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everready

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About everready

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    HPC Newbie
  1. Re read my previous post, Yes I did start as a plumber and I was stating some facts about some engineers that do some work for me, like i said I STILL do some plumbing work as I enjoy it but it is not my main income! ER
  2. I caught the end of the last recession actually, I learned fast that the construction industry was never going to make me wealthy (always got knocked) so I started another business (glad I did cos construction is on its ****), I still do some plumbing work but this only represents about 5% of my income. ER
  3. I am in no rush to get maried and have kids, I see too many friends that are unhapily married!. I am working at the monent but hope to take some time off when things start to get really bad in the uk, I would like to travel and help others. Not that I'd want to but I doubt 1m would provide enough for me to retire and have a good standard of living in the uk. The UK is just so dam expensive! ER
  4. Not sure why the advice changes with larger somes of money, would you advise the same if I had 200k? Like the idea about the offset mortgages tho. ER
  5. Some people seem to think it must be easy to get some good advice if you have a fair bit of cash but the reality its the complete oppitsite. Everyone is after there fat commission! The USD is a 3 year fix with ABN Amro (bought out by RBS) taken out some time ago, it could have expired by now as I haven't checked it in a while. I've done well holding USD also, hopefully it will continue. ER
  6. Maybe you need to get a grip, its a serious question what do I want with a big house, especially as it will probably lose a fair chunk more off its value in the next 1-2yrs? Like I want to spend all my (limited) free time mowing the lawn doing maintenance etc!. If you read the replies there are just as many posters advising to stay in cash as to buying property! I didnt just come into the money, I built a solid business, avoided debt and created wealth it didnt just land at my feet! I thought the HPC mantra was 'aviod get rich quick schemes' 'stop speculation' etc thats what I did and now its a problem? I'm sure many on this forum worry about there cash savings, because I have more than most I am not allowed to worry? ER ER
  7. Err, firstly I am not in to designer names and I never boast discuss my financial position with my friends. If I had made my money in property then I would expect some stick but thats not the case, why you giving me a hard time I only asked for advice? Would anyone seriously trust an 'independent financial advisor' ??? ER
  8. afraid not.. I have better things to do with my life than tell lies on an anonymous internet forum! ER
  9. I have never sat on my big wad wondering how I got there nor was it a massive inheritance! I started a business 10 years ago and have worked for every penny, I have made very little profit form property I STR banking 15k and sold of plan in abroad for a 90k profit the rest is earnt income. ER
  10. Trust me I really do enjoy my life and I already have the sports car I hold the cash only becauase I cant really pay it into the bank if you catch my drift. I do look at houses in the 1m price bracket but do I really want to kick around a massive house on my own even if i do pick one up -20%? Thats without thinking about the maintenance, fuel bils, etc! ER
  11. Ok I need some advice, I’m getting really concerned with the threat of inflation eroding the value of my hard earned cash. My situation is as follows: I’m 30 year old single bloke and I live in a rented apartment (£1300pcm) where I am really happy, have a professional landlord and can probably stay as long as I like. My assets are as follows (approx) £650k with HSBC instant access (next to no interest) putting the money in multiple accounts to spread the risk is not really an option £50k Stocks and shares ISA’s £45k NS&I index linked 3 & 5 year bonds £20k Gold £20k Silver £12k Cash (in a safety deposit box) $450usd (offshore 5.3% interest) The concern is that most of my assets are in cash and seeing as no one knows for sure if we are headed for inflation of deflation, if we get deflation obviously I’m in luck but if we get inflation I’m screwed! I’ve thought about using a big chunk to buy a home to live in but although I will have a need for a house in the future, wife kids etc but combined with continued falls in house prices and that I have no need or desire to own right now this is not looking a great idea. I never thought I’d think about BTL but I hate to say I am considering it, surely an asset that creates an income has gotta be better than my cash being decimated by this stupid government? Before anyone jumps on me this is not an ‘I am considerably richer than you’ post, I am in genuine need of advice. I have been reading this forum since 2004 and know there are many switched on people on this site and would be interested to hear some alternative views and opinions. Thanks ER
  12. I'm a car lover so dont really think about the money too much, I have two, 1 50k new(2 years old) and the other 86k new (1year old) I would never get into debt for a car as the depreciation is usually bad enough without having to worry about financing costs as well. Contrary to what most on this forum think not everyone who has a expensive car is up to there eyeballs in debt for it or bought it just to keep up with the jones's! ER
  13. I paid a little over list for a brend new R8 about a year ago, anyone who thinks they will get anywhere near list for a six month old car is simply deluded! They would be lucky if the bid was above 60k. I hate it when speculators buy cars in the hope of a quick profit... not much different to houses really.. ER
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