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Is There Any Point In Working Anymore?

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I thought i would ask the question, there is many, are thousands upon thousands, who if sold up, or cashed in all their chips, could probably have on average between £150k and £750k, min to max.

The average persons age who could hold this wealth say 38 to 58, min to max.

So on average relative to my "plucked out of the air min to max range"

A 48 year old with £450k sitting in the bank after cashing in all chips?

Would you work again, what would you do, an interesting feedback, may apply to some?

Panda.

Edited by Panda

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We are lower end of age range and have lower end of amount having STR in Nov 07 & my husband is currently not working and if he does again then it will be in the public sector (probably retrain as a teacher - was a graphic designer for a private firm made redundant at the same time that we sold up). I am a nurse.

However how safe is amount sitting in the Bank? (Bank witholds "instant access" account funds, 2 month delay on any and all withdrawls http://www.greenenergyinvestors.com/index....showtopic=7555) A current worrying development in the banking world.

We have moved 35% of our money out of the banking system and when the rest matures in its fixed bond will also move most of that into something safer (which is not a house) and hopefully not have to rely on borrowed money or work again.

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We are lower end of age range and have lower end of amount having STR in Nov 07 & my husband is currently not working and if he does again then it will be in the public sector (probably retrain as a teacher - was a graphic designer for a private firm made redundant at the same time that we sold up). I am a nurse.

However how safe is amount sitting in the Bank? (Bank witholds "instant access" account funds, 2 month delay on any and all withdrawls http://www.greenenergyinvestors.com/index....showtopic=7555) A current worrying development in the banking world.

We have moved 35% of our money out of the banking system and when the rest matures in its fixed bond will also move most of that into something safer (which is not a house) and hopefully not have to rely on borrowed money or work again.

Can you tell us what this 'something safer' might be?

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I thought i would ask the question, there is many, are thousands upon thousands, who if sold up, or cashed in all their chips, could probably have on average between �150k and �750k, min to max.

The average persons age who could hold this wealth say 38 to 58, min to max.

So on average relative to my "plucked out of the air min to max range"

A 48 year old with �450k sitting in the bank after cashing in all chips?

Would you work again, what would you do, an interesting feedback, may apply to some?

Panda.

I am in this position, have currently chosen to stop working, and am considering not doing orthodox work again. Some of the things I would like to go on to do are sometimes called work but I don't think that this is true.

A rule of thumb is that if you are ok on taking 1% from your investments then you can maintain your lifestyle indefinitely. That's where I am atm but there is not a great degree of elbow room with 1%.

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I am in this position, have currently chosen to stop working, and am considering not doing orthodox work again. Some of the things I would like to go on to do are sometimes called work but I don't think that this is true.

A rule of thumb is that if you are ok on taking 1% from your investments then you can maintain your lifestyle indefinitely. That's where I am atm but there is not a great degree of elbow room with 1%.

What does that mean? A guess, if you had say £450k, then taking Gross annual yield plus one percent of the capital annually?

So after year one, youi have £445500.00?

So 450k@4% minus tax = £14400+1% capital take£4500+personal allowance£1500.00=£20400.00 annually? Not bad

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What does that mean? A guess, if you had say £450k, then taking Gross annual yield plus one percent of the capital annually?

So after year one, youi have £445500.00?

So 450k@4% minus tax = £14400+1% capital take£4500+personal allowance£1500.00=£20400.00 annually? Not bad

This is fine to start with, but you are taking a pay cut each year, so as your capital dimishes, so does your yield and your 1% capital take, that along with inflation? For this to work, your capital take has to increase inline with inflation, otherwise you are getting poorer, by this i mean your living standards would have to drop, as well as your capital lump taking a hit?

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I thought i would ask the question, there is many, are thousands upon thousands, who if sold up, or cashed in all their chips, could probably have on average between �150k and �750k, min to max.

The average persons age who could hold this wealth say 38 to 58, min to max.

So on average relative to my "plucked out of the air min to max range"

A 48 year old with �450k sitting in the bank after cashing in all chips?

Would you work again, what would you do, an interesting feedback, may apply to some?

Panda.

great until the Govt orders the banks to delete all deposit records. IMO is 3-5 years away :ph34r:

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What does that mean? A guess, if you had say £450k, then taking Gross annual yield plus one percent of the capital annually?

