The grumpy thread

[chadders]

It's caused us to rethink things a bit as our sons are a scientific researcher and a teacher, neither of which are well paid professions. It looks like we might be able to help them a bit more to get on the housing ladder.

[Lankytim]

8 minutes ago, chadders said:

It's caused us to rethink things a bit as our sons are a scientific researcher and a teacher, neither of which are well paid professions. It looks like we might be able to help them a bit more to get on the housing ladder.

What were you thinking? Equity release? 

[chadders]

Yes, it also helps with Inheritance Tax.

As it is the youngests, the researcher, current contract expires soon and then he's planning on going for another 3 year one so we've got some time yet as he'll almost certainly carry on renting. He may end up in Vienna with his girlfriend, who's also a researcher albeit in a different field, in which case they'll rent there. 

[wuvvum]

My parents would probably have been happy to do something similar with their house, except that their mortgage is going to be paid off two months before my Mum turns 80 (the joys of having lived in France for 20-odd years and missed out on price rises) so unless they both manage to stay living at home into their 90s it's unlikely to work.

[artdjones]

The Irish system is pretty fair. They take 5% of your assets every year to pay for care, also 80% of any income from pensions, including the state one. After three years the family home is removed from the equation, so whatever happens 85% of it's value remains for the estate when the person being cared for dies. Obviously richer people don't take part in the scheme, as it's cheaper to pay full fees, so they aren't subsidised, while those who are dirt poor (i.e. with no assets or private income) get fully funded. And for those in the middle the main family asset isn't totally dissipated, leaving nothing behind for the family.

[paulplom]

3 hours ago, twosmoke300 said:

Capitalist  pig !!!

 

 

Love you 🤣

Thing is, indirectly you're paying for it. 

We all are really.

[artdjones]

4 minutes ago, artdjones said:

The Irish system is pretty fair. They take 5% of your assets every year to pay for care, also 80% of any income from pensions, including the state one. After three years the family home is removed from the equation, so whatever happens 85% of it's value remains for the estate when the person being cared for dies. Obviously richer people don't take part in the scheme, as it's cheaper to pay full fees, so they aren't subsidised, while those who are dirt poor (i.e. with no assets or private income) get fully funded. And for those in the middle the main family asset isn't totally dissipated, leaving nothing behind for the family.

According to my brother, who's lived there since 2004, the German system is pretty unfair. If you need care but don't have the €1000-1500 pw or more it costs the state will take your house to pay for it. If you die six weeks later your family don't get a rebate, and your care has actually cost tens of thousands per week.

[RoverFolkUs]

6 hours ago, reb said:

I'm really beginning to understand why some people go no contact with their parents as soon as they can.

That aged well 🤣

1 hour ago, SH1TE said:

I plan to liquidate assets,  spent the lot and leave fuck all

 

[Pieman]

1 hour ago, Lankytim said:

That sounds like a rational plan to me. 

I plan to just not enter old age at all.

[richardmorris]

All this car envy comes down to “ why do you care what other people think “.  Something I read in one of Richard Feynman’s books and said by his wife.

[Lankytim]

59 minutes ago, Pieman said:

I plan to just not enter old age at all.

I guess that's where the problem lies, all these oldies having the audacity to get too old and require expensive residential care. Back when I was a nipper old people had the common decency to drop dead a few weeks after retirement. 

We're all living longer but the "extra" life is tacked onto the end when your health starts to fail. Why can't it be added when we're in our 20's or 30's when we have good health and can enjoy it?

[High Jetter]

2 hours ago, Lankytim said:

That sounds like a rational plan to me. 

Yes, has been the accountants advice for years.

[Wibble]

2 hours ago, artdjones said:

The Irish system is pretty fair. They take 5% of your assets every year to pay for care, also 80% of any income from pensions, including the state one. After three years the family home is removed from the equation, so whatever happens 85% of it's value remains for the estate when the person being cared for dies. Obviously richer people don't take part in the scheme, as it's cheaper to pay full fees, so they aren't subsidised, while those who are dirt poor (i.e. with no assets or private income) get fully funded. And for those in the middle the main family asset isn't totally dissipated, leaving nothing behind for the family.

Then that’s about the only Irish system that’s fair! Inheritance tax is downright robbery. Threshold of, what 32%? And then 32% of the rest on top, or is it 33% now? Sorry, I’m executor of my late Aunt’s estate and the tax is crippling and the process exhausting. Three and a half years since she died and we’re still not done😣

[High Jetter]

Yes, been there but with wills in Ireland AND the UK. Nightmare, but solveable.

[High Jetter]

3 minutes ago, High Jetter said:

Yes, been there but with wills in Ireland AND the UK. Nightmare, but solveable.

Hmm, not sure why that was considered to qualify for 'Haha', but it seems to be a widespread affliction at the moment.

[chaseracer]

Because he is now on pre-mod, but - having the emotional maturity of a gerbil - still cannot suppress the urge to be a TOTAL DICK.

[Wibble]

Thanks guys, I certainly don’t see what’s funny about it.

[High Jetter]

2 minutes ago, chaseracer said:

Because he is now on pre-mod

Good to hear that.

