Bad Beat/Moaning/Venting - pray for Lazare

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[Denny Crane]

1% for a passive fund is about the cheapest you can get through a PRSA. No one was offering Vanguard last time I checked. Although I think Davy offers them through their self-directed fund, but they've extra charges, so only worth doing if your pension is worth 100k+.

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[V for Vendetta]

Also, general investment question....

I have about 5k in a pension from the last place I worked which I am finally getting around to moving.

The guy I'm dealing with is encouraging me to put it into a PRSA which I'm happy enough to do but the one he is pushing is an Aviva Buy Out Bond the literature for which gave me a bit of a chuckle with this line:



Can someone check my work that this is about 4X the cost of a Vanguard index (and probably only the start of a panoply of charges)?

Can I not just get a PRSA which buys a super cheap index fund? Is that what I need to ask for?

What are you currently paying in charges? Why move at all? PRSA or Buy out bond (very different products btw) are both generally more expensive than an occupational scheme.

Methinks you are paying for this advice via commission and that's a lot of your problem.

[Strewelpeter]

got to the end of The Killing last night only to learn there is a 2nd season - I thought I was working up to a crescendo in one season. Pot committed.

Are you watching the Danish one?
If the answer is no you have made a terrible mistake; go back and rectify it post haste.

[Keane]

Yeah my pension in the current place has a global equity fund that only charges 0.135% fees so I think my best thing to do would be just to roll the few grand in the other one over into that.

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[V for Vendetta]

and don't forget to kick your financial advisor in the balls for trying to destroy your hard-earned wealth

He isn't an adviser he's a broker. Brokers get paid on transactions not for "advising" you so don't blame them if you misunderstand their purpose in life.

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[Guest]

Exam supervising minutes are at least 3x longer than a regular minute. I'm sure of it.

[V for Vendetta]

Financial advisors get away with so much crap. If a garage installed something unnecessary in your car, charged you for it, and then you found out it was going to make your car run worse, we'd be picketing and firebombing their place of work. But it seems the modus operandi of financial advisors is to sell you dodgy crap based on how much profit it will make the advisor, and they get a pass on it.

If he sits down and at the beginning says 'you look like an idiot so I'm going to try to persuade you to do the thing thats worse for you and best for me', then its grand calling him only a broker. But they often couch their words in advisory terms. Which makes them advisors imo.

Ah yes but you wouldn't go see a doctor and expect to pay nothing and have the pharmaceutical company pay him commission on the medicine. It's insane that we expect this model to result in proper advice. Sure the brokers talk advice language but it doesn't pass a basic bs test.

A guy was referred to me last week and wanted me to review his pensions. He almost choked on the phone line when I told him that I'd be charging him for the review as some of the products he's currently in may be good value and I wouldn't be "selling" him a financial product just for the sake of it. I think he was expecting me to be delighted to get the opportunity to review his finances on the hope of flogging him something. Meh I didn't care because unless he understands the distinction I don't want him as a client but he's representative of 90%* of the market IMO.


*number pulled out of my ass.

[V for Vendetta]

seems like a kick in the balls wouldn't go astray though

A kick in the balls for Keane and the broker wouldn't go astray! Plus for mixing up a PRSA and a BOB means Keane deserves two kicks IMO.

[V for Vendetta]

Exam supervising minutes are at least 3x longer than a regular minute. I'm sure of it.

A gambling opportunity surely.

First to leave, first to ask for more paper, last to leave, most trips to the toilet...

Great possibilities.

[Guest]

A gambling opportunity surely.

First to leave, first to ask for more paper, last to leave, most trips to the toilet...

Great possibilities.

Unfortunately I'd be playing against myself. Just a little 50 min in-class test.

[Mellor]

As far as I know MILK chocolate has to have 35% and Dark 70% white chocolate is something ridic like 7%. If milk chocolate says it contains less than 35% it will be pretty rank. Dark chocolate can't be sold with 35% solid.

I think you are getting your numbers mixed up with something else. I'm not sure why it was, but something brought to the Wikipedia page on chocolate a while ago.

Dark chocolate is 35% minimum. 70-90% is common in some brands. But something like Bournville will be close to the minimum.

Milk chocolate is 25% min*. Not sure why you think that would be rank. Dairy milk is 25%.
*in the US it can legally be as low as 10%.

White chocolate has a 0% minimum because it's made from cocoa butter not cocoa solids.

[DeadParrot]

Starting watching TWD last week, done season 1 but can't get season 2 to play on shush.

Keep getting this message

Error Loading Player
No Playable Sources Found.

