kempiejon wrote:I'll keep my bank shares, they've been told not to issue their dividends by the regulator, it appears they argued and had their arms twisted. So I expect they'll resuming paying the dividends when they're allowed, I hope at an equivalent level they would have done without the interference. Selling now at the lowest point for years not only is unHYPic but it is slinging the money away I recon.
How to replace that lost income is the problem for HYPers, draw on the income reserve, look for reductions in spending or hopefully have started with more income than they actually needed such that they were getting a surplus to soak up some of the shortfall. A blend of all three will smooth the problem those living on their HYPs experience. It's a good experiment for me as I'm still employed looking to leave that and live off my investments soon. I've built up a cash fund to smooth downturns but I think I need to look how much surplus income is prudent.
You are right. Actually I normally do not pay much attention to my income v expenditure but I do keep tabs on how I spend my money and have done for the last three years or so since my wife died because I wanted to see where my money was going and how much I could afford to give my grandchildren each year. The figures have proved to be very helpful right now because for these years I have had a surplus of income which will now disappear I guess and I have already said that I will try to cut my expenses by around 25% which I believe to be achievable. Of the banks I only hold HSBC and there is no way I am selling any at under £4 for any reason. I think once a lot of retail sellers are out of the way there is no reason why the price should not rise to at least £6 as a value play. Not very HYP I am afraid.
Dod