NoIs this true?
Banks don't like gamblers. There's a big difference between gambling and investing
They have no problems with people gambling with their health. The box ticking underwriter will sign you off on a 20 a day smoking habit cost €320 per month but they'll frown at a tenner a week on the lotto costing €40 per month.
Not the same:
(1) - They have insured against the risk of you dying from smoking related illnesses.
(2) - While both are addictions, gambling is something that can get way out of control, with people stealing and running up massive credit card debt to feed their habit. There is a limit to how much you can smoke in a day. There is no limit to how much you can bet.
Over 50s aren't required to have mortgage protection insurance.
I wouldn't. The post was about someone proving themselves right on the internet.Does that mean I can stop mine (as I'm over 50)?
TBH I was being facetious. As part of my Ts&Cs I have to have cover. I was just shaking the tree a small bit.I wouldn't. The post was about someone proving themselves right on the internet.
Does that mean I can stop mine (as I'm over 50)?
+ 1Inadvisable though for obvious reasons.
As an aside, you'll likely get a much better (and guaranteed tax free) return by overpaying your impending mortgage than investing in a post tax vehicle.
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