Tried all the mirrors etc

I don't use torrent sites on this laptop and not sure where else I can just watch the first episode of season 2. Anyone?

Edit - I have been trying this for 4 days and tried again before I posted. BBV sh1t alive and well, just went back on and BANG it played

surprised you never jumped on the kodi train?

[Mellor]

Financial advisors get away with so much crap. If a garage installed something unnecessary in your car, charged you for it, and then you found out it was going to make your car run worse.

A garage was probably the nut-worst example to choose there.

[MrsFlushdraw]

I think you are getting your numbers mixed up with something else. I'm not sure why it was, but something brought to the Wikipedia page on chocolate a while ago.

Dark chocolate is 35% minimum. 70-90% is common in some brands. But something like Bournville will be close to the minimum.

Milk chocolate is 25% min*. Not sure why you think that would be rank. Dairy milk is 25%.
*in the US it can legally be as low as 10%.

White chocolate has a 0% minimum because it's made from cocoa butter not cocoa solids.

When I was making desserts it was pretty strict on chocolate and I find that chocolate with less cocoa solid is not as nice. We sampled some amazing chocolate at a top restaurant kitchen.

I forgot about the white being butter and not solid.

When we were studying we had to remember 35% milk, 70% dark for exams. American chocolate is awful stuff, tried it many times and I don't like it. No wonder if they can have very little actual cocoa in it!

[MrsFlushdraw]

surprised you never jumped on the kodi train?

When we got the android we initially planned on that. Have Kodi on one of the tablets but never bother with it. I watch very little TV, It does not go on at all during the day and on maybe if Football is on for Tony. I read books all the time.

I don't watch any soaps or game shows. I do watch series like Blacklist, Mr Robot etc and sometimes we have them downloaded or just watch from shush onto the TV.

[Guest]

Friday sounds like it's going to be a cross between Mad max and the purge if the media are to be believed.

[Keane]

A kick in the balls for Keane and the broker wouldn't go astray! Plus for mixing up a PRSA and a BOB means Keane deserves two kicks IMO.

I said I was interested in a switch to a PRSA (which he originally advised) and then he came back with 'grand so use this buy out bond'.

I had no idea what a buy out bond was but having just googled it the suggestion is that I can make no further contributions to it and can only put it towards an annuity at the end.

WTF

[V for Vendetta]

I said I was interested in a switch to a PRSA (which he originally advised) and then he came back with 'grand so use this buy out bond'.

I had no idea what a buy out bond was but having just googled it the suggestion is that I can make no further contributions to it and can only put it towards an annuity at the end.

WTF

Now you understand why I was suggesting a second kick for you for mixing these two up. I don't accept the "broker told me" excuse!

A cheap lesson in fairness about who not to deal with in future...

The number of people who just rock in to a bank/tied agent/fellah from the pub/golf course and think they are getting great advice for nothing is unreal.

Anyway stick the money in that cheap equity fund you have access to and get the pot size up beyond 5k sharpish! GL


PS There is little or no commison on a 5k prsa, in particular with no future contributions expected as the compliance cost on the product is higher than a BOB. However a 5k BOB will pay commison as the compliance cost is lower and the expected duration of you remaining in the product is longer. That's why a BOB was "offered" to you.

I currently charge 2k for a full financial review as a loss leader (to get corporate business introductions) and 3k if I charge correctly. Individual business is only a sideline for me. Good advice isn't cheap so only the wealthy generally get it or have sufficient assets to benefit from it.

[Keane]

Anyway stick the money in that cheap equity fund you have access to and get the pot size up beyond 5k sharpish! GL

Oh don't worry, this is just money left behind after the last job - current pot is a lot higher than that.

[Lplated]

Also it looks very much as though the FBI has gone rogue.

Releasing docs from a 2001 investigation, five days before the election. WTF?

Would it be too 'tin-hat' to wonder whether FBI in some fashion have 'looked at' both candidates and somehow concluded that Clinton would be more harmful to America?

[Tar.Aldarion]

Ah yes but you wouldn't go see a doctor and expect to pay nothing and have the pharmaceutical company pay him commission on the medicine. It's insane that we expect this model to result in proper advice. Sure the brokers talk advice language but it doesn't pass a basic bs test.

A guy was referred to me last week and wanted me to review his pensions. He almost choked on the phone line when I told him that I'd be charging him for the review as some of the products he's currently in may be good value and I wouldn't be "selling" him a financial product just for the sake of it. I think he was expecting me to be delighted to get the opportunity to review his finances on the hope of flogging him something. Meh I didn't care because unless he understands the distinction I don't want him as a client but he's representative of 90%* of the market IMO.


