bellyup Posted July 16, 2009 Share Posted July 16, 2009 Only solution to the risks of losing your saved money is to spend it as soon as possible. Who knows what the future holds and you can't spend the money when you're dead. But what if you dont die where you live ? How do you live? Is the state supposed to support everyone? Link to comment Share on other sites More sharing options...
Chinahand Posted July 16, 2009 Share Posted July 16, 2009 Very seriously people need to build savings for retirement and invest these savings in a well diversified portfolio - use index trakers etc - sure you don't need money when you are dead but you do need it when you are 70, and the government simply can't afford pensions at sustainable levels. Link to comment Share on other sites More sharing options...
jimbms Posted July 17, 2009 Share Posted July 17, 2009 Its not right that honest savers ( those at the bottom) should have their savings taken from them by the machinations of governments I agree but I ask you again how would you do things? What system would you put in place to replace the present one? It's also not right that people who invested then lost it because where they invested in went tits up, to expect other taxpayers to bail them out. Ok, why is it right to bail out the bank then? That is also wrong, I never even mentioned the Bank, stick to what is said not side track please. Link to comment Share on other sites More sharing options...
La_Dolce_Vita Posted July 17, 2009 Author Share Posted July 17, 2009 That is also wrong, I never even mentioned the Bank, stick to what is said not side track please. Well no, the topic has already been side-tracked as we are now discussing savings specifically. I am just asking the question. You think it is wrong too. I should have started my question 'Do you...' Link to comment Share on other sites More sharing options...
Declan Posted July 17, 2009 Share Posted July 17, 2009 Is the state supposed to support everyone? You ask that when the Manx taxpayer is supporting you to the tune of £193 million? Link to comment Share on other sites More sharing options...
bellyup Posted July 17, 2009 Share Posted July 17, 2009 Is the state supposed to support everyone? You ask that when the Manx taxpayer is supporting you to the tune of £193 million? Please redirect this question to the correct thread. I will be happy to answer there. This thread is being flamed/hijacked for obvious reasons. Link to comment Share on other sites More sharing options...
bellyup Posted July 18, 2009 Share Posted July 18, 2009 Very seriously people need to build savings for retirement and invest these savings in a well diversified portfolio - use index trakers etc - sure you don't need money when you are dead but you do need it when you are 70, and the government simply can't afford pensions at sustainable levels. Of course they do, and make putting money into a bank a lottery will cause the downfall of the entire banking system. The very people who have tried to make arrangements for themselves instead of bludgeoning off the state will be penalised and scorned. As people get older they dont all want to be supervising portfolios they want some thing simple and understandable hence the reason put their money into banks always thought to be the safe haven for depositors. Link to comment Share on other sites More sharing options...
bluemonday Posted July 18, 2009 Share Posted July 18, 2009 As people get older they dont all want to be supervising portfolios they want some thing simple and understandable hence the reason put their money into banks always thought to be the safe haven for depositors. Can't argue with that at all. Banks were always thought safe. These days, nothing seems safe. Not just iom or uk but worldwide. Link to comment Share on other sites More sharing options...
bellyup Posted July 21, 2009 Share Posted July 21, 2009 As people get older they dont all want to be supervising portfolios they want some thing simple and understandable hence the reason put their money into banks always thought to be the safe haven for depositors. Can't argue with that at all. Banks were always thought safe. These days, nothing seems safe. Not just iom or uk but worldwide. Its true nothing is safe but when their is a disaster be whatsoever it is there are - it seems - always a bunch of people who take delight in the downfall of others. Somehow they think people 'deserve' misfortune it serves them right in the same as some people thought the US 'deserved to have the twin towers destroyed. Innocent people are killed or have their lives devastated and some nasty minded ignoramuses will be there to exlaim they 'deserved it'. Link to comment Share on other sites More sharing options...
The Voice of Reason Posted July 21, 2009 Share Posted July 21, 2009 As people get older they dont all want to be supervising portfolios they want some thing simple and understandable hence the reason put their money into banks always thought to be the safe haven for depositors. Can't argue with that at all. Banks were always thought safe. These days, nothing seems safe. Not just iom or uk but worldwide. Its true nothing is safe but when their is a disaster be whatsoever it is there are - it seems - always a bunch of people who take delight in the downfall of others. Somehow they think people 'deserve' misfortune it serves them right in the same as some people thought the US 'deserved to have the twin towers destroyed. Innocent people are killed or have their lives devastated and some nasty minded ignoramuses will be there to exlaim they 'deserved it'. Just when I thoughtt you couldn't get any more hysterical (not in the funny sense) you come up with this gem Link to comment Share on other sites More sharing options...
Cambon Posted July 22, 2009 Share Posted July 22, 2009 Ok, why is it right to bail out the bank then? Because the alternative is to liquidate them, settle their debts and repay the depositors - a much more expensive alternative. Link to comment Share on other sites More sharing options...
Cambon Posted July 22, 2009 Share Posted July 22, 2009 Only solution to the risks of losing your saved money is to spend it as soon as possible. Who knows what the future holds and you can't spend the money when you're dead. And this is almost the correct answer. Because inflation will exceed deposit interest for the next few years, the buying power of your miney diminishes. The best thing to do is to spend it on repaying debt. Besides, if the banks did go bust, your debt would still require repaying, whether you got your deposit money back or not. Link to comment Share on other sites More sharing options...
bellyup Posted July 22, 2009 Share Posted July 22, 2009 Only solution to the risks of losing your saved money is to spend it as soon as possible. Who knows what the future holds and you can't spend the money when you're dead. And this is almost the correct answer. Because inflation will exceed deposit interest for the next few years, the buying power of your miney diminishes. The best thing to do is to spend it on repaying debt. Besides, if the banks did go bust, your debt would still require repaying, whether you got your deposit money back or not. Not everyone has or wishes to incur debt what then? Link to comment Share on other sites More sharing options...
Cambon Posted July 22, 2009 Share Posted July 22, 2009 Not everyone has or wishes to incur debt what then? Right now, equities. In the medium and long term the returns will be far better than deposits. Link to comment Share on other sites More sharing options...
jimbms Posted July 23, 2009 Share Posted July 23, 2009 Only solution to the risks of losing your saved money is to spend it as soon as possible. Who knows what the future holds and you can't spend the money when you're dead. But what if you dont die where you live ? How do you live? Is the state supposed to support everyone? Of course it isnt, now you are getting the point, why should the state support people who have lost money due to their own greedy investment in a high intrest paying islandic bank that whent tit's up when they could have had slightly less intrest in a more secure bank and lost nothing. Link to comment Share on other sites More sharing options...
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