Oh, you don't want to do THAT!
Posted by jdavis on September 11, 2015
Advice to ruin your financial life:
During a portfolio downturn / markets' crash etc, stop saving into your pension.
Buy funds that everyone else is buying.
Try to finesse the market by being cute about selling at minipeaks and buying at minitroughs.
During a temporary weakness in your earnings, rely on credit cards.
Increase your mortgage debt to buy a lovely new car or to go on holiday.
There's no reason why you can't pick investment winners as others can.
Tips from your mates or your brother-in-law are always a good idea. As are those tipped in papers/journals.
Don't bother with tax-advantageous savings accounts such as pensions, offshore bonds, ISAs etc.
What more do you need to know other than what is in The Telegraph or the financial journals? They're there to advise you...
House prices are up for 40 years in an era of falling interest rates. Even though the Base Rate can never again be cut (beyond 0.5%) houses will secure your retirement.
Shares and commercial property have done well for 30 years. This will undoubtedly continue.
What has been will always continue, sustainably. So, invest into what used to work, even though there is no Retail Price Inflation to speak of (whereas previously it was 10-25% in the 1970s to 1990s).
You don't need to pay back your mortgage. Your parents' house went up from £5,000 to £500,000. So, your £200,000 flat will go up to £20,000,000. (According to The Nationwide, 7 of 13 UK regions have had less than 1% pa growth over the LAST 10 YEARS.)
Invest near tops, not near bottoms. Investments are more risky at very low prices.
Buy a new car with 48+ months' payments.
Take out the biggest mortgage you can find. It worked for the last generation.
You can't lose with large companies. Such as Banks.