Has anyone benefitted from Coronavirus pandemic?

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CrazyIslander
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Has anyone benefitted from Coronavirus pandemic?

Post by CrazyIslander »

I'd say most Australia low to middle income families have. Lowered interest on mortgage, early access to superannuation tax free, less spending outside of home. Only if you haven't lost your job, however most people would've received some government assistance.
Couples in their 30s+ could potentially end up benefitting with by at least $50k+ in cash from the pandemic.
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Bindi
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Bindi »

CrazyIslander wrote:I'd say most Australia low to middle income families have. Lowered interest on mortgage, early access to superannuation tax free, less spending outside of home. Only if you haven't lost your job, however most people would've received some government assistance.
Couples in their 30s+ could potentially end up benefitting with by at least $50k+ in cash from the pandemic.
Accessing your savings when they're already taken a hit isn't a benefit.
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CrazyIslander
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by CrazyIslander »

Bindi wrote:
CrazyIslander wrote:I'd say most Australia low to middle income families have. Lowered interest on mortgage, early access to superannuation tax free, less spending outside of home. Only if you haven't lost your job, however most people would've received some government assistance.
Couples in their 30s+ could potentially end up benefitting with by at least $50k+ in cash from the pandemic.
Accessing your savings when they're already taken a hit isn't a benefit.
Considering that it'll be 30- 40 yrs before this age group will access it, wouldn't it be better to withdraw it and chuck it on the mortgage? Super doesnt grow by much anyway.
Canadian_Rugger
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Canadian_Rugger »

I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.
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Kiwias
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Kiwias »

Canadian_Rugger wrote:I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.
Banks will lend money to be invested in the stock market???
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shanky
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by shanky »

CrazyIslander wrote:
Bindi wrote:
CrazyIslander wrote:I'd say most Australia low to middle income families have. Lowered interest on mortgage, early access to superannuation tax free, less spending outside of home. Only if you haven't lost your job, however most people would've received some government assistance.
Couples in their 30s+ could potentially end up benefitting with by at least $50k+ in cash from the pandemic.
Accessing your savings when they're already taken a hit isn't a benefit.
Considering that it'll be 30- 40 yrs before this age group will access it, wouldn't it be better to withdraw it and chuck it on the mortgage? Super doesnt grow by much anyway.
Apparently, much (70%) of the money withdrawn was spent on discretionary items, including a big chunk on gambling
:shock:

So no, people can’t be trusted with their own retirement money.
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shanky
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by shanky »

Kiwias wrote:
Canadian_Rugger wrote:I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.
Banks will lend money to be invested in the stock market???

They will if you tell them you’re using it to renovate the bathroom. ;)
Canadian_Rugger
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Canadian_Rugger »

Kiwias wrote:
Canadian_Rugger wrote:I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.
Banks will lend money to be invested in the stock market???
Line of Credit with a VERY GOOD Interest rate.

Also in Canada at least, interest on loans used for investing is a tax deductible expense, as long as you use it for what the CRA considers "income generating assets". Stock dividends qualify as an income generating asset, so I am able to write off the interest on the loan as a tax deduction.

The Government considers investing a positive use of your money so they reward you with tax benefits for doing so. :D

You can also borrow on margin. Most people don't have good enough financial positions to make it worthwhile.
shanky wrote:
Kiwias wrote:
Canadian_Rugger wrote:I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.
Banks will lend money to be invested in the stock market???

They will if you tell them you’re using it to renovate the bathroom. ;)
You can even turn your mortgage in to a tax deductible investment vehicle if you secure an readvanceable mortgage with a HELOC :D
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Dark
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Dark »

Up until a few days ago, you could probably mount a good argument for one person.
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shanky
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by shanky »

Canadian profligacy will bring us all down!

:)
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flaggETERNAL
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by flaggETERNAL »

Haven't billionaires gotten even richer over the course of the pandemic? Bezos certainly has.
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sorCrer
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by sorCrer »

shanky wrote:
Kiwias wrote:
Canadian_Rugger wrote:I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.


Banks will lend money to be invested in the stock market???

They will if you tell them you’re using it to renovate the bathroom. ;)
That's what I did. Also, I have an app selling food which was growing nicely before C19 at around 5000 orders a month. This has tripled.
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shanky
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by shanky »

Nice. :thumbup:
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Taranaki Snapper »

In Australia, the big Supermarket, Liquor and Hardware chains...
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by fonzeee »

In a weird way I kind of did...my classes were made all pass/fail (i.e. write in complete sentences and you're good), I avoided having to perform slave labor for pennies on the dollar as would be expected of a typical legal intern but it likely won't negatively affect my CV as not having a gig in the summer normally would, leaving me the opportunity to work at the local supermarket a block from my house (where we've been getting an extra $2 an hour since we're what their PSAs refer to as "heroes" -- almost the amount I'd be making as an intern), a gig far less time and brain-consuming, allowing me plenty of needed R&R to do whatever I like and get smashed on an almost nightly basis.

