Off-Topic / Stock Market and Trading Talk [1011]


One thing does occur to me about WIG: given that the largest Polish companies are now being run by people picked due to their business ability rather than their ceaseless loyalty to the Party (and their willingness to spend whatever money the Party wanted spend and to set prices at levels the Party wanted), so it's not unlikely that the companies will start doing quite a bit better. Probably this has mostly already been priced in by the market, but we might well see WIG 20 giving returns more similar to WIG over the next few years, possibly even better.

Off-Topic / Stock Market and Trading Talk [1011]


The WIG 20 moved that much, the full WIG did more like 50 percent.

I think part of the problem with the WIG 20 is that many of the companies in it are state-controlled and so until recently had senior staff appointed based on political considerations than business ability.


I'm thinking trackers, CAC and DAX. Maybe SIX too. I noticed that ING offer some interesting options. The problem is that PPK is so much easier. No need to remember to make transfers each month. No need to calculate what 1% was that month. It's just taken off the top before money goes into my bank account.

Off-Topic / Stock Market and Trading Talk [1011]


I really do not understand the thinking there. The ticking pension timebomb in Poland are the people who run a dzialalnosc because they can pay less tax and then save nothing extra for their pension. When they retire they'll get the minimum state pension, which is about 1,300zl. How the f*ck is somebody supposed to live on 425zl a month?! It's good that 'entrepreneurs' can stick an extra 6k in their IKZE, but how many do actually put the full 15k in each year? I'd be guessing less than 10% do.


I've been in the PPK for about 4.5 years. Just checked my balance now: it's 221% of what I contributed. But the actual capital grown (i.e. the amount in there now compared to the total amount of contributions from me, the firm and the state) is only 26.7%, which isn't good over 4.5 years.

History / 20 years of Poland in the EU. [317]


I find them an improvement on the old style. No need to find somewhere to put the unscrewed top and no need to find an unscrewed top that has been put down. And now easier to seal crushed empty bottles, as nobody else in the house has thrown away or lost the top from a bottle.

And of course the additional benefit is that the new ones annoy the gammon.

Off-Topic / Stock Market and Trading Talk [1011]

I must admit that I looked at IZKEs once in detail and haven't had much more than the odd cursory glance since to see which are doing best. I generally just chuck in the full amount for each year when I get my tax refund.


What are your thoughts on PPK? I was vaguely thinking about increasing my contribution from the mandatory 2% to 3%, perhaps even 3.5%. Mostly because it's an easy way to save, the money is deducted before I get my salary transfer each month. But is it too lazy? I doubt I'd really notice much having 1% less money coming in each month but the PPK calculator suggests that going from 2% to 3% would result in an 800zl a month bump in pension, which would be more noticeable. But would putting that 1% somewhere else get a better return? And would I actually remember to take the necessary action each month?

Off-Topic / Stock Market and Trading Talk [1011]


Yes, but currency restrictions only apply to actual currency; when spending fantasy dollars Jim can buy whatever he wants.


That's not really a city I'd want to walk around with $10,000 in cash in my pocket. And who really wants to pay gold storage charges? In the unlikely event I wanted to invest in gold I'd be buying that virtual gold UBS offers.

BTW, mind if I ask which IKZE(s) you're in?

Off-Topic / Stock Market and Trading Talk [1011]


I'm not sorting NI gaps out: I've sorted NI gaps out. As of last March all back-payments were made and the 2023-4 payment made in April. So now it's just £3.40 a week until the 35 years is hit. And it's such a superb return: 2,500%!!! It's like being given the chance to go back in time to 2010 and buy Apple stock! Even Warren Buffett can't compare to that return.

By the way, which IZKE are you investing in? I've got mine with Goldman and they've lead the pack every year since 2017, zero maintenance fees too, but always good to get more information.

Law / Gun control in Poland: should Polish people be allowed to own guns? [1070]


You have that the other way round: if Europeans overwhelmingly voted to own guns, they would.

Do you seriously think there are enforced gun laws where Jon spends most of his time? LOL!

Off-Topic / Stock Market and Trading Talk [1011]


That time-frame wouldn't be a problem, but I really don't want more GBP exposure. I'll have the full 35 years of UK NI, so full UK BSP. At least the same number of years in ZUS, along with IKZE, PPK and PPO all giving PLN income. And then CHF from AHV and BV, but I won't max out the years there. Plus the portfolio (which certainly won't be in GBP).