*number pulled out of my ass.

That is surely you just projecting your knowledge domain.

[DeadParrot]

Would it be too 'tin-hat' to wonder whether FBI in some fashion have 'looked at' both candidates and somehow concluded that Clinton would be harmful to America?

you'd think if that was the case they wouldnt have waited until so many early voters had already voted

[Lplated]

you'd think if that was the case they wouldnt have waited until so many early voters had already voted

I'd buy that, but releasing documents or anything at this stage, with only vague explanations as to what harm is contained in them etc..., creates maximum suspicion with least time available for Clinton to dig herself back out.

Unless of course they have planned something that would completely sink Trump for the weekend media cycle .....

[V for Vendetta]

That is surely you just projecting your knowledge domain.

No. We have a culture of blaming other people for our problems. Personal responsibility has to come in to it and if a guy is selling me something and I'm not explicitly paying for it then someone else is paying him and he's conflicted. It's as simple as that. To park your brain at the door and blame the other person is just naive and silly. It doesn't matter if it's a financial product, software or whatever else you might be in need of...

In the words of the great Sky Masterson "Daddy! I got cider in my ear"*



*Extended quote from Guys and Dolls

On the day when I left home to make my way in the world, my daddy took me to one side. “Son,” my daddy says to me, “I am sorry I am not able to bankroll you to a very large start, but not having the necessary lettuce to get you rolling, instead I’m going to stake you to some very valuable advice. One of these days in your travels, a guy is going to show you a brand new deck of cards on which the seal is not yet broken. Then this guy is going to offer to bet you that he can make the jack of spades jump out of this brand new deck of cards and squirt cider in your ear. But, son, do not accept this bet, because as sure as you stand there, you’re going to wind up with an ear full of cider. ….

[DeadParrot]

I'd buy that, but releasing documents or anything at this stage, with only vague explanations as to what harm is contained in them etc..., creates maximum suspicion with least time available for Clinton to dig herself back out.

Unless of course they have planned something that would completely sink Trump for the weekend media cycle .....

honestly who the fuck knows at this stage.
The pros for the FBI for a trump led government are kinda frightening
less a Hillary is a danger to the US and more with Trump in power they can get away with anything.

Which is another kind of tinfoil hat

[Tar.Aldarion]

No. We have a culture of blaming other people for our problems. Personal responsibility has to come in to it and if a guy is selling me something and I'm not explicitly paying for it then someone else is paying him and he's conflicted. It's as simple as that. To park your brain at the door and blame the other person is just naive and silly. It doesn't matter if it's a financial product, software or whatever else you might be in need of...

In the words of the great Sky Masterson "Daddy! I got cider in my ear"*



*Extended quote from Guys and Dolls

On the day when I left home to make my way in the world, my daddy took me to one side. “Son,” my daddy says to me, “I am sorry I am not able to bankroll you to a very large start, but not having the necessary lettuce to get you rolling, instead I’m going to stake you to some very valuable advice. One of these days in your travels, a guy is going to show you a brand new deck of cards on which the seal is not yet broken. Then this guy is going to offer to bet you that he can make the jack of spades jump out of this brand new deck of cards and squirt cider in your ear. But, son, do not accept this bet, because as sure as you stand there, you’re going to wind up with an ear full of cider. ….

I would agree that people should put some research into understanding what they are getting, I think it impractical for all of their endeavours though. Also on top of that is the realisation that <MadeUpHigh%> of people park their brains at the door and are swindled so should and reality are at odds. You are basically saying caveat emptor and in this case particularly, where you are not paying somebody, that applies more than caveat venditor I suppose, and to whoever is reading this sorry, caveat lector.

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[V for Vendetta]

A huge amount of legislation is about protecting people from having to worry about being swindled in areas where they might not be experienced. It's not Keane's fault for not knowing what a BOB is (I don't know either). Keane shouldn't have to worry about being sold a BOB when a BOB is not good for him. He's a chip making dude not a financey BOB-knowing dude.

The regulation and the enforcement are very weak. We vote for populist politicians who get no votes for tackling these sort of problems. For example we haven't had a retail distribution review like they have had in the UK which has banned commission payments for the exact reasons of mi-selling. We also have a cultural love of being cute hoors which bites us on a regular basis.

Therefore we need to be on our guard in almost everything we do, be that buying a financial product, software, health etc. We are living in an effectively lawless state and the worse bit is the pretense that we have good regulation in place....

I told a Central Bank official in 2008 that the credit unions in this country were a mess and that they'd need to investigate every single one. She told me I was crazy. Now the tax payer is bankrolling all the credit unions and still guys are arranging "raffles" to look after their friends and the CBI is still "investigating".

