Inflation?

[Serial_Apologist]

The hidden clue is there somewhere in my post, ahinton ...





Ahinton, believe me, the last person I would choose to consult on anything connected with my money (never mind the current minefield that is Pensions, State or Private), is an 'independent' financial 'advisor' ... whatever he/she 'advised', almost certainly I would have little pension left at the end.

Being in a situation much the same as yours, I might be persuaded to go to an "independent financial adviser", (as in "improviser") were he or she to advertise himself or herself as such, but how would one know whom to trust? By going first to an independent financial adviser??

[ahinton]

The hidden clue is there somewhere in my post, ahinton

Er - no...

Ahinton, believe me, the last person I would choose to consult on anything connected with my money (never mind the current minefield that is Pensions, State or Private), is an 'independent' financial 'advisor' ... whatever he/she 'advised', almost certainly I would have little pension left at the end

Again, why? No adviser could in any case reduce a pension that you're already receiving! Clearly you'd prefer to consult no one or rmain ignorant and confused; your call, I guess...

[P. G. Tipps]

I'm genuinely staggered that some members who (maybe understandably) are so cynical of much of today's capitalist society are now apparently falling over themselves to defend and even recommend 'Independent Financial Advisors'!

Those members who have had real experience in any ruthless, cut-throat business world will know exactly what I'm saying.

No, Mr GG, I wouldn't get a postman to re-wire my house, in such a case I'd get an electrician to do that job, and a plumber to repair a burst pipe. I'd expect a postman to deliver my letters. In the huge majority of cases I will get what I pay for.

The main difference between those and an 'Independent Financial Advisor' is that, in the case of the latter, you are just as likely to end up with the equivalent of an electrical fire burning your house down, a flooded home, or no letters delivered at all!

[Dave2002]

Er - no...


Again, why? No adviser could in any case reduce a pension tht you're already receiving! Clearly you'd prefer to consult no one or rmain ignorant and confused; your call, I guess...

I'm with PGT on this one. There are some financial advisers who will lose all "your" money and and then come back for their fee! Most are not that bad, or unscrupulous, but there are people or organisations out there who/which really just don't care.

[MrGongGong]

The main difference between those and an 'Independent Financial Advisor' is that, in the case of the latter, you are just as likely to end up with the equivalent of an electrical fire burning your house down, a flooded home, or no letters delivered at all!

Nope
I think the main difference is that you seem to be well able to get recommendations from people who have past experience if you need a plumber, atonal composer, surgeon or mechanic but seem to think that money is some kind of special area where you have to close your eyes and stick a pin in a list of people who say they know.

I think the "problem" is you and your inability to ask the right questions.

[french frank]

Why not find and trust people who know stuff?

Because even the best of them (it seems) would admit that they don't have crystal balls and make mistakes. I 'ad a financial adviser once. One of their suggested funds went bust and another one ended at the bottom of their 'league' (whatever it's called). My own most successful decision wasn't a decision at all: I clicked on the wrong button and when I explained what I'd done I was told, No, I couldn't change it. Just as well .

I don't need a tax accountant any more

[MrGongGong]

Because even the best of them (it seems) would admit that they don't have crystal balls and make mistakes. I 'ad a financial adviser once. One of their suggested funds went bust and another one ended at the bottom of their 'league' (whatever it's called). My own most successful decision wasn't a decision at all: I clicked on the wrong button and when I explained what I'd done I was told, No, I couldn't change it. Just as well .

I don't need a tax accountant any more

Oh you mean for people who have more than enough money and don't know what to do with it?
Germain Greer had the answer to that "fuck pensions, buy art"

Interesting how one bad experience puts you off everyone though.
I heard a terrible violinist last week, never going to make that mistake again, it's electric guitars all the way, you never get bad playing with those

[pastoralguy]

...and, of course, there's the many low-paid folk at BHS where the loss of their jobs is not the only worry for the future.


Look on the bright side. Sir Phillip Green has just taken delivery of his third yacht...

Perhaps he'll use the other two to take his ex-employees on a trip to the South of France...

[gradus]

After 20 years of baffling impenetrable cobblers from a succession of investment 'experts' a friend found that a large part of her pension pot had wound up invested - entirely without her knowing what was going on - in an offshore fund devoted to a teak plantation, apparently because of severe losses in a UK investment which her 'expert' tried to cover by placing her funds overseas. It took her most recent 'expert' about 4 months to find out where her money had gone - at one point it seemed to have disappeared completely - and to get a rough estimate of the value of the investment and when it might be retrievable. All of this happened whilst being looked after by high-charging reputable investment 'experts'. It remains to be seen when and if she ever gets her money back.
There's a lot to be said for Granny Bonds, Index-Linked Isas, Index-Linked Savings Certs and if you can afford it, property. Final salary pensions RIP.

[MrGongGong]

I went to a restaurant once
The food was awful
I won't be making that mistake again

[P. G. Tipps]

Nope
I think the main difference is that you seem to be well able to get recommendations from people who have past experience if you need a plumber, atonal composer, surgeon or mechanic but seem to think that money is some kind of special area where you have to close your eyes and stick a pin in a list of people who say they know.

Oh, Mr GG. I don't stick pins in anything and my eyes are wide open when it comes to filthy lucre. As for my money I simply explore all possibilities and then come to a decision. There are no guarantees in life especially when it comes to financial investments. 'Independent Financial Advisors' can get it hopelessly wrong just like anyone else. Many of the so-called aforementioned also have hidden (and sometimes not-so-hidden) connections with large financial institutions.

I don't mind being proved wrong with my own money. However, I'd never forgive myself for being so naive as to put my own money in the hands of others whose only real concern and ultimate goal is simply to attain a hefty slice of it!

I think the "problem" is you and your inability to ask the right questions.

.
The 'questions', whether right or wrong, are all yours and not mine.

I don't have a "problem" at all with my own money, it's you (and others) who suddenly seem to have a surprising and quite unexpected "problem" with my own money!

[MrGongGong]

There are no guarantees in life especially when it comes to financial investments.

Is absolutely true
Getting more money because you have money seems rather bizarre (YES I know how it works )

SO why do folks get so offended when life turns out different to what they thought it would be like?
Some folks (and I stress SOME) seem to like to winge about how their money is somehow worth less when they can still afford expensive pianos, holidays and all the rest.... what others might call "First world problems"

[MrGongGong]

I simply explore all possibilities and then come to a decision.

There's a fundamental flaw in this
"ALL" possibilities ?

Impossible

But maybe you like to spend time doing this rather than collecting records or making jam or writing music or walking in the woods ?

[P. G. Tipps]

There's a fundamental flaw in this
"ALL" possibilities ?

Impossible

But maybe you like to spend time doing this rather than collecting records or making jam or writing music or walking in the woods ?

Oh NO! ... I just LOVE walking in the woods, Mr GG ... it's got something to do with birds and Messiaen, I think.

[french frank]

Interesting how one bad experience puts you off everyone though.

Dear MrGongGong, When someone writes something like, "I 'ad a financial adviser once" and adds a smiley, it could be taken as a sign that there could be a scintilla of irony involved No need to take literally.

I don't know to whhhat you are referring with the comment, "Oh you mean for people who have more than enough money and don't know what to do with it?" Because I seemed to be conforming to your own advice and consulting a financial adviser? Or because my income is now so low that I no longer have to pay tax?