[LT carpet cleaning]

Scrimp and save for 150 odd quid a week baffles me with all honesty if I could work just a couple of days a week when the time comes it would dwarf any pension that would have crippled me to pay in to for years.
It makes franchising seem a good idea when you look into pensions you get an income you pay tax you get your pension every month you pay tax lol,not too long ago people were getting 12% on savings if you had enough money just saved you wouldn’t need another income.

When Was It 12% on savings??

[H2GoKent]

Thanks, interesting
I guess it shows the need to have a plan B

[Jon_Phelps]

I'm 33 and I have my fingers in lots of pies.  I used to work in financial services so I have a fair idea of what I need to be doing.

I opened a lifetime Cash ISA with Skipton when they were launched.  I put in 4k a year (which is the max) and the government puts in another 1k. you can pay in to you're 50 and can with draw at 60.  over the term the government would have given me 20k just for planning for my future.  It'll be 100k plus the compounding interest when I withdraw the full sum.

I also pay into a SIPP, about the same amount and a little more.  i've been fairly lucky buying and selling at the right times so I think this may be the bulk of my pension come the end of it. 

I have premium bonds

the next step is a rental property here and there.

I regularly overpay my mortgage, save cash and think before I buy.

most importantly though, one of my customers said his philosophy is to spend half of his profit on sensible stuff like the pension etc and the other half must be for FUN! there's no re-run in life so make the most of the one you've got.

Jon

[Shrek]

I'm 33 and I have my fingers in lots of pies.  I used to work in financial services so I have a fair idea of what I need to be doing.

I opened a lifetime Cash ISA with Skipton when they were launched.  I put in 4k a year (which is the max) and the government puts in another 1k. you can pay in to you're 50 and can with draw at 60.  over the term the government would have given me 20k just for planning for my future.  It'll be 100k plus the compounding interest when I withdraw the full sum.

I also pay into a SIPP, about the same amount and a little more.  i've been fairly lucky buying and selling at the right times so I think this may be the bulk of my pension come the end of it. 

I have premium bonds

the next step is a rental property here and there.

I regularly overpay my mortgage, save cash and think before I buy.

most importantly though, one of my customers said his philosophy is to spend half of his profit on sensible stuff like the pension etc and the other half must be for FUN! there's no re-run in life so make the most of the one you've got.

Jon

ISA accounts are crap! What are you getting ? 0.7% interest if your lucky. I’m currently getting 6% where I stash my savings 

[KS Cleaning]

I have 2 property rentals. In 2005 I took out a 5 year fixed mortgage at 4.5%, as part of that deal at the end of the 5 year term the interest rate would change to 0.75% above the base rate, luckily for me by that time the base rate was 0.5% so effectively I then had a mortgage at 1.25%, I ploughed everything into it and had my mortgage paid off by 2015, I then remortgaged and bought the 2 property rentals.

[dazmond]

saving up a retirement fund  is a pretty dumb idea when money you put in the bank goes down in value every year

It's still better than having no savings though....I'll invest some of it in stocks and shares in due course.....

[G Griffin]

saving up a retirement fund  is a pretty dumb idea when money you put in the bank goes down in value every year

It's still better than having no savings though....I'll invest some of it in stocks and shares in due course.....

Tokyo's open, Daz.

[deeege]

I'm 33 and I have my fingers in lots of pies.  I used to work in financial services so I have a fair idea of what I need to be doing.

I opened a lifetime Cash ISA with Skipton when they were launched.  I put in 4k a year (which is the max) and the government puts in another 1k. you can pay in to you're 50 and can with draw at 60.  over the term the government would have given me 20k just for planning for my future.  It'll be 100k plus the compounding interest when I withdraw the full sum.

I also pay into a SIPP, about the same amount and a little more.  i've been fairly lucky buying and selling at the right times so I think this may be the bulk of my pension come the end of it. 

I have premium bonds

the next step is a rental property here and there.

I regularly overpay my mortgage, save cash and think before I buy.

most importantly though, one of my customers said his philosophy is to spend half of his profit on sensible stuff like the pension etc and the other half must be for FUN! there's no re-run in life so make the most of the one you've got.

Jon

ISA accounts are crap! What are you getting ? 0.7% interest if your lucky. I’m currently getting 6% where I stash my savings 

Where on earth are you getting 6%? I’m guessing it’s a high risk stocks and shares isa and youve got lucky short term?

Posting a screenshot of some short term gain doesn’t really mean much with no context, I could post some 24% interest short term but that’s not the full picture without the next weeks 20% loss 😂

[Richard iSparkle]

I pay into a pension but didn’t start until 3 years ago so that’s not going to be anything significant for a long while...

My aim is to develop isparkle into a hands off business which grows and makes profit with minimal involvement day to day from me. I’ll be just managing the managers.

It’s already a lot of the way there to be honest. Most weeks I only work half a day, or a day in the business.

Other than that I don’t see myself retiring from working... I’ll be setting myself up as a business coach and help other businesses Owners develop

I always need something new and interesting to keep me motivated

[Shrek]

I'm 33 and I have my fingers in lots of pies.  I used to work in financial services so I have a fair idea of what I need to be doing.

I opened a lifetime Cash ISA with Skipton when they were launched.  I put in 4k a year (which is the max) and the government puts in another 1k. you can pay in to you're 50 and can with draw at 60.  over the term the government would have given me 20k just for planning for my future.  It'll be 100k plus the compounding interest when I withdraw the full sum.

I also pay into a SIPP, about the same amount and a little more.  i've been fairly lucky buying and selling at the right times so I think this may be the bulk of my pension come the end of it. 

I have premium bonds

the next step is a rental property here and there.

I regularly overpay my mortgage, save cash and think before I buy.

most importantly though, one of my customers said his philosophy is to spend half of his profit on sensible stuff like the pension etc and the other half must be for FUN! there's no re-run in life so make the most of the one you've got.

Jon

ISA accounts are crap! What are you getting ? 0.7% interest if your lucky. I’m currently getting 6% where I stash my savings 

Where on earth are you getting 6%? I’m guessing it’s a high risk stocks and shares isa and youve got lucky short term?

Posting a screenshot of some short term gain doesn’t really mean much with no context, I could post some 24% interest short term but that’s not the full picture without the next weeks 20% loss 😂

I don’t do short term stuff , I’m in it for the long run. Statements like this just shows you don’t understand what a fund is as it’s certainly not a short term investment.

[deeege]

Posting any short term gain is pointless. That’s what I said and I stand by it. As you know anyone can screen grab a 5% 10% even a 30% short term profit and post that but its completely pointless without any context.

If your getting 6% + as an annual increase, well done you, but it’s not what you said.

[Shrek]

A fund is a mixture of lots of different amounts of shares , some go up some come down. But if your not bothered about that and your looking long term 20-30 years (25+ is when the compounding really starts to mount up), then invest in a fund.  Long term these will beat overpaying your mortgage too.

[NWH]

I pay into a pension but didn’t start until 3 years ago so that’s not going to be anything significant for a long while...

My aim is to develop isparkle into a hands off business which grows and makes profit with minimal involvement day to day from me. I’ll be just managing the managers.

It’s already a lot of the way there to be honest. Most weeks I only work half a day, or a day in the business.

Other than that I don’t see myself retiring from working... I’ll be setting myself up as a business coach and help other businesses Owners develop

I always need something new and interesting to keep me motivated

You could always get yourself a
Swivel chair 🪑 and flat screen telly mounted on the wall,I hear the brackets are a nightmare to figure out how to fit 🤣🤣🤣

[NWH]

Manage the managers 🤣🤣🤣🤣