Jump to content
House Price Crash Forum


  • Posts

  • Joined

  • Last visited

Everything posted by pathfinder

  1. It is also really important to understand how to use your free time before you get to retirement. It is fascinating how many people say they cannot learn something new (dancing I have 2 left feet, I am not musically inclined to learn an instrument). You spent 16 year at school learning for goodness sakes. Enjoy the gradual improvement in a skill, take it as part of the journey. It is better to have a set of hobbies and skills way before retirement. You do not have to spend time learning something alone. You already have a social circle in place. Any free time you have after that ... go learn something or take up a new activity.
  2. I have been doing 3 days a week (as has the wife) for 4 and a half years. We do a lot of dancing and jamming events (long weekends). Once you talk to the 60+ year old's you make sure you enjoy life while you can! Plenty of people I know have been screwed over by strokes, heart attacks, body giving up. Not sure I would straight out retire in my 50's. Got to sit down, rest, and have a cup of coffee sometime. May as well get paid drinking it, next to a laptop.
  3. Easy for someone to say I only get paid £23k from ... "this business" how many do they run? PAYE income is a small part of your Net Wealth, if you have managed to store up a a big pot of cash. Fergus gifts her money as a gift no limit. She buys a lot of shares just pays tax on capital gains. Its a classic to get paid a min salary, reinvest, claim as many losses against repairs.... then claim dividends isn't it?
  4. It is so weird to see how much crypto has changed since its inception. My understanding was it would enable you to travel around to different countries or websites. Your spending money stored away, avoiding exchange fees, and not tracked. Once transferred into bitcoin you new it had a value, at least you were unlikely to be caught short. Miners recovering bitcoin after its spent, paid a tip for their trouble. Mining is now a company thing, scaled up away from the people to saturation point. The other day my brother walked through the door. "yeah bro I am into Ripple" Blew my mind, love my bro but he usually can be a bit sketchy. Turns out he was gambling with its value on the smartphone. So the joke is instead of a store of wealth it is volatile enough to turn it into a coin flipping game. No doubt if people are buying in and out it extends the volatility. Such a shame.
  5. Hourly rate is key to pulling a 3-4 day week off for sure. To be honest getting to that point required 15 years of graft (2 people). And that was getting a mortgage in 2005 (2004 price). The cost of things now living/shelter is an abomination. No way we are going to compete on the world stage with all our great thinkers renting noisy rabbit hutches. Inventing the next best thing in an 8ft kitchen. No wonder people are off vlogging around the world rather than facing modern day slavery.
  6. Well my Contract (no am not an IR35, max dividend pirate) ended Last month, same place I worked in September 2008. Which was fine, other work was out there. By April 2009 it was a wipeout. Multiple projects mothballed by Clients. So could be pretty soon :O.Currently the firm is hiring Apprentices on mass, just like last time ... next up mass redundancies. The things that worry me about a crash this time is:- The easy work is given to Apprentices, they wreck it because no one is left to train / advise. I was still picking the pieces up from the last crash. No drawing had anything in the same place lol. Where does this lake go, well from what I can tell you have 4 optional locations and 3 shapes :D. Job roles have become design heavy, more stressful. Every time my holiday came up I worked right to the cusp to get things out (tbh the work was fun). But rates are falling already (probably from the last glut of apprentices earning their spurs). Can't see me working for less, rather just switch to a laid back job. Cost of travel. The Gordon Brown mobile workforce, that turned out well. Had a job permanent job offer £550 a month train travel, 30 min train journey ....erm no? I think Ill just hustle, do some interesting projects (got a 3d printer this year). Just wait this one out. Bit of luck I will not have to go back.
  7. I was doing 3 days Tue-Thu, and it was fantastic! Our holidays were almost all long weekends, wife was an Employee so gained holiday at the same time ?. The only thing that is shocking to me ...the large amount of brain drain even with a short week.
  8. I have seen a many one of a kind retail outlets established 20-80+ years just hit the wall. No doubt business rates gave them a good kicking. Cleansing is in full swing just it time to convert to housing, "Yippie". All aboard the, 'Every City high street looks the fricking same'. The irony is many of these were given best small business awards. Discount of your Business rates to help you compete .. hit the road face first. As always with this Government of the past multiple decades. They are completely, "Disconnected horse bolted gravy train bandits first, govern, meh not so much second".
