When is enough enough?
Posted: June 1st, 2021, 11:19 am
In the absence of any other Board I will use this one to comment on what I said on a financial Board.
There must come a time for us greybeards who continue to top up investment holdings with spare capital, usually derived I think from dividends which are surplus to requirements, to desist from this practice. I have never really done much topping up anyway as I am solely dependent on my dividends for day to day living but these days I more or less have surplus income and find myself giving more than I used to to charity (even if often that charity happens to a grandchild's birthday.) I can see no point in continuing to save if the cash reserves are deemed to be adequate and there is sufficient cash around for any major capital item which may be needed. Obviously kitchen appliances come to mind and maybe a replacement vehicle or major repair.
If we have all got through the 2008 crisis and then the 2020 Covid crisis we are presumably well enough funded for most emergencies. The question then arises in my mind, why would I need to keep buying more shares? After all, my estate will probably just have to pay more IHT and meanwhile my grandchildren could do with some help occasionally and certainly charities especially at the moment need as much help as they can get.
I do not want my name in lights and for all I give that will not happen but I like the personal satisfaction of giving money when I can afford it to various medical charities that are appropriate to me and my family.
What do others think?
Dod
There must come a time for us greybeards who continue to top up investment holdings with spare capital, usually derived I think from dividends which are surplus to requirements, to desist from this practice. I have never really done much topping up anyway as I am solely dependent on my dividends for day to day living but these days I more or less have surplus income and find myself giving more than I used to to charity (even if often that charity happens to a grandchild's birthday.) I can see no point in continuing to save if the cash reserves are deemed to be adequate and there is sufficient cash around for any major capital item which may be needed. Obviously kitchen appliances come to mind and maybe a replacement vehicle or major repair.
If we have all got through the 2008 crisis and then the 2020 Covid crisis we are presumably well enough funded for most emergencies. The question then arises in my mind, why would I need to keep buying more shares? After all, my estate will probably just have to pay more IHT and meanwhile my grandchildren could do with some help occasionally and certainly charities especially at the moment need as much help as they can get.
I do not want my name in lights and for all I give that will not happen but I like the personal satisfaction of giving money when I can afford it to various medical charities that are appropriate to me and my family.
What do others think?
Dod