Teresa May Speach

[Dominic]

No they weren't. The odds changed all the time, and in the evening on Betfair when the votes started coming in they went out really, really far. Remember at one point Farage was getting ready to admit defeat, and presumably start moaning about the closeness of the result.

[keving]

No they weren't. The odds changed all the time, and in the evening on Betfair when the votes started coming in they went out really, really far. Remember at one point Farage was getting ready to admit defeat, and presumably start moaning about the closeness of the result.

Indeed, didn't Farage say if we lose this closely, say 48-52, this is not over?

[Conoflex]

Whatever- you didn't place the bet so it's a complete irrelevancy

I have seen the exchange rate go a lot lower than it is now in my short time here (and 7 years is short when you look at currency swings)

I always tell people who want to move here out of work out how much money you need, add 30% for contingencies and once you have the final figure then double it- then you might be okay.

Never mind, if you are working in Cyprus you will be earning in the mighty Euro-just don't bank on the arse not falling out of that either

[Dominic]

Whatever- you didn't place the bet so it's a complete irrelevancy

That was my point all along.

[Conoflex]

Whatever, but sitting and waiting and thinking of punting £10 grand with Betfair on Brexit isn't the best form of insurance from currency fluctuation

[keving]

Whatever- you didn't place the bet so it's a complete irrelevancy

I have seen the exchange rate go a lot lower than it is now in my short time here (and 7 years is short when you look at currency swings)

I always tell people who want to move here out of work out how much money you need, add 30% for contingencies and once you have the final figure then double it- then you might be okay.

Never mind, if you are working in Cyprus you will be earning in the mighty Euro-just don't bank on the arse not falling out of that either

I like your advice. So if I need a pension of £40,000 a year (after tax) in the UK to maintain the lifestyle that I am accustomed to and the lifestyle that I want to maintain in the UK .... then should I only onsider moving to Cyprus full time if I have an income of £40,000 x 130% x 2. This equals £104,000 a year. Wow!

Given that my pension in the UK is fixed, and I can't increase it by 30% or double it, it looks like I'm am stuck in the UK. Bugger.

[Conoflex]

I don't have a pension- who mentioned pension? Sure with a decent pension you can always adapt, but many ex pats don't have that

If you don't have a pension you need a big pile of dough in a bank exactly along the guidelines I suggested - so even if interest rates go below zero you still can have your spending money - doh

[Jersey]

I don't have a pension- who mentioned pension? Sure with decent pension you can always adapt, but may people ex pats don't have that

If you don't have a pension you need a big pile of dough in a bank exactly along the guidelines I suggested - so even if interest rates go below zero you still can have your spending money - doh

Ouch Keving..

[keving]

I don't have a pension- who mentioned pension? Sure with a decent pension you can always adapt, but many ex pats don't have that

If you don't have a pension you need a big pile of dough in a bank exactly along the guidelines I suggested - so even if interest rates go below zero you still can have your spending money - doh

Let's take a step back. I only mentioned pension because pensions are fixed. I'll re-calibrate.

If I require an annual income of £40,000 after all taxes to maintain my desired lifestyle living in the UK ... How much annual income do I need to maintain my lifestyle living in Cyprus?

Is it your formula of £40,000 x 130% x 2?

Simple enough question

[Conoflex]

My statement is quite easy to understand surely - if you don't have a "decent" pension then you need the safeguards I outlined

If you do have a decent pension that is not subject to interest rates and stock market fluctuations you are very lucky and don't need these safeguards, you only have to adjust a bit and wait for the pendulum to swing back

The problem that many face when moving abroad is that they do not have a decent pension and are totally at the mercy of interest rates and currency rate fluctuations and to avoid those complications they need at least a 130% cushion, because interest rates changes can easily cut their incomes by a good 80% and exchange rate fluctuations can easily cut that by another 20%

Maybe you just can't appreciate the problems those living on a basic UK pension and the interest they get on their savings are facing ? Decent pensions are becoming the exclusive preserve of the very rich or the very lucky

[keving]

McIngy, I would have loved to have met you 25 years ago.

No doubt you've paid for financial advice over this time frame .... but I think that I could have done a lot better for you.