Plus, I got an amazing deal on an apartment, going from the tenement I reside in now to a balcony on the 7th floor near the middle of a big-but-not-too-big part of the city, for only a few hundred dollars more.

If only the f**king gym was open...
Last edited by fonzeee on Sun Jun 21, 2020 7:14 am, edited 1 time in total.
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by mr bungle »

sorCrer wrote:
shanky wrote:
Kiwias wrote:
Canadian_Rugger wrote:I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.


Banks will lend money to be invested in the stock market???

They will if you tell them you’re using it to renovate the bathroom. ;)
That's what I did. Also, I have an app selling food which was growing nicely before C19 at around 5000 orders a month. This has tripled.
Great. What sort of food?
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Sandstorm »

He’s in SA. Cuisine obviously
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Torquemada 1420
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Torquemada 1420 »

The UK Govt. It has managed a erosion of civil liberty that it would have struggled to effect without this sustained campaign of deception and misinformation.
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Sandstorm »

Torquemada 1420 wrote:The UK Govt. It has managed a erosion of civil liberty that it would have struggled to effect without this sustained campaign of deception and misinformation.
Nonsense. Before Covid we blamed the EU
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Torquemada 1420 »

Sandstorm wrote:
Torquemada 1420 wrote:The UK Govt. It has managed a erosion of civil liberty that it would have struggled to effect without this sustained campaign of deception and misinformation.
Nonsense. Before Covid we blamed the EU
The EU wasn't eroding civil liberties per se. It was simply a side effect of centralised control whereby the intended benefactors of a particular policy (e.g. Spanish fishermen) would always have a counter group of losers e.g. those who powerlessly watched the Armada steal all their inshore stocks.
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by bimboman »

Torquemada 1420 wrote:The UK Govt. It has managed a erosion of civil liberty that it would have struggled to effect without this sustained campaign of deception and misinformation.

Many governments...



The UK lockdown was a piece of piss compared to many Balkan or east European countries. Even the lockdowns in Spain, Italy were much stricter.
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Sandstorm »

Torquemada 1420 wrote:
Sandstorm wrote:
Torquemada 1420 wrote:The UK Govt. It has managed a erosion of civil liberty that it would have struggled to effect without this sustained campaign of deception and misinformation.
Nonsense. Before Covid we blamed the EU
The EU wasn't eroding civil liberties per se. It was simply a side effect of centralised control whereby the intended benefactors of a particular policy (e.g. Spanish fishermen) would always have a counter group of losers e.g. those who powerlessly watched the Armada steal all their inshore stocks.
Hippy :thumbdown:
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Torquemada 1420
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Torquemada 1420 »

bimboman wrote:
Torquemada 1420 wrote:The UK Govt. It has managed a erosion of civil liberty that it would have struggled to effect without this sustained campaign of deception and misinformation.

Many governments...



The UK lockdown was a piece of piss compared to many Balkan or east European countries. Even the lockdowns in Spain, Italy were much stricter.
Agree. Surprising for Spain and Italy with their long records of liberal leaders.......
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by bimboman »

Torquemada 1420 wrote:
bimboman wrote:
Torquemada 1420 wrote:The UK Govt. It has managed a erosion of civil liberty that it would have struggled to effect without this sustained campaign of deception and misinformation.

Many governments...



The UK lockdown was a piece of piss compared to many Balkan or east European countries. Even the lockdowns in Spain, Italy were much stricter.
Agree. Surprising for Spain and Italy with their long records of liberal leaders.......

Well that’s true. :lol: , Portugal also did well.
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by massive_field_goal »

Also in Canada at least, interest on loans used for investing is a tax deductible expense, as long as you use it for what the CRA considers "income generating assets". Stock dividends qualify as an income generating asset, so I am able to write off the interest on the loan as a tax deduction.

The Government considers investing a positive use of your money so they reward you with tax benefits for doing so. :D

You can also borrow on margin. Most people don't have good enough financial positions to make it worthwhile.
this is really scary. it's 1929 all over again.
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Kiwias
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Kiwias »

I do a fair bit of day trading and had cashed out early in the year. I picked 3 small stocks involved in producing either vaccine or treatment for covid 19 (obviously all in the early stages) and have doubled my investment funds.
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by sorCrer »

mr bungle wrote:
sorCrer wrote:
shanky wrote:
Kiwias wrote:
Canadian_Rugger wrote:I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.


Banks will lend money to be invested in the stock market???

