Open question - Financial

[slowworm]

If you end up in care, you'll just be giving all your money to private care providers if you try to just keep it all. My Dad's care was something like £40k per year for fairly standard dementia care (that was one of the cheaper choices as well).

I'm currently trying to sort this out for my mum. She's currently in hospital and they tried to send her down the fully private route without checking her financial situation. She may well qualify for state aid of some sort which could then be topped up by private money I think. Private care could well cost in excess of £80k a year where she is and when your money is gone you may get kicked out.

In respect of this thread my mum keeps pointing out I'll inherit most of her ailments so I'm going to reach a point soon when it makes sense to spend some of our savings rather than look to carry on growing them.

One thing to spend them on is private health care, mum has been constantly let down by the NHS over the years and she would have had a better quality of life if she'd gone private to sort a few things out.

 

[Chris]

I'm currently trying to sort this out for my mum. She's currently in hospital and they tried to send her down the fully private route without checking her financial situation. She may well qualify for state aid of some sort which could then be topped up by private money I think. Private care could well cost in excess of £80k a year where she is and when your money is gone you may get kicked out.

In respect of this thread my mum keeps pointing out I'll inherit most of her ailments so I'm going to reach a point soon when it makes sense to spend some of our savings rather than look to carry on growing them.

One thing to spend them on is private health care, mum has been constantly let down by the NHS over the years and she would have had a better quality of life if she'd gone private to sort a few things out.

Spending (or investing) your money in preventative maintenance (private healthcare) will likely do a lot more for your quality of life than spending it on being in a care home once that quality of life is long gone, for sure.

 

[TeeDee]

The costs for health care in later life to a system one may have put into for most of their life I think is a travesty. Definitely doesn't seem to be in ones own interest to be a saver anymore.

 

[demented dale]

With all this talk of silver on this thread. Would anyone be interested in any. Just dipping my toe in the bath. xxxxxxx

 

[Chris]

With all this talk of silver on this thread. Would anyone be interested in any. Just dipping my toe in the bath. xxxxxxx

Probably depends on what it is! What are you offering?

 

[TeeDee]

With all this talk of silver on this thread. Would anyone be interested in any. Just dipping my toe in the bath. xxxxxxx

Indeed - sounds like you are intending to sell some?

 

[demented dale]

Indeed - sounds like you are intending to sell some?

pm me x

 

[HorseGuy]

I'm considering buying some oil stocks tonight.
Then hoping they go down.

It might prove to be a profitable short-term trade though.

Oil has been doing well so far this month. With things kicking off in the Middle East last night I expect both oil and precious metals will continue going up further next week when the markets open on Monday.

Unfortunately.

https://in.tradingview.com/symbols/OIL_BRENT/?timeframe=12M

For the past few days OPEC countries have been pumping three times more oil than usual and flooding the market which was putting a downward pressure on the oil price. However oil tanker transport insurance costs have shot up six-fold due to the high risk currently involved with sailing through the Middle East which has been putting an opposite and larger upwards pressure on the oil price.

Now that all of the oil tankers are full up, OPEC countries will be forced to reduce their oil output from the level of the past week which will in turn will change that downward pressure on the oil price into an upward pressure. In addition to that, now the Iran war has actually begun oil tanker insurance prices are likely to rise even further (if they can be insured at all) which will put even more additional upwards pressure on the oil price going forward.

In my personal opinion (this is not financial advice ) this is the last chance there is to bag a bargain in oil stocks before the price skyrockets next week. I think this could be a very good opportunity to get in, make a fast buck within a few weeks then sell it again quickly and make a good sized profit in the process. Unless of course you think the Iran war will be over quickly and the price will go back down again? But personally I doubt that is likely to happen considering the current situation.

 

[Chris]

Short term trading isn’t for me, really. That said, I did pick up two 1oz .999 coins yesterday for £77 each via an acquaintance. Unless something comes up for stupid low prices beyond that in a charity shop or something, I think that’ll be me for a while, mostly just done out of ‘shiny thing’ syndrome.

 

[HorseGuy]

Short term trading isn’t for me, really.

Short term trading isn't usually my kind of thing either. I prefer being a long term investor as it is generally less risky and more likely to make a safe and steady profit.

However sometimes such an obvious and easy short term trade opportunity presents itself with high upside profit potential and low downside risk potential that I get tempted to take a punt. This current oil situation feels like one of those occasions. I'm not going to go all in and bet the farm on oil going up but I do think it's worth putting a small wager on it.

