This Time I'm Really Going To Do It

Alchemilla wrote: »

It sounds like you have your mojo back Watty.

Thanks Yes I do think I have. Mojo hid whilst herbs out of stock but now back on them and feeling lots brighter. Hurrah!!

As I shared earlier Mr Watty and I have been looking to use the money we have in our ISAs to buy a flat to rent out to boost the retirement fund. Having done the research and put in a couple of offers have decided to call a halt to this. The ones we offered on were 'good buys' but ultimately went for silly money as they were restoration projects.


Having reviewed how the £25,000 in a S&S ISA has done (and we didn't really think about the choice of the ISA) it actually would seem to make more sense to invest any cash we have in savings which ultimately is a less risky plan. We were gambling on using an interest only mortgage to buy somewhere and taking the rent as income - and then - selling the property to clear the debt in a few years. In theory it was a good plan but property round here is very expensive and we finally decided it was a lot of work for the return - especially if the property stands empty for more than 6 weeks. We may come back to the plan if we find a renovation project - but - for now - shelving that one.


Oh Ed ...you can say you told me so a few pages back

Well mine lost ground too KC - but - had made an about turn too thanks to gains in the market.

Am going to set aside some time to squander on line err...make that research S&S ISAs

edinburgher wrote: »

I won't say I told you so Watty, I just expressed an opinion, you're welcome to adopt or abandon suggestions as they come

The interweb is a wonderful source of ideas and inspiration, but there's also some really !!!! ideas on it!

As KC says, you were absolutely right to explore your options. Any decision that's for your future has to be one that you are comfortable with and have taken for a positive, researched reason. Otherwise you will find yourself on the savings and investments board, moaning about mis-selling...

My feelings re. S&S ISAs remain low cost diversified trackers, DIY.

Cheers Ed! It just turns out that having looked at a number of properties and done all the sums I decided BTL wasn't right for me at this time - unless - I can find a 'project property' which all seem sought after and then go for more than a done up property :eek:


Spent last night reading a cute dummies guide to ISAs sent to me foc. Come to a very similar conclusion.


Now need to look carefully at own Bank ISA which I bought maybe 10 years ago now and which hasn't exactly performed.
Also need to investigate a suitable S&S diversified tracker.


And finally ...Ed, I know you have had career wobbles - so - ifa ???