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 ...

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Old Jun 24, 2015, 8:20am   #1
 
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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
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Old Jun 25, 2015, 9:49pm   #2
 
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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?

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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.

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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?

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3-what are your finances like
That seems a bit vague. Could you be more specific?
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Old Jun 25, 2015, 10:28pm   #3
 
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itspossible started this thread Thanks for the imput.Just watching the sopranos and ill reply soon.
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Old Jun 26, 2015, 12:03pm   #4
 
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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.
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Old Jun 26, 2015, 12:13pm   #5
 
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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.
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Old Jun 26, 2015, 12:16pm   #6
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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 ..........
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Old Jun 26, 2015, 12:20pm   #7
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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 ?
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Old Jun 26, 2015, 12:28pm   #8
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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

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Old Jun 26, 2015, 12:38pm   #9
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Originally Posted by itspossible View Post
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.
Hi IP

Are you working for the HMRC - if so - you have had everything - but I can donate another pint of blood if really pushed ;-)


Regards


F
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Old Jun 26, 2015, 3:14pm   #10
 
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itspossible started this thread ^^^lolz^^^
Told you i was nosey.
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Old Jun 26, 2015, 3:27pm   #11
 
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itspossible started this thread
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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
isas are pretty poor-under 2%.
i can remember getting 5% on isas years ago.
Do you trade small now nvp or do you swing for the fences.
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Old Jun 26, 2015, 6:17pm   #12
 
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You said you have no debt and yet you are overdrawn every month and that you @itspossible "foolishly top it up from my cash reserves". I still haven't seen a good break down of what you have financially. How much is in ISAs? What investments are you calling safe? What exactly are you invested in? How is it even possible to retire with £100,000?.

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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
No

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Originally Posted by itspossible View Post
2-do you have debt
No. I pay cash for most things.

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Originally Posted by itspossible View Post
3-do you have savings
Yes

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Originally Posted by itspossible View Post
4-do you have a pension
I do not like the word pension. It has a connotation of a government hand-out and trust me you did not contribute the entirety of the money you receive. That's taxpayer money. If on the other hand it is a 401(k) or a managed portfolio in which you have contributed to over the years, then that's much better and less reprehensible.

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5-do you have other policies that are due to mature
What kind of policies would those be? A rule I can think of might be "don't trade with money you can't afford to lose". Stay away from leverage unless you have enough money not to worry about guaranteed stop loss trades.

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6-how much is in your trading account
Enough to day trade equities in the US.
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Old Jun 26, 2015, 6:22pm   #13
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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.
I'm early 30's plan to retire in the next 5 years. No pension.

I'm not really sure if you could call it retirement, but I have plans on how to make my money work harder, and faster for me within the industry, however that will most likely be people working my money in the style that I teach them. My money, my rules, and I already know who the people are, so please don't send me CV's.

I do this full time 2 properties in UK, and one in Dubai all paid for, and soon will be buying one in Central London(mortgage will be required for that one).

All toys are paid for with no finance on them, 4 cars, 1 mistress, 1 motorbike, my beloved 50cc scooter, and another car with deposit paid, specced up, and coming in Q4 2016, although 2 cars may be sold before it arrives, if I can be bothered to SOR them at a dealers.

My better half really doesn't understand why I need cars at all, as I'm too pissed to drive most days, and we just take taxi's everywhere, but then doesn't understand my argument of wanting her to learn to drive so we don't have to get taxi's.

Finances are very good, but money management is p55 poor, I too seem to live in overdraft, and then pay it off.

P.S. You still haven't told me if you can get me some Wimbledon final tickets.

Best
John.
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Old Jun 26, 2015, 6:35pm   #14
 
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I do this full time 2 properties in UK, and one in Dubai all paid for, and soon will be buying one in Central London(mortgage will be required for that one).
In which postcode or city are they located in the UK?

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P.S. You still haven't told me if you can get me some Wimbledon final tickets.

Best
John.
Why bother going to Wimbledon if you are English? Andy Murray was the first Brit to win Wimbledon since 1936. They haven't even been runner-up since 1938. The US has won it 15 times in the past 40 years. That's more than twice the amount of times for the runners-up (Sweden, Australia, Switzerland). Sweden 6 wins, Australia 6 wins, Switzerland 6 wins.
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Old Jun 26, 2015, 6:45pm   #15
 
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Why bother going to Wimbledon if you are English? Andy Murray was the first Brit to win Wimbledon since 1936. They haven't even been runner-up since 1938. The US has won it 15 times in the past 40 years.
Here's a idea hyabusa, start a thread about how superior the US is compared to the rest of the world ? instead of wrecking every other one with your drivel..
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