Off-Topic / Stock Market and Trading Talk [1011]


Do they price units in GBP only? I've shifted everything apart from the UK NI payments to other currencies. Am planning to have UK BSP making up 25% to 30% of income, so don't want to have any further GBP exposure, just in case the pound tanks yet again.

Off-Topic / Stock Market and Trading Talk [1011]


Not quite the same thing. Unit trusts are priced once a day, but ETFs have real-time pricing.


They're better than OK. Only utter morons who think they know better than specialised experts try to pick specific stocks. But ETFs can be more risky when you start looking at the ones that focus on specific industries etc. Personally I just look to track the broad market.


I assume you mean she had some units in those trusts, rather than owning entire funds as Mystic Jimmy claims to. I mean, I knew your parents have a quid or three but I didn't realise you were one of the Rockefellers!

Off-Topic / Stock Market and Trading Talk [1011]


Good to see that even the thickest of financial illiterates has finally managed to get his head round the fact that one does not buy an exchange-traded fund. In fact, he's understood it so well, he now claims to have shares in some of the best performing funds!

But that does beg a few questions. For example, why was he trying to boast about getting 1% growth on certain shares over five days when the ETF he's now discovered got 3.3% in that same time? Anybody who understands opportunity cost would know that 1% growth when one could have got 3.3% is a loss. They'd be upset with themselves for trying to play expert and so missing out on a return three times as much if they'd just left their money in the hands of experts.

But, of course, when somebody only fantasy money they can put as much as they want in the 1% growth opportunity and as much as they want in the 3.3% growth opportunity and still argue that they won, because they made as much money as they wanted to! Pity that all of that added together still isn't enough to buy a bag of nails.

Off-Topic / Stock Market and Trading Talk [1011]


It really is uncanny, a fund even being mentioned by the Mystic Genius causes the price of units in it to drop immediately!

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Off-Topic / Stock Market and Trading Talk [1011]


One more time in case the financially illiterate are also actually totally illiterate:
ETF stands for exchange-trade fund. One does not buy the entire fund. One buys units in a fund (or funds).

Unless you're trading in fantasy billions, then you can buy as many funds as you want (but not the roofing nails you actually need, because the store wants real coins and dollar bills for those).

Off-Topic / Stock Market and Trading Talk [1011]


I should probably make something clear, just in case anybody is even half as financially illiterate as Mystic Jim: you do not purchase an ETF (excuse the dyslexia above), you purchase units in that fund.

Well, I suppose the superstar market gurus who have a different Lear jet for each day of the week might have their own ETFs.

Off-Topic / Stock Market and Trading Talk [1011]


Just in case anybody else is as financially illiterate as the Mystic Genius who boasted about getting return 50% below what the market offered:
an EFT is a type of tracker fund;
a tracker fund is a passive investment fund that aims to track a benchmark or market index (them being passive makes them cheaper to run than active funds, which try to pick the winners when it comes to share price movement); and
a market index measures how a stock market performs (some tracker funds track a market index or multiple market indices).

And a complete idiot who claims to be a financial guru despite knowing none of the above and not even being able to convert between two currencies is? That's right, it's our very own Mystic Jimmy!

Off-Topic / Stock Market and Trading Talk [1011]


Mystic Jim is so financially illiterate he doesn't even know the difference between a tracker fund and an EFT and a market index! What a f*cking retard!

Next thing he'll be boasting about the superb trades he's been pulling off on the ForEx market, when we've all seen that in reality he can't even convert CHF 100 into the correct number of US dollars! Hoot!

Off-Topic / Stock Market and Trading Talk [1011]


But how can one person be so stupid as to pretend for years to 'play the market' and still be so utterly ignorant of it that he tries to celebrate and boast about getting sub-market returns? It's beyond baffling. He gets a return of 1.5% when the market goes up by 3.5% and then he tries to paint that as winning!


If I ever do get round to shorting a stock on the basis that Mystic Jimmy has tipped it, I'll be taking 10% of the gain and using it to buy a few packs of these and have them delivered to his address:
amazon.com/Hillman-Group-42041-Galvanized-100-Pack/dp/B00PHHM4B4/

Off-Topic / Stock Market and Trading Talk [1011]


Anybody can boast about vastly under-performing. But only Mystic Jimmy is dumb enough to actually come here do it! He thinks it's a success to have made 300 fantasy dollars when if he'd just let actual experts invest his fantasy money, he'd have made more than $600! Hoot!