[artdjones]

8 hours ago, Wibble said:

Then that’s about the only Irish system that’s fair! Inheritance tax is downright robbery. Threshold of, what 32%? And then 32% of the rest on top, or is it 33% now? Sorry, I’m executor of my late Aunt’s estate and the tax is crippling and the process exhausting. Three and a half years since she died and we’re still not done😣

IHT is 40% in the UK 

[cort1977]

17 minutes ago, artdjones said:

IHT is 40% in the UK 

Yes, but only on estates worth over around 600k. Despite price rises there's not that many of those.

 

[paulplom]

I'll be helping my kids as much as I can. The country is fucked up and it's not their fault. My mother gave me £10k for the deposit on my first house in 2003. There's no way I'd have been able to save that amount back then. I've always been a big spender. My eldest daughter will be 28 on  halloween and has lived by herself since she was 17. She's always worked even when she put herself through university. Her partner also works as an I.T. bloke installing phones and internet into business for a private firm. They are both on fair money but still struggle. They only have a council flat and he's just recently handed his car back to the finance company to save even more money. I do bung them money now and then when they visit even though they never ask for it. It's disgusting how two people with decent jobs are struggling to survive with only the basics to pay for. I genuinely think they'd be better off on the dole.

We've never took a penny off either my son or stepson in board. He's been to uni for the lasr five years but even when home we never asked for a penny. My son is 17 and doesn't pay anything either. I wanted to charge him but my partner absolutley refused. He takes home £120 a week from me but still has fuck all come payday. I'd love to know what he spends it on. He doesn't drink or ever really go out.

Tldr. The country is a shitstorm and the kids will have it a lot worse than us. Help them while you still can.

(Being a tight cunt is a pet hate of mine. I've never met anyone with that trait I actually like).

[chadders]

The agreement we had with our sons was that once they start full time work they started paying if they were still living at home.

We thrashed that out during a formal family discussion, which we have every few years, along with things like house/flat deposits. That way they know exactly where they stand and it reduces any possible accusations of favouritism.

The youngest gets money bunged at times due to things like moving flats and waiting for his deposit to be returned. At the end of the day he's just getting an advance on his inheritance which is far more useful to him now and his brother is happy with it .

[Metal Guru]

14 hours ago, artdjones said:

The Irish system is pretty fair. They take 5% of your assets every year to pay for care, also 80% of any income from pensions, including the state one. After three years the family home is removed from the equation, so whatever happens 85% of it's value remains for the estate when the person being cared for dies. Obviously richer people don't take part in the scheme, as it's cheaper to pay full fees, so they aren't subsidised, while those who are dirt poor (i.e. with no assets or private income) get fully funded. And for those in the middle the main family asset isn't totally dissipated, leaving nothing behind for the family.

WTF? A government scheme that actually works and is fair to everyone?  Maybe if our government didn’t consider having assets of £16k rich enough to fund your own care, people wouldn’t go to the trouble of setting up trusts etc .

[artdjones]

1 minute ago, Metal Guru said:

WTF? A government scheme that actually works and is fair to everyone?  Maybe if our government didn’t consider having assets of £16k rich enough to fund your own care, people wouldn’t go to the trouble of setting up trusts etc .

£16k won't do much good, it will last approximately 10 weeks.

[junkyarddog]

3 hours ago, cort1977 said:

Yes, but only on estates worth over around 600k. Despite price rises there's not that many of those.

 

I thought it was 325k

[Mally]

1 minute ago, junkyarddog said:

I thought it was 325k

325k one person. If your spouse dies before you allowance goes up to 650k

[paulplom]

1 hour ago, chadders said:

At the end of the day he's just getting an advance on his inheritance

Fil lent us the money to buy the place we have now in 2015 and we just had to pay the interest on it till he dies. It was £300 a month for a three storey four bedroom house. Two Christmases ago he just said keep it and don't bother paying anymore.

I suppose we're just spreading our good fortune. When he does cark it her brother will get the equivalent to what he gave us.

[chadders]

17 minutes ago, Mally said:

325k one person. If your spouse dies before you allowance goes up to 650k

Plus:

• £175,000 – since 2015 you've also been able to take advantage of something called the 'residence nil-rate band', commonly known as the 'main residence' band. This is an additional allowance you'll receive ON TOP of the existing £325,000 inheritance tax allowance if you pass on a main residence to your children or grandchildren. 

So up to 1m as the 175k can be doubled.

[beko1987]

I paid housekeeping when I lived at mums and had a job. Money wasn't fab anyway so it did get spent on food and bills and everything else. 

I didn't mind tbh. When I moved out and started paying rent it was, in my head "only x more than I'm already paying". 

I think it's a good idea as it gets the main key bill set up in your head from a young age. I'd love to be rich enough to charge my kids it but save it all up instead for them. Who knows! 

I don't think about what the kids will do when their older yet. A 1 bed flat is £950/1000 a month on our estate so they've got no chance 😂

[Pieman]

12 hours ago, chaseracer said:

Because he is now on pre-mod, but - having the emotional maturity of a gerbil - still cannot suppress the urge to be a TOTAL DICK.

Looks like he's now been booted for good?