[Keane]

A huge amount of legislation is about protecting people from having to worry about being swindled in areas where they might not be experienced. It's not Keane's fault for not knowing what a BOB is (I don't know either). Keane shouldn't have to worry about being sold a BOB when a BOB is not good for him. He's a chip making dude not a financey BOB-knowing dude.

Let's be clear here - I realised that I was being sold a pup on my own here despite not knowing the differences between a PRB and a PRSA!

[V for Vendetta]

I would agree that people should put some research into understanding what they are getting, I think it impractical for all of their endeavours though. Also on top of that is the realisation that <MadeUpHigh%> of people park their brains at the door and are swindled so should and reality are at odds. You are basically saying caveat emptor and in this case particularly, where you are not paying somebody, that applies more than caveat venditor I suppose, and to whoever is reading this sorry, caveat lector.

love it btw!

[V for Vendetta]

Let's be clear here - I realised that I was being sold a pup on my own here despite not knowing the differences between a PRB and a PRSA!

Ah we're only hopping ball here with you as an example! Don't take offence Keane.

[Keane]

Ah we're only hopping ball here with you as an example! Don't take offence Keane.

Just so long as everyone knows I'm super smart...

[Tar.Aldarion]

Just so long as everyone knows I'm super smart...

https://www.youtube.com/watch?v=M54rv3hfIkc

[Emmet]

What should a 30 year old have in their pension pot?

Asking for a friend.

[Wombatman]

Might set the clock for 2:30am to catch the last hour of the baseball.

[TheDrunkenOne]

Might set the clock for 2:30am to catch the last hour of the baseball.

And miss Hendricks v Kluber!

[ghostface]

What should a 30 year old have in their pension pot?

Asking for a friend.

Also a 35 yr old while we're at it.

In unrelated news someone from New Ireland assurance I'd coming in next week to discuss our pensions. Number 1 query I should ask?

[Dice75]

Get the last word in

http://www.youtube.com/watch?v=xgiLm9bCxrU

[Keane]

Also a 35 yr old while we're at it.

In unrelated news someone from New Ireland assurance I'd coming in next week to discuss our pensions. Number 1 query I should ask?

'What's your lowest fee, unmanaged index fund available?' would be mine

[Raoul Duke III]

I'd buy that, but releasing documents or anything at this stage, with only vague explanations as to what harm is contained in them etc..., creates maximum suspicion with least time available for Clinton to dig herself back out.

Unless of course they have planned something that would completely sink Trump for the weekend media cycle .....

I simply cannot believe there isn't significantly worse shit out there on Trump.

There were rumours of The Apprentice tapes that were far worse than Pussygrabgate.

[Raoul Duke III]

What should a 30 year old have in their pension pot?

Asking for a friend.

Zero! Your friend's twenties were wasted otherwise.

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[dobby]

Zero! Your friend's twenties were wasted otherwise.

This post makes me feel good

[Emmet]

Zero! Your friend's twenties were wasted otherwise.

I think my Communion money is in a savings account somewhere

[Iago]

Zero! Your friend's twenties were wasted otherwise.

How's the hamster wheel treating you?

[NewApproach]

There's some absolutely silly stuff being thrown at Trump now - that he has a server in his office specially dedicated to communicating with Russia (his supposed overlords). Good job it's ending next Tuesday or there would be a civil war if it went any longer. There's no winners coming out of the whole thing though.

Was thrown out of a taxi in New Orleans the other day when we suggested Hillary should be elected for international diplomatic reasons. Prior to this the taxi woman said she would vote for Jesus if that was possible, but otherwise Trump was the obvious option and anyone who thought otherwise was "brainwashed".

[NewApproach]

Pretty opportune time to be on a flight to Chicago. Last (read: only) time I was at a game in Wrigley 5 years ago they were the laughing stock of the league and tonight they play for the World Series

[Raoul Duke III]

How's the hamster wheel treating you?

Touche.

You must be getting bored by now.

[mdoug]

I need the three priority tickets for Radiohead please. Three fucked up and didn't send me my code and are now saying it was sent, am abroad so cannot ring to complain.
If someone here is three and not availing of it please and thank you!

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[Iago]

Touche.

You must be getting bored by now.

Oh absolutely. But then I think of the alternative and pour another Cuba libre

[Denny Crane]

I need the three priority tickets for Radiohead please. Three fucked up and didn't send me my code and are now saying it was sent, am abroad so cannot ring to complain.
If someone here is three and not availing of it please and thank you!

Unless I'm missing something the presale for three is at the normal time at 9am Friday