  9. £500 is full survival mode (don't drive, no TV, no dependants). Defo £1000+ would be more like an acceptable existence. Either I start running a small business from home, 3 day a week job again, or a mixture of both, we'll have to see. Getting the old job (3 day a week) back will take 5 years if its like last time. The company went full on Apprentice's, as the main work was no longer coming in.
  10. Lost my job last week, feels like 2008 pre crash to me. My contract ended the same way 2008 (I am working in the same place again lol). work trickled down from manic to 1 day every other week. This work ranges from feasibility, flooding models, to sites modelled in 3D (lots of lakes, mounds, and paths) for construction. So either its far in the future investment or on site being built. Last time the investors for new projects just vanished .... here we go again :D. Our minimum out goings as a couple in 2008 was in the region of £1000 a month. Now the flat is paid off its just £500. We are fully hunkered down, if this is the one.
  11. heres a Gov article Feb 2018 looking into this. https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/articles/trendsinselfemploymentintheuk/2018-02-07
  12. Working at a Civil Engineer practice atm (4th time back :D). The place has gone full steam into pre-grads and school leavers. Employee boss got a 5% rise, I got nadda (contract). Last time i asked for a rate increase it took 8 months (there was no train travel, 20 mins from home so I let it slide). Currently I'm £5 below market rate and there is no agency so that's another £5-7 on top (their loss lol). This time round I am winding down ... and leaving the industry completely. Funny enough I was working at this place pre 2008. 6 months after my contract ended they laid off 80% of the bread and butter Technicians (CAD) and hired ..... yup a shed ton of pre-grads and school leavers.
  13. In a way they are. If your work no longer provides even the slightest luxury why work full time or at all? All aboard the gravy train. I have seen it more often now than in the actual start of the recession (part time tax credits).
  14. I think a crisis could occur from the value of money drastically decreasing lifestyle. While our Government spin plates worrying about middle class, and the elite’s housing investment. You know its fckd when a Kebab and a drink costs more than an hours work at minimum wage.
  15. I have told work I am winding it down by Christmas. Less than 1 day deadlines, Jumping around 6 different tasks as the priority shifts, Software unstable, used the same software for 23 years (I am bored), last agreed rate took 8 months to implement but the going rate has gone up £5 again, all this and the most unstable network drive I have ever seen. Now this is just 3 days a week, this month however I snapped! Got a few things I have always wanted to do as an income stream. Plus I liked a dabble in Ebay (got to £400 a month using 16 hours a month of my time).
  16. I am 43. Flat paid off, double digit isa. Next year or so I'll be topping partners isa preeping to max cgt efficiency, transferring both sipps up each year without cgt. I have a double digit sipp, double digit premium bonds. Been working 3 days a week for a few years. Xmas I'm giving it all up. Good life is £700 with no savings a month (I need to do better than that :D). Im rolling the dice . The, 'some people are more equal than others system can go do one'. Playing the game while paying as little tax as possible, that's my new focus.
  17. Tax rates as a whole, rent, financial traps everywhere (short-term loans, bolting short term fixed contracts to every contract you can imagine, to screw you as much as possible... etc) a system that views some people more equal than others. Government could not give two hoots. The company I workout has lost high quality staff left and right (big pay rises offered to stay, they all turned it down!). The reason, cost of living and property values in the local area. I used to pay my way, heck even as a contractor I would pay full NI rather than the dividend swizz. The flat is paid off, working 3 days a week, 5 figure some in the bank, I am out. This year I have pumping the pension so I claim back 30% of the tax paid via HRMC. Next year I plan to drop out of office work at least. Weirdly my middle brother has gone part time this year. Youngest is planning to try in April if work pay rise does not appear. I think the system has squeezed people to far.
  18. We have had a pretty balanced bread winning lifestyle. Top earner puts in the most into the joint account, both left with about the same spending money/savings. Share chores, pay debt off, work less. Never did get the career ladder thing. Go up have your soul removed, stress out, take up jogging, gym, and drown your sorrows at night, anything but go home to the partner. Get to retirement desperate to carry on the old job, because you know nothing else. Pftt. Be a bread maker not a bread winner.