So after year one, youi have £445500.00?

So 450k@4% minus tax = £14400+1% capital take£4500+personal allowance£1500.00=£20400.00 annually? Not bad

This is fine to start with, but you are taking a pay cut each year, so as your capital dimishes, so does your yield and your 1% capital take, that along with inflation? For this to work, your capital take has to increase inline with inflation, otherwise you are getting poorer, by this i mean your living standards would have to drop, as well as your capital lump taking a hit?

No, I mean take 1% only. So if inflation is 3% then for each £100k of investments:

Opening £100k

Take (£1k) + Required return £4k + Negative effect of inflation (£3k) = £0k.

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No, I mean take 1% only. So if inflation is 3% then for each £100k of investments:

Opening £100k

Take (£1k) + Required return £4k + Negative effect of inflation (£3k) = £0k.

Lost me there, no income, but capital preservation yes against inflation, but no income, you die a rich man, great? :(

Rather live a little, take capital annually, die a poor man! ;)

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Lost me there, no income, but capital preservation yes against inflation, but no income, you die a rich man, great? :(

Rather live a little, take capital annually, die a poor man! ;)

I regard the capital as contingency Panda and future-proofing for when I cannot make the required return. I will probably start drawing upon it when my pension approaches, but that's 20+ years away so I don't want to take risks atm.

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I`m 50 with 1/4 mln. Last year I had 5-6% net returns from savings, this year it halved. I live abroad at the moment and I`m thinking of returnig, buying a house and doing few more years of p/t work. So its not enough.

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I thought i would ask the question, there is many, are thousands upon thousands, who if sold up, or cashed in all their chips, could probably have on average between ?150k and ?750k, min to max.

The average persons age who could hold this wealth say 38 to 58, min to max.

So on average relative to my "plucked out of the air min to max range"

A 48 year old with ?450k sitting in the bank after cashing in all chips?

Would you work again, what would you do, an interesting feedback, may apply to some?

Panda.

I'm sort of in this position myself, although most of mine is tied up in property. :lol: The big problem is that you cannot predict the future and if inflation did rise to something 10%, your lump sum will disappear very quickly. Best to keep your hand in with some type of work if only part time not just for the money but for the boredom factor too.

Edited by markinspain

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I'm sort of in this position myself, although most of mine is tied up in property. :lol: The big problem is that you cannot predict the future and if inflation did rise to something 10%, your lump sum will disappear very quickly. Best to keep your hand in with some type of work if only part time not just for the money but for the boredom factor too.

If inflation is high, wage inflation that is, you can bet interest rates will be high, like for like, parity more or less if you shop around, i don't buy this inflation will kill you cash, well not till the next big housing boom, and that is at least 10 years off, wages are falling for now!

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I suggest working just part-time, 16 to 18 hours is enough for me. Working full time or not working at all would drive me round the bend.

Yeah I know, I'm a council dweller etc.

Also, I don't keep any Gbp. The Pound; it go down.

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Guest UK Debt Slave

The whole system is a gigantic train wreck

I have no confidence in our monetary system surviving beyond the next 18 months/2 years

People with pensions have unwittingly allowed their contributions to be squandered on junk. They will lose everything

Banks are not safe either.

Working for a living is a complete joke as far as I'm concerned. They steal 60% of everything you earn in taxes. Another chunk is interest on mortgage debt that the banks counterfeitted into existence.

I own some land in Oregon debt free. We have services and sewerage. I'm just waiting for my paperwork to go through before I sell up everything in the UK and leave for good. This is assuming I can make good my plan before everything collapses competely. I'm just praying I can get out before the whole rotten stinking pile of trash collapses into the cesspit of corruption and criminality that will rape the people of everything.

Is it worth working for a living?

Absolutely not

It's a rigged game and they have a contrived a system so parasitic and draining, it really isn't worth dragging yourself out of the pit every morning to play their commerce game, their rigged Monopoly game.

Fekk em

Fekk em all

And worst of all, the dumb bovine masses will just play along with the plans of their masters. They wont resist. They will take it up the ar$e until the bankers and the political elite have taken everything.

I currently work full time for an engineering company. It is a microcosm of what has happened to the whole country. It has borrowed huge sums of money to expand, not for the genuine reason of developing its product into reality but to boost its share price before the directors cut and run. They'll doubtless walk away from this debacle with their pockets full of cash. Their investors and employeees will end up screwed just like everyone else.

