How's next year looking for you?

[Jelly_Sheffield]

Better to have the work lined up and be worrying about the financing than have the financing available and no work to use it on...hope it works out for you.

Oh absolutely, all variants of "too much work" are nice problems to have.

But it would have been nice if we had been warned or engaged about the financials in good time.

Then I could have had my team prioritise one of the large contracts and focus on winning some smaller fill-in work, rather than ending up with a choice between turning hard-won work away and betting the company on multiple huge contracts...

 

[Mikes]

Hi there, just wanted to draw your attention to the new posts on your Zollern Winch thread. I am new to the forum so don’t know if I can message your directly.

Sorry that I didn't get a notification bell of a reply to my thread so hadn't noticed your response.. I'm grateful to OJCar for putting a link here to it - top man. I'll reply to you in that thread.

 

[Munkul]

Well we've just done the possibly irresponsible thing of buying a house that we can only just afford, so all of the savings pots are wiped out and our disposable income will drop to practically nothing, for a few years. With kid no.2 ready to pop next week, we're locked in for the grind, for a long long time
The side business is looking ok. Not amazing, but ok. No massive projects on the horizon, but 25% of annual turnover already on the order books, I'll be busy for 2 months.

 

[steve t]

Good luck with it all munkul

 

[Climber]

I think, if nothing else, the younger ones here really need to look at how compounding intrest works, and realise we have plenty of time to capitalise on it, you don't have to rely on the state.

It is quite an eye opener when you see the general level of understanding of finance / business related matters of the membership here.

 

[More Amps]

It is quite an eye opener when you see the general level of understanding of finance / business related matters of the membership here.

No surprise when your living depends on it!

 

[Climber]

No surprise when your living depends on it!

I don't think I understand your reply. My point (possibly poorly worded) was that the general level of understanding of such things on this forum is surprisingly low.

 

[Blobber]

I don't think I understand your reply. My point (possibly poorly worded) was that the general level of understanding of such things on this forum is surprisingly low.

Thats a nice way to start 2025

 

[More Amps]

I don't think I understand your reply. My point (possibly poorly worded) was that the general level of understanding of such things on this forum is surprisingly low.

Then clearly you've been reading the wrong posts.

 

[Climber]

Then clearly you've been reading the wrong posts.

You don't see a fair proportion of the posts in this thread displaying a poor level of financial 'savvy'? For me, there is a distinct tone of "we poor workers can do very little to improve our situation at retirement" in several of the posts.

I'm deliberately not mentioning specific posts or members; it's nothing more than an observation of what I suspect is a reflection of the general poor level of understanding of such things among the general population.

I find it fascinating that with the resources available to everyone today, there isn't a better average level of understanding; nothing more, nothing less.

How many members do you think have a plan to hedge inflation for example (as a fraction of the regular posters)? My guess would be less than half.

 

[More Amps]

I find the first part of your post both condescending and patronising, but let's hear about your magic plan to hedge inflation.

 

[DanZac]

I find it fascinating that with the resources available to everyone today, there isn't a better average level of understanding; nothing more, nothing less.

How many members do you think have a plan to hedge inflation for example (as a fraction of the regular posters)? My guess would be less than half.

You could say that it's surprising that some members don't have a better understanding of electronics, or maths, or welding, or astro physics, or anything for that matter.

What makes it great here though, is that if you don't know, someone that does, will help you out and point you in the right direction.

We can't all know about everything, and maybe finances are of little interest, or beyond the reach of Mr average (if your only earning enough to live on, there's little point in following the stock market, because it's not something you can control).

You've obviously got some knowledge in this field, so as has already been suggested maybe you could give us a few pointers, instead of highlighting our lack of understanding.

Remember though, there's no point suggesting starting a pension fund at 18 when you've only got £10 a week to live on once you've paid your bills and fed yourself, because that tenner's going on tools and ale.

 

[Bullet2012]

How many members do you think have a plan to hedge

A real dilemma at chateau Bullet, I want box and SWMBO wants laurel.

 

[owas]

Remember though, there's no point suggesting starting a pension fund at 18 when you've only got £10 a week to live on once you've paid your bills and fed yourself, because that tenner's going on tools and ale.

... Stay at home

 

[Barking Mat]

How many members do you think have a plan to hedge inflation for example (as a fraction of the regular posters)? My guess would be less than half.

Couldn't figure out where to attach the compressor.

 

[My Old Landy]

I was lucky that in my 30's an accountant sorted out a couple of funds and a private pension. Thirty years later, I am comfortable but in such poor health my Mrs will be a merry widow. I have had no understanding of finances but I can design control systems for nuclear decontamination and electrostatic precipitators.

 

[bricol]

I have to admit I'm quite often surprised by the number of welders on here who seemingly somehow missed out on careers in their obvious speciality of running international corporations or even the country

 

[Morrisman]

It is quite an eye opener when you see the general level of understanding of finance / business related matters of the membership here.

I stopped paying into a pension of any sort when I went traveling world aged 29. For the next 15+ years all I did toward getting my old age sorted out was worry about it. Nothing positive.

Then the company I worked for changed ownership and we fell under the umbrella of Schlumberger, one huge company. They had a great pension scheme, so on advice from a friend I paid every possible cent I could into it.
12 years later I was laid off, and took my pension. And it was generous enough to live off quite easily in the far east where I lived at the time.

The only problem is it’s a fixed sum, every quarter, with no increases unless they feel generous occasionally. Which hasn’t happened for a decade or more.

 

[DanZac]

I have to admit I'm quite often surprised by the number of welders on here who seemingly somehow missed out on careers in their obvious speciality of running international corporations or even the country

There's Welders on here?

I thought it was just a forum for miscellaneous chit chat and miserable old men.

 

[roofman]

You don't see a fair proportion of the posts in this thread displaying a poor level of financial 'savvy'? For me, there is a distinct tone of "we poor workers can do very little to improve our situation at retirement" in several of the posts.

I'm deliberately not mentioning specific posts or members; it's nothing more than an observation of what I suspect is a reflection of the general poor level of understanding of such things among the general population.

I find it fascinating that with the resources available to everyone today, there isn't a better average level of understanding; nothing more, nothing less.

How many members do you think have a plan to hedge inflation for example (as a fraction of the regular posters)? My guess would be less than half.

Look forward to your request for help posts on welding/engineering/electrical as i am sure there will be an expert to help you out who also has no financial knowledge. Horses for courses chap