 

[HorseGuy]

That said, I did pick up two 1oz .999 coins yesterday for £77 each via an acquaintance.

At roughly spot price plus a bit extra to cover the postage that sounds like a good deal.

 

[Chris]

At roughly spot price plus a bit extra to cover the postage that sounds like a good deal.

Without VAT and things coming into it with private sales, it seems on the good end of a fair deal I reckon. Seems coins are going on eBay for just a few quid more than that in the low £80s if you're not too fussy about what's stamped on them, though of course selling/buying on eBay and with unknown private sellers adds an element of risk.

 

[TeeDee]

Oil has been doing well so far this month. With things kicking off in the Middle East last night I expect both oil and precious metals will continue going up further next week when the markets open on Monday.

Unfortunately.

https://in.tradingview.com/symbols/OIL_BRENT/?timeframe=12M

For the past few days OPEC countries have been pumping three times more oil than usual and flooding the market which was putting a downward pressure on the oil price. However oil tanker transport insurance costs have shot up six-fold due to the high risk currently involved with sailing through the Middle East which has been putting an opposite and larger upwards pressure on the oil price.

Now that all of the oil tankers are full up, OPEC countries will be forced to reduce their oil output from the level of the past week which will in turn will change that downward pressure on the oil price into an upward pressure. In addition to that, now the Iran war has actually begun oil tanker insurance prices are likely to rise even further (if they can be insured at all) which will put even more additional upwards pressure on the oil price going forward.

In my personal opinion (this is not financial advice ) this weekend will be the last opportunity there is to bag a bargain in oil stocks before the price skyrockets. I think this could be a very good opportunity to get in, make a fast buck within a few weeks then sell it again quickly and make a good sized profit in the process. Unless of course you think the Iran war will be over quickly and the price will go back down again? But personally I doubt that is likely to happen considering the current situation.

So are you yourself pursuing your beliefs on this one and buying?

 

[HorseGuy]

So are you yourself pursuing your beliefs on this one and buying?

Already have about three weeks ago when I first mentioned it.

 

[HorseGuy]

Without VAT and things coming into it with private sales, it seems on the good end of a fair deal I reckon. Seems coins are going on eBay for just a few quid more than that in the low £80s if you're not too fussy about what's stamped on them, though of course selling/buying on eBay and with unknown private sellers adds an element of risk.

Personally I wouldn't take a risk buying silver from Ebay as there are too many scammers. The safety of a reputable established bullion dealer like Chards or Atkinsons is a better option. However buying from a trustworthy long-term forum member on here such as Dale is also another safe option.

 

[Chris]

Personally I wouldn't take a risk buying silver from Ebay as there are too many scammers. The safety of a reputable established bullion dealer like Chards or Atkinsons is a better option. However buying from a trustworthy long-term forum member on here such as Dale is also another safe option.

Yeah, I’d trust most people here as well.

 

[Toddy]

It's strange the things that are 'of value'.
I collect, but mostly because I use, vintage sewing notions. One mixed bundle a year ago had two thimbles of the range I prefer to use (Dorcas 7)....these are steel cored but silver plated, very pretty, but really good thimbles if in good useable condition.
Anyway in the bundle was little velvet lined tartan needle box....turns out it would sell for over £200. It's Mauchline ware, MacBeth tartan.

I was about to put it into a big jar of sewing notions, buttons, etc., to pass to the charity shop.

 

[TeeDee]

It's strange the things that are 'of value'.
I collect, but mostly because I use, vintage sewing notions. One mixed bundle a year ago had

Is that how they are known generally or a you thing? Its very sweet either way I just like the way it sounds - love it

 

[plastic-ninja]

The more volatile the world gets the better gold gets as an investment. In 2024 a gold sovereign was sold for around £455 at peak price. Today the same coin would cost you around £1,000. Hard to find such a good return on the stock market.
Gold also has the advantage of being portable, technology-proof and universally accepted as currency all over the world.
It also leaves no easy trail, so if it’s a legacy issue it would be down to your family whether to include that in your estate for probate, or to declare it as savings if you need residential care. The downside is that it’s easily stolen although also easily hidden & if you don’t tell anyone you have it they won’t be looking for it if you’re burgled.
Obviously if you are buying some go to a reputable dealer. I have dealt with Chapel Jewellers in Sheffield a few times & found them excellent and very competitive on prices for buying and selling.

 

[Broch]

Derr... also easily forgotten; I forgot I had a few sovereigns in my coin collection