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'i Have Three Homes But All My Money Goes On Holidays. Can I Retire At 55 And Send My Son To University?'

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'I have three homes but all my money goes on holidays. Can I retire at 55 and send my son to university?'

http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/12098155/I-have-three-homes-but-all-my-money-goes-on-holidays.-Can-I-retire-at-55-and-send-my-son-to-university.html

Presented without comment.

At least some poor adult bloke isn't going to get dragged down the her.

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I love that the guru from the 'buy to let scum foundation' believes she should double down and buy more. Thanks for the laugh. Telegraph money makeovers are the gift that never stops giving.

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'I have three homes but all my money goes on holidays. Can I retire at 55 and send my son to university?'

http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/12098155/I-have-three-homes-but-all-my-money-goes-on-holidays.-Can-I-retire-at-55-and-send-my-son-to-university.html

Presented without comment.

Why? She's just another person riding an HPI wave with random cheques from others:

Marie first became a landlord in 2012, using £70,000 from her father’s pension as a deposit for a £224,000 house. It brings in £995 a month in rent payments and she estimates it has increased significantly in value – she thinks it is now worth £350,000.

A second buy-to-let property was acquired in 2013 when her grandmother died and she found herself with a significant inheritance.

Marie put £70,000 towards a £190,000 flat in Camberley. She sold this in October 2015 for £250,000 and bought another three-bedroom house for £280,000 in December.

Marie's main investment has been in property as she’s “always known it’s the way to go”.

Mad gainz 4eva!

She seems to have 300k in debt, *if* the article in any way describes reality, a highly dubious assumption. she earns close to the higher rate threshold, BTL taxy time coming down the line.

I'd recommend she sells everything now.

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"She says she’d happily retire on £15,000 a year if her three mortgages were paid off – currently a total debt of £530,000"

Jesus ******ing christ, as soon as it goes tits she will play the wounded damsel and demand the government fix it.

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Why? She's just another person riding an HPI wave with random cheques from others:

Mad gainz 4eva!

She seems to have 300k in debt, *if* the article in any way describes reality, a highly dubious assumption. she earns close to the higher rate threshold, BTL taxy time coming down the line.

I'd recommend she sells everything now.

The article says she's over half a million in the red, whilst simultaneously describing her as 'asset rich'.

You couldn't make this shit up.

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Why? She's just another person riding an HPI wave with random cheques from others:

Mad gainz 4eva!

She seems to have 300k in debt, *if* the article in any way describes reality, a highly dubious assumption. she earns close to the higher rate threshold, BTL taxy time coming down the line.

I'd recommend she sells everything now.

I think it says £530k in debt - so "owning 3 homes" is a bit of a stretch. Interesting to compare the fecklessness of this lifestyle, on a moderate wage, and the lady trying to buy a bedsit in Stockwell whilst living on crumbs - on a much better wage.

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"She says she’d happily retire on £15,000 a year if her three mortgages were paid off – currently a total debt of £530,000"

Jesus ******ing christ, as soon as it goes tits she will play the wounded damsel and demand the government fix it.

I have realised I'm never going to be rich. I'm far too risk averse. The idea of half a million pounds worth of debt terrifies me.

The fact I am bailing out these f*ckwits through zero interest rates and asset inflation makes it even worse.

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LOL, I missed that bit. What an idiot, but hey, these cretins are being bailed routinely.

No comments allowed, wonder why.

If comments were allowed, I'd point out that the 70k she's taken from her father's pension to fund one of the buy to let purchases doesn't exactly fit with the savvy self made heroine investor narrative.

Mind you, I just used some of my dad's to buy some bitcoin, so I'm no angel myself.

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"Either there was a freak increase in value or Marie really knows the property world, so this is a skill she should capitalise on more when she can." - One of my fave quotes for a while ;-)

She should write a book, "You too can be a property market genius".

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"She says she’d happily retire on £15,000 a year if her three mortgages were paid off – currently a total debt of £530,000"

Jesus ******ing christ, as soon as it goes tits she will play the wounded damsel and demand the government fix it.

Haha yeah, feels richer than she is but 14x geared, good one love.

