How immediately affected are you by Brexit?

[DaveShoelace]

Thought I'd start a more fiscal version of the politics thread so as not to derail it, where we can give a few pointers to each other at uncertain times.

I reckon I'm probably more affected by Brexit than most:

*Main job is for a Israel owned, Germany founded, Gibraltar based poker business, that pay me in dollars.
*Wife works for an Italian company that services the UK.
*Got a mortgage which is due for remortgage in just under 2 years.
*Main side income is writing books with an American chap where we ship a lot of European orders.
*I financially support my mother a little bit as her pension doesn't quite cover all her bills, in the very immediate future we had planned to downsize her house for this reason.
*By sheer coincidence, a bunch of my closest friends all happen to work for HSBC, whom I believe are threatening to lose 70,000 jobs.

My first port of call this week will be to look at an early remortgage fixed for five years, if the penalties are not too much.
God knows my plan of action with my Mum yet.
Beyond that, I'm just going to work twice as hard, try and open a few more doors and save more.
The guys at my main job seem confident that things wont be immediately affected by all this, but obvs being in Gib opens up all sorts of possible scenarios in the future.

Obviously I have had a noticeable pay rise because of getting paid in dollars, so the difference on what I usually get is going straight in a savings account.

Hopefully in a years time I'll laugh at how over prepared I was, but better to be the Ant than that Corybn-ista Grasshopper (joke).

Ok your turn, how are you impacted by Brexit and will you do anything differently?

[Woodsey]

No change for me really. Our CEO sent us an email on Friday reassuring us it was business as usual which I have no reason to disbelieve.

I upped my pension payments a lot at the start of this year, but that is just a coincidence.

Could probably do to have a bit more saved that I could get my hands on immediately if required but hey ho, the way I see it is any spare income not paid into a pension is just pissing money away really....

[PokerBroker]

I don't expect there to be much difference in the short term. 

At work on Friday I was quite busy, although felt like a burst ball due to staying up all night to watch the coverage.  I did manage to book 6 decent sounding appointments for tomorrow and Wednesday due to people starting to worry about their mortgages.  I had a wedding yesterday so had to take today off but thinking that may have been a mistake now as I fancy it will have been busy today. 

The downside to me, I think is after the initial shock the housing market is likely to slow down.  I think re-mortgages will be fairly busy. 

[Doobs]

It is hard to say.

I took an immediate hit on my savings and pension.   

I expect a few companies will initiate hiring freezes.  It pretty much happens every time there is an economic crises.  I suspect in a couple of years there will be more work, particularly if some fool decides we need lots more new legislation. Fwiw I think ripping up the rule book again really would be stupid, but there should be some tinkering round the edges.

I bought my dollars before brexit, and bet on brexit so gained there.

Long run, not sure if will make a massive difference.  Short term  might be a bit shitty.

[vegaslover]

hmmm...at this very point hard to say.
Until the end of March, had spent the past 20 years in the NHS on a contracted basis. Left to have 2 main income streams property development and 'bank' work for NHS / Agency.

Developed latest property April/May and been on market since end of May. Market has been VERY quiet, with everyone waiting for the Brexit vote. Have followed my local housing market very closely for past 4 years and never seen demand so flat (this would even include recession years).

Most of my money tied up in this (including my wages for past 3 months). Now a wait and see, but if not sold by end of summer, property goes on rental market and will be snapped up with a decent yield.
However this affects future developments as need the working capital to take on further projects.

Leave is good for NHS as TTIP likely not pursue in short term, which effectively fks it completely.
It could be said that my 'stock' rises with leave and a limit on immigration, but this is all bollocks. Most of the foreign workers in my sector come from Africa anyway and that is pretty much unrestricted.

[arbboy]

Made a potential last minute trip to Vegas a no no financial given the dollar rate.  Keep the money in the UK and boost the economy.

[vegaslover]

Made a potential last minute trip to Vegas a no no financial given the dollar rate.  Keep the money in the UK and boost the economy.

Yeah, same here. Was looking to go end of summer or Autumn, but the rate now, along with how expensive Vegas has got past 2 years, makes it a no-go

[Jon MW]

There's always going to be a chance of a recession causing redundancy - but the only immediate effect of Brexit on us is that we've already booked our honeymoon in Italy next year. I was kind of hoping for the Euro to hit 1.5 by the time we had to check out of the hotel but now I've had to change that to hope it at least doesn't go down to 1:1 by then :/

[atdc21]

My house is paid for so no probs there.
Work is not affected.
Shares have took a hammering tho.

[vegaslover]

hmmm...at this very point hard to say.
Until the end of March, had spent the past 20 years in the NHS on a contracted basis. Left to have 2 main income streams property development and 'bank' work for NHS / Agency.

Developed latest property April/May and been on market since end of May. Market has been VERY quiet, with everyone waiting for the Brexit vote. Have followed my local housing market very closely for past 4 years and never seen demand so flat (this would even include recession years).

Most of my money tied up in this (including my wages for past 3 months). Now a wait and see, but if not sold by end of summer, property goes on rental market and will be snapped up with a decent yield.
However this affects future developments as need the working capital to take on further projects.

Leave is good for NHS as TTIP likely not pursue in short term, which effectively fks it completely.
It could be said that my 'stock' rises with leave and a limit on immigration, but this is all bollocks. Most of the foreign workers in my sector come from Africa anyway and that is pretty much unrestricted.


edit... Looking ahead at housing market. House builders are concerned at share price drop, financing etc and are considering stopping building. - Will likely lead to price rises, not drops, as demand hasn't gone away..

[Doobs]

It is hard to say.

I took an immediate hit on my savings and pension.   

I expect a few companies will initiate hiring freezes.  It pretty much happens every time there is an economic crises.  I suspect in a couple of years there will be more work, particularly if some fool decides we need lots more new legislation. Fwiw I think ripping up the rule book again really would be stupid, but there should be some tinkering round the edges.

I bought my dollars before brexit, and bet on brexit so gained there.

Long run, not sure if will make a massive difference.  Short term  might be a bit shitty.

Just had a result.   I couldn't remember if I had paid for the vegas hotel in advance.  Turns out I did and paid in pounds.  Running good on all things vegas so far, though obv resort fees/overspends could still be a bit of a hit.

[strak33]

Yeah but shiny new hospitals and no immigrants right?

Also i feel totally in control of my country.

[Graham C]

Not really that affected just yet.  My Royal Mail shares are down but then so are everyone's shares.  It's annoying though, I'd waited ages for them to get above 500 and stay there.

Going to the US in August but most things are paid for bar a couple hotels for a couple of nights.

Longer term I'm keeping my fingers crossed my business isn't too badly effected.

[hhyftrftdr]

Probably only have 4 trips away next year instead of squeezing in the usual 8 or 9.

Depressing times indeed.

[RED-DOG]

An old bloke who's house is festooned with 'Vote Out' signs told me that I could fuck off back to Romania now.