OK you might think that you have amassed a relative fortune, but unless you've got surplus assets in excess of £3m you're doing a lot worse than someone who could have been on a salary of £180,000 in 1983 might have expected to have accumulated by your age.

[Conoflex]

Lack of ambition is something I am proud to put on my CV- I haven't got £3m (although I probably have that many zeros behind another number) but I have had a spendthrift life, the best of cars, food and hotels and holidays and still have more than I can ever spend (unless I reach 100) having never actually consciously saved a penny in my life and I am more than happy with my lot and "career" choices - in or out of the EU

However I must apologise- this thread is about Theresa May and not me- so lets get back on topic

[keving]

I'm warming to you Keith. We are similar in some respects. When I first started work it was spend spend spend. I delayed joining the pension scheme until age 26. From age of 32, starting to pay tax at 40%, I recognised the absolute value in getting tax relief at 40% on pension contributions. Retired at 55 partly because I had maxed out on lifetime pension contributions and any further contributions would be taxed at 55%.

So now, I have a pension which just only gives me enough money to enjoy the life that a want. I have never set my targets higher than my income

I think that the cost of living in Cyprus is probably lower than the UK, but if your lifestyle includes a minimum of 6 flights a year to destinations other than Cyprus, I am not so sure.

For all its faults, the UK is a great place to live. I can't see why anyone would leave .. unless to become an economic migrant

[Jersey]

I'm warming to you Keith. We are similar in some respects. When I first started work it was spend spend spend. I delayed joining the pension scheme until age 26. From age of 32, starting to pay tax at 40%, I recognised the absolute value in getting tax relief at 40% on pension contributions. Retired at 55 partly because I had maxed out on lifetime pension contributions and any further contributions would be taxed at 55%.

So now, I have a pension which just only gives me enough money to enjoy the life that a want. I have never set my targets higher than my income

I think that the cost of living in Cyprus is probably lower than the UK, but if your lifestyle includes a minimum of 6 flights a year to destinations other than Cyprus, I am not so sure.

For all its faults, the UK is a great place to live. I can't see why anyone would leave .. unless to become an economic migrant

Too many darkies for a start ..

[Poppy]

Well to get back to the title of this thread I thought her speech was excellent in fact I was surprised at times by how direct ( albeit diplomatic in my opinion)she was. She spoke for about 45 minutes I think. In fact revise my excellent and put Great in it's place!
She also did say that she had been keen to conclude a deal with the EU guaranteeing residency for EU citizens already in the UK in return for UK citizens to be treated the same in the EU but she had been unable to get this guarantee blocked apparently by just a few countries - I would love to know who they were.

[Dominic]

Whatever, but sitting and waiting and thinking of punting £10 grand with Betfair on Brexit isn't the best form of insurance from currency fluctuation

Can you think of a better way? It was a simple hedge. Nothing complex about it whatsoever.

[Ramone]

I also thought it was an excellent speech & will go a long way with Germany , France that the UK is not prepared to just lie down and be walked all over. It will also give a few other countries food for thought.

[Conoflex]

We haven't triggered Article 50 yet, and the negotiations will take a couple of years on top of that (although hopefully we can make progress quicker)

That time will fly by of course,but it is a very long time in political terms and a few of the key figures may indeed not see the whole process through.

Hollande- who has been amongst the most vocal critics of Britain, has the political shelf life of a pint of full fat milk on a hot day .What replaces him remains to be seen-Le Penn remains an outsider, but it is inconceivable whoever replaces Hollande will be as anti British as he is. If Le Penn is returned the EU's bargaining position will be seriously undermined

Merkel will probably be returned in Germany, the German fear of what might happen to the Euro without her in charge will probably see to that, but she will not have the authority she once did and German business will be putting huge pressure on her to strike a deal that prevents import tariffs on German goods . A re-ignition of the Euro crisis will really put the cat amongst the pigeons

So it is all very interesting- the EU is coming under all sorts of pressure on all sorts of fronts- May has done exactly what was required in the circumstances, and anyone who thinks the EU holds all the aces and hasn't got a bit of a squeaky bum about proceedings is sorely mistaken