I cringe every morning waking up and participating in this game. It's utter fekkn madness.

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The whole system is a gigantic train wreck

I have no confidence in our monetary system surviving beyond the next 18 months/2 years

People with pensions have unwittingly allowed their contributions to be squandered on junk. They will lose everything

Banks are not safe either.

Working for a living is a complete joke as far as I'm concerned. They steal 60% of everything you earn in taxes. Another chunk is interest on mortgage debt that the banks counterfeitted into existence.

I own some land in Oregon debt free. We have services and sewerage. I'm just waiting for my paperwork to go through before I sell up everything in the UK and leave for good. This is assuming I can make good my plan before everything collapses competely. I'm just praying I can get out before the whole rotten stinking pile of trash collapses into the cesspit of corruption and criminality that will rape the people of everything.

Is it worth working for a living?

Absolutely not

It's a rigged game and they have a contrived a system so parasitic and draining, it really isn't worth dragging yourself out of the pit every morning to play their commerce game, their rigged Monopoly game.

Fekk em

Fekk em all

And worst of all, the dumb bovine masses will just play along with the plans of their masters. They wont resist. They will take it up the ar$e until the bankers and the political elite have taken everything.

I currently work full time for an engineering company. It is a microcosm of what has happened to the whole country. It has borrowed huge sums of money to expand, not for the genuine reason of developing its product into reality but to boost its share price before the directors cut and run. They'll doubtless walk away from this debacle with their pockets full of cash. Their investors and employeees will end up screwed just like everyone else.

I cringe every morning waking up and participating in this game. It's utter fekkn madness.

Why is the USA better than here?

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The whole system is a gigantic train wreck

I cringe every morning waking up and participating in this game. It's utter fekkn madness.

Nice post! ;) I agree it ain't worth it, spend what you have, if you have time left once its gone, then do what we are all believed to be doing, claim claim claim? :(

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Is it worth working for a living?

There is plenty of point in working - nice cars/wife/hobbies/motorbikes/holidays/treats for the kids.

Your choice is how much you are taxed (employee, limited company, partnership etc) and what you do for a living. Can't see it being majorly different in stable developed countries.

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Guest UK Debt Slave
There is plenty of point in working - nice cars/wife/hobbies/motorbikes/holidays/treats for the kids.

Your choice is how much you are taxed (employee, limited company, partnership etc) and what you do for a living. Can't see it being majorly different in stable developed countries.

Nice if you can afford those things

I can't

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This is fine to start with, but you are taking a pay cut each year, so as your capital dimishes, so does your yield and your 1% capital take, that along with inflation? For this to work, your capital take has to increase inline with inflation, otherwise you are getting poorer, by this i mean your living standards would have to drop, as well as your capital lump taking a hit?

With that kind of money his best investment choice is property. Property is a good liquidity generating asset that generally keeps up with inflation as long as you buy at the right point in the property cycle e.g. after the bust.

for 450k or so he should be able to yield well over 1.5k/ month in rent from a nice big property in a reasonably good area.

Before anyone hates on me, we should all remember there is nothing morally wrong with buying BTL property with cash it's the mortgaged BTL'rs that contributed to the bubble rather than cash buyers.

The only other money-generating asset I can think of is dividend yielding stocks and business ventures, both incredibly risky punts.

Also as he will own a half-decent property rents shouldn't be affected too badly when the poor (the scourge as I like to call them) hit poverty levels.

Another option is gold, it keeps up with inflation but every time you withdraw from BullionVault for example you'd have to incurr a 1% fee so your stash may drop by 2% per year but it would still beat cash in the bank being eaten by inflation.

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Guest UK Debt Slave
Why is the USA better than here?

1. Cos that's where my wife lives!

2. Cos we don't have a mortgage

3. Cos we can self sustain, grow our own food, fish in the river, fresh water etc

4. You can own firearms

5. Strong community spirit. People help eachother out. People take care of themselves

6. Low crime rate

7. Stunning location, sea, mountains, desert, you name it, we have it

8. Much better environment for kids

9. Limited government power is more culturally entrenched in the mindset. No sales tax for example, refund cheques for Oregon State staying within budget (yep! This actually happens). Oregon is totally different ballgame from a bankrupt state like California for example.

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