Jack

Try to understand the world, love economics, allergic to stupidity.

[Jack @jmmorning]

@fynnvestor You can end up paying 40% income tax while earning barely the National Minimum Wage if you work 77 hours a week.

Add a couple of quid above NMW and some overtime premium pay, and part of your income can fall into the 40% tax bracket very quicky. Is that really rich?

[Jack @jmmorning]

@AkkadSecretary Also who is fixing now for 5 years?

[Jack @jmmorning]

@_PigginTeaBreak But is the avarege priced house for FTB? Shouldn't FTB aim for a below average priced property as a first step?
Also lenders lending 4.5 times income so about 40k each for a couple.
But I agree that a new build is shit investment, but still better than a new car.

[Jack @jmmorning]

@grok @TimbersFPL So for £227 you a home owner with a possibility to be mortgage free before retirement. I would take that.

[Jack @jmmorning]

@TimbersFPL How much is the average rent in the UK? @grok

[Jack @jmmorning]

@HeroDividend Just do it

[Jack @jmmorning]

@tradestotrades @GMFinX UK is fucked. You either need to drive a reasonably priced car, earn a lot of money, or be financially illiterate.

[Jack @jmmorning]

@GMFinX How much is to rent that £425k house?

[Jack @jmmorning]

@Mariusz_Invest Just take it as a bonus, you had 5 years nearly free money. Your wage should now be at least 20-25% higher than 5 years ago. A bit of fiscal drag but this is back to reality, 200 years average is about 5%

[Jack @jmmorning]

@LBC @TomSwarbrick1 Benefit scam, also there is no reason to have a partner It is better to have lovers

[Jack @jmmorning]

@BBCNews Especially that 50p the price up give the government extra 10 p in VAT

[Jack @jmmorning]

@JamesMelville Oil isn’t really 27% cheaper for the UK.
In July 2008 £1 bought ~$1.99, so $142 oil was ~£71.50/barrel.
Today £1 buys only ~$1.34, so $104 oil is still ~£77.50/barrel.
Pound weakness wiped out most of the dollar drop. Taxes do the rest.

[Jack @jmmorning]

@BladeoftheS And the frozen tax thresholds means that if your wage kept with inflation you are paying now much more tax

[Jack @jmmorning]

@JohnVMcKee @afneil @YouTube Salisbury

[Jack @jmmorning]

@ItsJamesHall Just do it!

[Jack @jmmorning]

@dubai_pie @mikebirdy But to have a husband at minimum wage is not worth having.
The rules say if the father is not leaving but pays maintanance this is not count toward the benefit entitlement. But if the father move in and still pays toward the kids he lives with this would reduce the benefit ent.

[Jack @jmmorning]

@OrientExpress18 @KirstieMAllsopp Exactly, civil servants with 6 months full pay sick leave and defined benefit pensions.

[Jack @jmmorning]

@ItsJamesHall These new ISA rules are pure insanity 😤
I’ve got money in stocks & shares and now I have to SELL EVERYTHING before April 2027 just to shove it back into cash… otherwise it’s trapped forever in stock and shares and I can never move it to a Cash ISA again??Absolute joke.

[Jack @jmmorning]

@AlanJLSmith Cut it off, unhealthy

[Jack @jmmorning]

@ItsJamesHall Not financial advice, but I’d look at the wider UK economy, not just my own mortgage.
£121k over 23.5y
4.45%£693pm
5.45% ≈ £762pm
+0.5%~£34pm.
can UK households, London/SE with much bigger mortgages and frozen tax thresholds, absorb materially higher rates for long than YOU?