  19. For me I was hoping for a system of fair exchange, mine some Bitcoin for laughs. What we got is a wobbly gambling free for all, mining taken from users and farmed by companies. Why does commodity or real opportunity have to go full Ponzi, its getting tedious.
  20. This is not 'Habit of Saving', this is 'No Full State Pension For You'. As if your not screwed enough with rent, they take your train ticket to get to work. In the 90's 00's you could bend the odds with your noggin on the stock market. Now you get data delayed, prices locked if they sink too fast, servers have already traded multiple times, people walk away from train wrecked banks unscathed. Now you hand it over for them to invest into funds. Buy £20 of stuff down the car boot sell it for £110 on ebay would be better advice. You know its screwed they target age groups . Funniest thing I heard was the council spouting use it or lose it for bus services, loads of oldies on it. When I was working £6.23p as a support worker I couldn't afford the monthly ticket, cycled it lol. If they want to fix pension motivation allow salary sacrifice with SIPP for sole traders, self employees, and an alternative to the company pension. ... nah
  21. I am outside of that demographic as usual (too much savings atm), got to laugh :D. But thanks for the tip.
  22. Im done, maxing Sipp payments over £11,500. So many schemes specifically not targeting my age group (although a lot are more headline grabbing than useful). Why cant everyone actually be equal is beyond me. Ill invest in chocolate tea pots before they'll get there hands on it.
  23. It is a mad world, 15 years ago I was knocking out 48 hours a week up to the occasional 60 hour. I would happily commute up to an hour around £60 train ticket. You are looking at £80-£130 now, London over £120 with underground. Its just not worth it. No way working from home was acceptable for contractors in those days. Current world, I work 3 days a week contract locally (about 80% of my career has been contract). If they are desperate I’ll do an extra day, work a full week, or remote work over the weekend. If I am sick I can bump my hours the next week if I want to, no pressure. If I am sick, cant get out the house but can think clearly I can remote work no problem. In the future 1+ years I am looking to work for myself, possibly travel for 3 months while running my Internet projects. I am looking at continuing my hobbies as i go. Anyway that is my choice we will see if it is possible. I do have 4 days a week free atm which is full of hobbies, trips, and family. I also think a recession is on the way, so it would be nice to have a few things rolling. £500 a month would enable an existence. So the thing is, when I read through this it is astounding how much I have changed, along with the work ethic and accessibility to work. I think I would have kicked back a bit tbh, but no way to this degree. It is a crazy world that a place to live, pension, currency is in tatters. Conversations with junior Engineer's, the under 30s are truly getting it. Statements like “This job can no longer support me long term”. what kind of bats**t statement is that! In the 90's you would have never heard that, the potential for brain drain out of this country is huge :(.
  24. Nothing worst than having my opinions of Government reinforced. At this rate I am getting tempted to throw my salary over 11k under Bus into a SIPP just so these bastards get as little income tax off me as possible, not giving two beeps if its wipe out time.
  25. So working making use of this site:- https://www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator#results Deposit £26,300 Loan £236,700 Normally you repay £1,373 per month. If you regularly overpay £500, you'd be mortgage free 6 years and 10 months earlier. Your total payment over this period would be £295,771. So your looking at £1,873 min a month to pull this off (a good £30k+ job, an thats just the loan not ,food, bills, entertainment). Now in 2004 Nationwide offered us £211,000 loan when we asked for £135,000. There was a very good reason we didn't take it. If a recession / extended job loss, 1 job would not cover the loan, forgetting living costs. We overpaid it off 12.5 years with £500-£1000 overpayment, some unemployment then a little inheritance finished off the last £10k. No kids, no cars, and long weekend holidays in the UK (dancing, walking, and music). This is possibly the most irresponsible article I have ever seen. No information on the actual loan, how much they intend to overpay. To top it off constantly repeating “buying”, “paid” … no it was a giant loan! It was almost like the overpayment comment was added afterwards. Would i take this bet now if i was there age, heck no! No wonder I do not read newspapers. There should be an anti media paper following up on stories with the papers name in bold.
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.