Back To The Future – how paying and saving has changed since 1985 but options to invest in gold are even better than ever. Bullion expert – Oliver Temple – plugs in his own flux capacitor to travel back in time
It’s 30 years since Marty and Doc time-travelled in the DeLorean using the flux capacitor to 2015 in the second instalment of Back To The Future.
Whilst some predictions such as hoverboards may have not entirely become reality, some indeed have.
This week Michael J Fox, who played Marty in the series, tried on Nike’s self-tying shoe laces. The revolutionary shoes are due to go on sale next year.
Another prediction in the film franchise was virtual reality headsets. Google has been developing – with a mixed response – these for some time. They believe the headsets will be ready for consumers soon.
We would have been amazed back in 1985 even to be able to have a device where you could watch TV, have your music library, photos and lots more on one little phone device.
How incredible that we can watch images in real time through web-cams which we take for granted. We can have video conversations through Skype and FaceTime, for free.
Don’t Even Need To Carry A Wallet
How we pay and save has changed too. Today we can buy items using our smart phones; we don’t even need to carry a wallet if we don’t have to.
Back in 1985, we were paying for items with cash and cheques. The number of cheques issued around that time was 11 million. Last year, it fell to 1.8 million. When was the last time you wrote a cheque? I’m not even sure where my personal cheque book is.
Debit cards which seem to have been around for a long time were actually first introduced to the UK in 1987.
What about ordering online? The first order for margarine, cornflakes and eggs was placed by a Gateshead grandmother – Jane Snowball – in 1984.
And pensions? Many in 1985 were lucky enough to enjoy final salary pension schemes. Some organisations still offer them but these are far and few between. Even the Civil Service has been changing their pension rules over the last few years.
Some employees may not have been contributing to their pension pots altogether but the Government is changing this with the introduction of workplace pensions. Every business no matter what size will need to offer a pension to their employees over the new few years.
We now also enjoy greater flexibility with our pensions more so than in 1985 with the Government introducing Self-invested personal pensions (SIPPs).
They allow people the freedom to manage and to choose their own investments themselves. SIPPs are more suitable for those who are experienced in investing with larger funds.
You can add for your SIPPs for instance:
• Some National Savings and Investment products
• Commercial property (such as offices, shops or factory premises)
• Unit trusts
• Insurance company funds
• Traded endowment policies
By investing in different ways through SIPP portfolios, it can in theory spread the risks. Gold, for instance, as we always advise should be thought as a medium to long-term investment strategy.
Spot gold prices as I wrote last week dropped in August but have now gradually been returning to the start of the year levels. Gold would therefore suit being included as part of a SIPP portfolio.
Whilst gold prices are low at the moment it may well be the time to invest in gold for SIPPs.
It’s probably just as well that the flux capacity was not powered by gold, otherwise who knows how much spot gold prices would be now.
Win Four Tickets To Watch England V New Zealand
We’re giving away four tickets for the England V New Zealand Rugby League game on Saturday 7 November 2015 at the Olympic Park Stadium, London.
As well as watching some undoubtedly superb international rugby, lucky winners will also be treated to a three-course dinner, champagne and enjoy guest speakers.
All you have to do to be in with a chance of winning is to buy gold from Gold Investments between now and 31 October 2015.
You will automatically be entered into the draw to win the four tickets if you purchased gold from Gold Investments from August 2015.
Don’t delay, invest in gold with from Gold Investments today.
Images from fotographic1980 and SOMMAI at freedigitalphotos.net