm well aware of that.
It's your usual resort when in an embarrassing corner.

 

[motorbiking]

The amount he can move into a pension is limited. It's possible his annual taxable earning are less. For most ordinary people, the max contribution is your taxable earnings in that tax year. Basic tax will be rebated into the pension fund. If you have low, or no, taxable earnings, you can contribute up to £2880 per year (which will receive basic tax rebate and be grossed up to £3600 in the pension, even if you did not pay tax. This is a special concessions to low earners enabling them to build up a modest pension.

Tax on your private pension contributions

Tax you pay and tax relief you get on contributions to your private pension - annual allowance, lifetime allowance, apply for individual protection

www.gov.uk

Yes if he is on minimum wage and part time, he is capped at 100% of his income, but if he was in a workplace scheme he may have the ability to carry forward unused allowances. Either way he can achieve the goal over a relatively short period.

 

[Harry Bloomfield]

There are different grades of bond, with government stock at the safe end, down to "Junk bonds", which pay more unless there are a lot of defaults. Since the '08 crash, lending rules have tightened up a hell of a lot, so they're much safer.

I have a little more than doubled my investment, with a bond, in 12 years.

 

[motorbiking]

Thank you. I have a meeting later with the council regarding the flat.....if all goes ok, I could be moving in by this Friday. I would need to do some decorating etc first...

I won't look at investing as I haven't a clue about it all. I would hate to lose any money invested. I guess you have to be in a position where you accept that you may lose. I wouldn't be happy with that.

don't do it then.. you have to accept a bit of up and down with any investments..

 

[Harry Bloomfield]

Oh yeah, but what if I ended up in the wild west and ran out of fuel?

Lightning, and a clock tower?