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

itspossible said:

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.

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Your questions intrigues me. Why didn't you start with your finances for an example?

itspossible said:

1-what age do you plan to retire and will you have a pension at that age

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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.

itspossible said:

2-do you want to trade for a living or just supplement your lifestyle

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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?

itspossible said:

3-what are your finances like

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That seems a bit vague. Could you be more specific?

Thanks for the imput.Just watching the sopranos and ill reply soon.

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.

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.

hhiusa said:

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?

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hes not biting ..........

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)........:smart:.....

what else ?
N

itspossible said:

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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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 :whistling

N

itspossible said:

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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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

^^^lolz^^^
Told you i was nosey.

NVP said:

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 :whistling

N

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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.

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?.

itspossible said:

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

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No

itspossible said:

2-do you have debt

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No. I pay cash for most things.

itspossible said:

3-do you have savings

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Yes

itspossible said:

4-do you have a pension

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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.

itspossible said:

5-do you have other policies that are due to mature

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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.

itspossible said:

6-how much is in your trading account

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Enough to day trade equities in the US.

itspossible said:

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 to expand...

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.

Mr Fox said:

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).

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In which postcode or city are they located in the UK?

Mr Fox said:

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

Best
John.

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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. 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.

hhiusa said:

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.

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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..

mike. said:

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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So glad to be of service

hhiusa said:

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?.



No



No. I pay cash for most things.



Yes



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.

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.



Enough to day trade equities in the US.

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Thanks-Re your wimbledon query.mcenroe will always be my hero.he was hated by the snobby wimbledon establishment initially but won the hearts of british people and obviously commentates now.i loved his serve and volley style and he had such an amazing touch-the game is all power now but fantastic all the same-I retired at 49 with a monthly pension in my hand.the 100k is seperate and i am trying to preserve this and obtain interest. i have endownment policies that will mature in the next 5yrs.i could have received a gold plated pension if i had worked till i was 55 but i ended up hating my job and wanted to just enjoy life.
its a risk H but im pleased that i have taken it.My quality of life is excellent at the moment.I have a very small buisiness interest but its just simple manual work and im my own boss.Fingers crossed that i live till 90.Freedom is the key and quality of life imho.

itspossible said:

Thanks-Re your wimbledon query.mcenroe will always be my hero.he was hated by the snobby wimbledon establishment initially but won the hearts of british people and obviously commentates now.i loved his serve and volley style and he had such an amazing touch-the game is all power now but fantastic all the same-I retired at 49 with a monthly pension in my hand.the 100k is seperate and i am trying to preserve this and obtain interest. i have endownment policies that will mature in the next 5yrs.i could have received a gold plated pension if i had worked till i was 55 but i ended up hating my job and wanted to just enjoy life.
its a risk H but im pleased that i have taken it.My quality of life is excellent at the moment.I have a very small buisiness interest but its just simple manual work and im my own boss.Fingers crossed that i live till 90.Freedom is the key and quality of life imho.

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I think most people will want to live to be that age.

itspossible said:

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 to expand...

1 Never
2 done both over the last 15 years, more of the same
3 average could be better, still have a mortgage

Main plan at the moment is training to crack sub 4 min mile, no mean feat at the age of 46, best time of 4.16 in my early 30s
Get more pleasure trying for this than money, working or trading.

Oscar Reed said:

1 Never
2 done both over the last 15 years, more of the same
3 average could be better, still have a mortgage

Main plan at the moment is training to crack sub 4 min mile, no mean feat at the age of 46, best time of 4.16 in my early 30s
Get more pleasure trying for this than money, working or trading.

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You do not plan upon retiring? How would you manage that?