Your grand plan and finances

This is a discussion on Your grand plan and finances within the The Foyer forums, part of the Off the Grid category; Hi gang.I will put my hands up and admit to being a nosey parker .I have always had an interest ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jun 24, 2015, 8:20am   #1
 
itspossible's Avatar
Joined Sep 2014
Your grand plan and finances

Hi gang.I will put my hands up and admit to being a nosey parker .I have always had an interest in peoples lifestyles and finances.Dare you tell me yours.
I think a lot of people are fooled when they see a persons house ,car etc.Lovely house but when you delve deeper you understand that the mortgage is huge and likewise with the finance on the car.
The key for me is to be debt and mortgage free with large piles of cash in the bank.
If anyone would be bold enough to answer the following questions it would be appreciated.
1-what age do you plan to retire and will you have a pension at that age
2-do you want to trade for a living or just supplement your lifestyle
3-what are your finances like
Click the image to open in full size.
__________________
Quote:
Originally Posted by EnlightenedJoe View Post
Trade that are not closed will be closed when in profit.
itspossible is offline   Reply With Quote
Thanks! The following members like this post: lawrence-lugar
Old Jun 25, 2015, 9:49pm   #2
 
hhiusa's Avatar
Joined May 2015
Quote:
Originally Posted by itspossible View Post
Hi gang.I will put my hands up and admit to being a nosey parker .I have always had an interest in peoples lifestyles and finances.Dare you tell me yours.
I think a lot of people are fooled when they see a persons house ,car etc.Lovely house but when you delve deeper you understand that the mortgage is huge and likewise with the finance on the car.
The key for me is to be debt and mortgage free with large piles of cash in the bank.
If anyone would be bold enough to answer the following questions it would be appreciated.
Your questions intrigues me. Why didn't you start with your finances for an example?

Quote:
Originally Posted by itspossible View Post
1-what age do you plan to retire and will you have a pension at that age
What constitutes retirement is how you view it. Even though retirement means stopping employment completely, I don't consider trading for a living as work. I enjoy doing it. I would still do what I do even if I was a billionaire.

Quote:
Originally Posted by itspossible View Post
2-do you want to trade for a living or just supplement your lifestyle
Interesting question. Just out of curiousity why would you only want to supplement your lifestyle instead of supporting it entirely? Wouldn't it be nicer to not have to work and have the market make money for you?

Quote:
Originally Posted by itspossible View Post
3-what are your finances like
That seems a bit vague. Could you be more specific?
__________________
The problem with socialism is that you eventually run out of other people's money.”
- Margaret Thatcher
hhiusa is offline   Reply With Quote
Thanks! The following members like this post: itspossible
Old Jun 25, 2015, 10:28pm   #3
 
itspossible's Avatar
Joined Sep 2014
itspossible started this thread Thanks for the imput.Just watching the sopranos and ill reply soon.
itspossible is offline   Reply With Quote
Old Jun 26, 2015, 12:03pm   #4
 
itspossible's Avatar
Joined Sep 2014
itspossible started this thread hhiusa-Thank you and i understand what you are saying.Its nice to get your personal perspective.
Re your query on q3-What i mean specifically is
1-do you have a mortgage
2-do you have debt
3-do you have savings
4-do you have a pension
5-do you have other policies that are due to mature
6-how much is in your trading account
Once again i am very nosey.
itspossible is offline   Reply With Quote
Old Jun 26, 2015, 12:13pm   #5
 
itspossible's Avatar
Joined Sep 2014
itspossible started this thread I retired very young and have been retired for under 1 yr now.I took an early pension that is paid monthly and a small lump sum.I have some cash that is in isas and other safe investments (100k).
I am old school and have zero debt and no mortgage.I am overdrawn at the end of each month and i foolishly top it up from my cash reserves.I enjoy sports and play everyday.My grand plan really is just to enjoy my retirement with my family and play competitive sports.I left the trading arena about 10yrs ago but i am still very interested in the markets and i can identify certain correlation patterns forming(dow/ftse/dax)I am trying to preserve my capital so trading is a no no at this present moment.i also find trading stressful and life consuming.I think i could make money to supplement my retirement but i dont think it would be worth the effort and stress.Best of luck with your plans.
itspossible is offline   Reply With Quote
Old Jun 26, 2015, 12:16pm   #6
NVP
 
NVP's Avatar
Joined Jun 2004
Quote:
Originally Posted by hhiusa View Post
Your questions intrigues me. Why didn't you start with your finances for an example?



What constitutes retirement is how you view it. Even though retirement means stopping employment completely, I don't consider trading for a living as work. I enjoy doing it. I would still do what I do even if I was a billionaire.


Interesting question. Just out of curiousity why would you only want to supplement your lifestyle instead of supporting it entirely? Wouldn't it be nicer to not have to work and have the market make money for you?



That seems a bit vague. Could you be more specific?
hes not biting ..........
NVP is offline Coach/Trainer   Reply With Quote
Old Jun 26, 2015, 12:20pm   #7
NVP
 
NVP's Avatar
Joined Jun 2004
without giving much away (and believe it or not).............

debt free for quite a few years now .........some pensions also now in play as I ease back

if I wasn't trading more and more now I would be as bored as hell....I have never been much for pottering around gardens , kissing babies (no kids / grandkids), diy (screw that) or playing golf..............all my historic sports interests / businesses were high adrenaline and my wife doesn't let me play any more .......plus i'm too old / unfit now to do any off them to the highest levels that would satisfy me (and keep me alive to tell the tail)

I still do some finance / business consultancy work so at least I can upset people telling them what they are doing wrong (IMHO).............

what else ?
N
NVP is offline Coach/Trainer   Reply With Quote
Thanks! The following members like this post: Forexmospherian , Atilla , itspossible
Old Jun 26, 2015, 12:28pm   #8
NVP
 
NVP's Avatar
Joined Jun 2004
Quote:
Originally Posted by itspossible View Post
I retired very young and have been retired for under 1 yr now.I took an early pension that is paid monthly and a small lump sum.I have some cash that is in isas and other safe investments (100k).
I am old school and have zero debt and no mortgage.I am overdrawn at the end of each month and i foolishly top it up from my cash reserves.I enjoy sports and play everyday.My grand plan really is just to enjoy my retirement with my family and play competitive sports.I left the trading arena about 10yrs ago but i am still very interested in the markets and i can identify certain correlation patterns forming(dow/ftse/dax)I am trying to preserve my capital so trading is a no no at this present moment.i also find trading stressful and life consuming.I think i could make money to supplement my retirement but i dont think it would be worth the effort and stress.Best of luck with your plans.
hey dude .............join the club..............isn't being a net saver fun ?.....................0.0000001% interest unless you risk the shirt in the markets

I was recently quoted £1500 for an IFA letter on a small pension I have to get it released from the chains of the old regime......and they say working for the mafia is a licence to print money ???

remember those 7%+ interest rate days ........sigh

N
NVP is offline Coach/Trainer   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Keeping track of finances CherryP First Steps 8 Sep 23, 2013 3:58pm
Chancellor tipped to raise CGT in bid to bolster public finances donaldduke Home Trader 1 Nov 15, 2009 6:45pm
Grand National 09 96pills General Trading Chat 0 Apr 4, 2009 8:23pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)