Off-Topic / Stock Market and Trading Talk [1011]


Now at 45.21 and +0.41 (0.92%) over past 5 days

Now 118.49 USD and +2.95 (2.55%) over past 5 days

But
S&P 500 is 5,561.52 and +184.54 (3.43%) over past 5 days
and
Dow Jones Industrial Average is 40,783.35 and +1,338.08 (3.39%) over past 5 days
and
NYSE Composite is 18,804.01 and +597.62 (3.28%) over past 5 days

So the mystic genius comes here to boast about his ability to produce returns that are an average of less than half what one can make by simply tracking the market indices! LOL! No wonder he can't convert between currencies, he thinks he's a genius for getting growth less than half of what one can make by not claiming to be an expert and letting actual experts invest one's money.

But I suppose that's something only those who actually have any money are aware of. Hoot!

Real Estate / Build a house Wrocław area [18]

That's an excellent conclusion to draw. Remember that free advice is often worth every penny you paid for it.

Real Estate / Build a house Wrocław area [18]


No. Otherwise every small business in Poland would officially be an Irish company and pay CIT only there. You do get full credit for tax paid in the UK, but you have to prove to the Polish tax office you owe nothing to them, which means monthly filing with them.


Use the search and look for the topics that interest you.

But you honestly really do need professional tax advice. Somebody was asking for recommendations there a week or so ago, should show up easily with a search.

Real Estate / Build a house Wrocław area [18]

That doesn't matter. You own and control the company. When you're a PL tax resident, the Polish tax office will class the company as a controlled foreign company (a CFC). CFCs here have tax liabilities here. You'll be required to keep PL tax records and submit those to the tax office here monthly.

Real Estate / Build a house Wrocław area [18]

To run a UK company in Poland you need a work permit (unless you can demonstrate that no work is done in PL). But a UK company run by a PL tax resident will be a foreign-controlled company and so need to file monthly tax returns in Poland (and pay taxes owed). So you'll need to keep two sets of books, at more than double the cost of a PL company.

I'd really suggest joining that Facebook group, many people there have moved to Poland and do run companies here (some also run UK companies). This forum currently has exactly two regular posters who have ever run any company in Poland.

Real Estate / Build a house Wrocław area [18]


Many reasons. All learned the hard way by various foreigners.


That route means you have to pay double taxes and fees. Actually, more like quadruple, as the future ones will be based on the value of the house and land rather than just the land.


No, it certainly does not. For example, EU citizens can work in Poland without getting any paperwork. The spouse of an EU citizen needs to get temporary residency and that can take up to two and a half years with the Wroclaw office. And you cannot work until you get your temporary residency.

Real Estate / Build a house Wrocław area [18]


You are not an EU national, so to buy land in Poland you need permission from the Minister of the Interior and Administration. You get that by applying to that ministry.


That's a terrible idea, for many reasons.

Real Estate / Build a house Wrocław area [18]

You'd do better asking on the "Brits in Poland" Facebook group. Few of the regular posters here live in Poland, most haven't even visited Poland.

One question: you are getting permission for you to buy the land aren't you?

UK, Ireland / Getting a UK state pension in Poland [37]


It's the deal of the century! I wouldn't like to try to live off 5,555zl but as one pillar of a pension here it would be OK. I reckon 5.5 from UK state pension, the same again from ZUS, and contributions from dipping into 20 years of maxed out IKZE, PPK and PPO, plus either income from selling off the portfolio or an annuity, one could live pretty well in Poland in one's golden years.

Off-Topic / Stock Market and Trading Talk [1011]


I mean, you've got to be cretin to screw up a currency conversion once. But to do it twice in a row? With the same currency pair? What an utter moron! And he then makes it clear how little he knows by claiming that US dollars can only be changed for Swiss francs outside the USA! Hahahahaha! We all know he's never been out of the USA, never been further than Florida (and not going there again soon if he can help it), but to not even know how to get his hand on foreign currency? He's even stupider than we could have dreamed! Hahahahaha!

Off-Topic / Stock Market and Trading Talk [1011]


Hahaha, the f*cking moron just piles clueless statement on clueless statement!! What an utter cretin! There is nowhere in the US where you can change Swiss francs into US dollars? Hahahahahah!!! How can anybody be that stupid? How can they be that financially illiterate?!