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It's hard to reconcile that £530k debt figure. Assuming her residence is paid off (they allude to it), then she must have MEWed the lot from her two BTL and spent it on something other than another BTL. There could be some tax implications.

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I have realised I'm never going to be rich. I'm far too risk averse. The idea of half a million pounds worth of debt terrifies me.

The fact I am bailing out these f*ckwits through zero interest rates and asset inflation makes it even worse.

Technically even with nothing your half a million richer than her though :)

In fact even if you have a modest wage and no debt your probably richer than most.

The whole of the uk is balls deep, the wealth of the uk is entirely and illusion.

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It's hard to reconcile that £530k debt figure. Assuming her residence is paid off (they allude to it), then she must have MEWed the lot from her two BTL and spent it on something other than another BTL. There could be some tax implications.

It mentions she spunked 2k on a lapland holiday at Christmas (her Santa being Santander loans presumably), and is known in the staff room as quite the globetrotter.

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'She lives with her eight-year-old son, Joe. Her first job after Joe was born paid just £9,000 a year - luckily, she says, she already owned her own house. She was able to train as a teacher while Joe was small as the tax credits covered his childcare.'

Shes 40.

Popped out kid at 32.

That 9k sounds like working as a teaching assistant, so Id guess she did that we son started school at 4, so 4 years ago.

I'm having big problems with articles use of 'own'.

'She bought her first property aged 24 and at 40 she now owns her own home in Camberley, an affluent part of Surrey.

She rents out another three-bedroom house a few streets away, and has recently bought a second buy-to-let property in the same area.'

'She may be on a comfortable salary, and the owner of three properties, but the lack of ready cash is a concern for Marie.'

'Marie wants to continue to travel when she retires, ideally aged 55, and she would like to have enough saved to send Joe to university. She says she’d happily retire on £15,000 a year if her three mortgages were paid off – currently a total debt of £530,000.'

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"She says shed happily retire on £15,000 a year if her three mortgages were paid off currently a total debt of £530,000"

Jesus ******ing christ, as soon as it goes tits she will play the wounded damsel and demand the government fix it.

No sympathy for this one, that's if she actually exists. Some of the maths doesn't add up imo Edited by PopGun

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"She says she’d happily retire on £15,000 a year if her three mortgages were paid off – currently a total debt of £530,000"

Jesus ******ing christ, as soon as it goes tits she will play the wounded damsel and demand the government fix it.

The debt servicing plus the cost of maintaining is far more than anyone needs to live on.......highly leveraged homes that have to be rented out is becoming a very weighted chain to carry. ;)

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Technically even with nothing your half a million richer than her though :)

In fact even if you have a modest wage and no debt your probably richer than most.

The whole of the uk is balls deep, the wealth of the uk is entirely and illusion.

I know this article is just clickbait to get people riled, but I can't help getting angry regardless. Being a renter on a modest wage with modest savings and no debt I know that I am possibly technically richer than her, but yet seemingly things are structurally geared to favour feckwits like this who think nothing of gearing up with maximum debt and grabbing all the property for themselves (whilst also taking multiple annual holidays, subsidised by the taxpayer). I'd like to think things will soon change, but I'm not holding my breath. I do get small comfort from knowing that she might lose it all in a heartbeat, but that sort of shadenfreude isn't my preferred route to satisfaction!

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I know this article is just clickbait to get people riled, but I can't help getting angry regardless. Being a renter on a modest wage with modest savings and no debt I know that I am possibly technically richer than her, but yet seemingly things are structurally geared to favour feckwits like this who think nothing of gearing up with maximum debt and grabbing all the property for themselves (whilst also taking multiple annual holidays, subsidised by the taxpayer). I'd like to think things will soon change, but I'm not holding my breath. I do get small comfort from knowing that she might lose it all in a heartbeat, but that sort of shadenfreude isn't my preferred route to satisfaction!

If I sold everything I own (house, cashed in all savings and shares, cars etc) and went and made a leveraged bet on the price of wheat continuing to rise then people would have no sympathy if I lost everything.

If I do the same and buy up £2m worth of houses the government will do everything they can to make sure I don't lose money.

Bizarre.

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So she's heavily in debt and wants a way to pay off half million in fifteen years whilst on a teachers salary.

Simples, win the lottery.

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