They will if you tell them you’re using it to renovate the bathroom. ;)
That's what I did. Also, I have an app selling food which was growing nicely before C19 at around 5000 orders a month. This has tripled.
Great. What sort of food?
Upmarket take-away, pizza, pasta, grill etc
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lorcanoworms
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by lorcanoworms »

I know some young people who are finding the €350 covid payment a good cushion while updating their skills doing courses etc.
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by jambanja »

The mother in law was due to visit from the UK...so yeah
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Pat the Ex Mat
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Pat the Ex Mat »

CrazyIslander wrote:Super doesnt grow by much anyway.
Lol Wut?

:lol:
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Uncle Fester
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Uncle Fester »

Canadian_Rugger wrote:
Kiwias wrote:
Canadian_Rugger wrote:I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.
Banks will lend money to be invested in the stock market???
Line of Credit with a VERY GOOD Interest rate.

Also in Canada at least, interest on loans used for investing is a tax deductible expense, as long as you use it for what the CRA considers "income generating assets". Stock dividends qualify as an income generating asset, so I am able to write off the interest on the loan as a tax deduction.

The Government considers investing a positive use of your money so they reward you with tax benefits for doing so. :D

You can also borrow on margin. Most people don't have good enough financial positions to make it worthwhile.
shanky wrote:
Kiwias wrote:
Canadian_Rugger wrote:I have immensely, mostly with my investments. I have been in a very good financial position for a number of years, no debt, heavy in to investing with a very secure job. With the insanely low interest rates, I made the decision to take a loan through the bank and picked a basket of stocks I was interested in and thought would do well. Some were absolute steals at the time. Made a lot of money on the rebound.
Banks will lend money to be invested in the stock market???

They will if you tell them you’re using it to renovate the bathroom. ;)
You can even turn your mortgage in to a tax deductible investment vehicle if you secure an readvanceable mortgage with a HELOC :D
I. Am. Flabbergasted.
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assfly
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by assfly »

The entire population of Burundi after it killed their nutjob president.
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Nieghorn
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Nieghorn »

Well I've not spent as much on fuel, knocked a bit off my insurance, and stopped payments on my parking pass at work. Marginal gains, right?
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julian
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by julian »

In my case daily expenses have been reduced big time so I have extra cash to invest in outstanding wine.... :D :D

Also some restaurants/grills have to find the way to survive as Don Julio

https://www.theworlds50best.com/the-lis ... 's%2050,34

which opened its steaks/meats storage to be sold to the public raw, so put some capital there and bought steaks, beef ribs, etc. etc :D :D
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by C69 »

Work has been horrendous and I have hated every minute of the lock down.
I need a break from work my family and myself. Worst time ever. :(
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CrazyIslander
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by CrazyIslander »

shanky wrote:
CrazyIslander wrote:
Bindi wrote:
CrazyIslander wrote:I'd say most Australia low to middle income families have. Lowered interest on mortgage, early access to superannuation tax free, less spending outside of home. Only if you haven't lost your job, however most people would've received some government assistance.
Couples in their 30s+ could potentially end up benefitting with by at least $50k+ in cash from the pandemic.
Accessing your savings when they're already taken a hit isn't a benefit.
Considering that it'll be 30- 40 yrs before this age group will access it, wouldn't it be better to withdraw it and chuck it on the mortgage? Super doesnt grow by much anyway.
Apparently, much (70%) of the money withdrawn was spent on discretionary items, including a big chunk on gambling
:shock:

So no, people can’t be trusted with their own retirement money.
That's another thing. You can't gamble anymore because all the gambling outlets/casinos/gamimg are closed. I suspect a lot of people are saving a lot of money. I saw somewhere on gaming machines alone Australians are saving $38m a day.
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CrazyIslander
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by CrazyIslander »

Pat the Ex Mat wrote:
CrazyIslander wrote:Super doesnt grow by much anyway.
Lol Wut?

:lol:
Relative to the growth of your house etc.
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Pat the Ex Mat
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by Pat the Ex Mat »

CrazyIslander wrote:
Pat the Ex Mat wrote:
CrazyIslander wrote:Super doesnt grow by much anyway.
Lol Wut?

:lol:
Relative to the growth of your house etc.
:frown:
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eldanielfire
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by eldanielfire »

To be honest, my workload has dropped a ton. The whole thing was worrying at first but this weekend I've got to relax and consider using my free time more as I have more definite outline of events until September.
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CrazyIslander
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Re: Has anyone benefitted from Coronavirus pandemic?

Post by CrazyIslander »

Pat the Ex Mat wrote:
CrazyIslander wrote:
Pat the Ex Mat wrote:
CrazyIslander wrote:Super doesnt grow by much anyway.
Lol Wut?

:lol:
Relative to the growth of your house etc.
:frown:
You're better off getting the money now plus the limit is $10k but you can get it twice. So only some of your super. Not all of it.
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