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    • edinburgher
    • By edinburgher 2nd May 14, 3:58 PM
    • 10,747Posts
    • 56,189Thanks
    edinburgher
    Only freedom will do
    • #1
    • 2nd May 14, 3:58 PM
    Only freedom will do 2nd May 14 at 3:58 PM
    It has come to my attention that I have been here for a very long time

    I joined these forums in a dim and distant past, where money was my enemy and the weight of my student debts left me crushed and panicked, unable to picture a future where I would be able to get a debit card (never mind a mortgage).

    5 years later and the milestones of marriage, first home and first car have come and gone. Throughout it all, I have had a creeping feeling that something wasnít quite right. I donít get the world of work, and while Iíve never been unemployed in my adult life, Iíve tried too hard to try my hand at too many things and Iím left feeling like Iím an actor who recognises the play, but does not understand his motivation.

    As some of you will know, I have experienced some real heartache of late. Your messages of support and hope have been so touching and in many cases, I have got more comfort from anonymous individuals who took the time to get in touch than people I know in the Ďrealí world.

    While money would have done nothing to prevent it, the luxury of savings and our hard work over the years meant that we were in a position to make the right decisions and take our time with our next steps. Returning to work has been a real blow and without sounding even more melodramatic, I donít think Iíd realised just how damaging I find the merry-go-round of rote work, office politics and bureaucracy.

    It wonít do, I canít believe that this is as good as it gets and to quote one of my favourite singers ĎWe can always build a world better than thisí.

    From this point on, I plan to dedicate myself to achieving financial independence. Not MFW, but freedom from all the nonsense that we go through to just to pay for a pile of bricks and a few years of leisure at the end of our span.

    Hopefully you can join me for the journey
Page 284
    • edinburgher
    • By edinburgher 29th May 17, 6:20 PM
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    edinburgher
    I already assume that draw down will be from age 58, so the idea of it being later (not earlier) is never far from my mind. In any case, my retirement income will be lumpy as I (currently) expect something at 58, then another few ££££ at 65 (preserved DB pension) and then a full state pension at 68 (assuming it's still a thing).

    As I've discussed with SSS in his diary a couple of times, I expect to slam the brakes on pension investing once we hit a meaningful amount and to try and fill ISAs from that point. By then, hopefully the pension snowball should be big enough to take care of itself and we'd just try and maximise the employer match. What point will that be? Not quite sure yet, maybe £150k or so (depends on whether we want to own our current home/whether we plan on moving to a lower cost of living area).

    Alternatively? If that doesn't quite pan out, I'd have no problem using credit card borrowing to smooth income to retirement by say stoozing 3 year's worth of income and paying it off out of PCLS.

    Lots of options, nothing that worries me particularly. Worst case scenario is that retirement can't be quite as early as we'd like and that we end up retiring closer to conventional age with more money than we know what to do with
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 2nd Jun 17, 9:07 AM
    • 590 Posts
    • 2,606 Thanks
    SuperSecretSquirrel
    Hi Ed, I'm back with another stoozing question. The mule card, can you rinse and repeat it over and over again? Say I got myself the 0.5% money transfer card with a credit limit of 1k, and a single 0% for three years no fee BT in first three months card with a credit limit of 10k... Could I money transfer 1k from mule to current account, transfer the balance over to BT card, then over the next few days/weeks repeat 10 times, end up with zero balance on the mule, 10k on the BT, and 10k on hand in current account to shift to savings/investments?

    I understand there may be limits on money transfers and balance transfers e.g. up to 90% of credit limit, so the above may be a little simplistic, but what I'm really getting at is does the mule credit limit really matter all that much?

    Thanks
    Mtg [2013 £64k|2014 £51k|2015 £38k|2016 £26k] £15,667.31
    MN [2013-£25k|2014-£2k|2015+£16k|2016+£34k]
    48,973.75 (MFiT4:+60k)
    NW [2013 £126k|2014 £156k|2015 £190k|2016 £228k] £264,504.07 (2020:300k)
    FI [2013 -1.2%|2014 2.8%|2015 6.9%|2016 13%] 17.3%
    • edinburgher
    • By edinburgher 2nd Jun 17, 1:20 PM
    • 10,747 Posts
    • 56,189 Thanks
    edinburgher
    SSS, your interpretation is correct. Think I've made 5 money transfers with my mule card now. Starting to run out of homes for the money, so will probably rein things in soon.

    Ps. Accidental pun
    Last edited by edinburgher; 02-06-2017 at 1:32 PM.
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 2nd Jun 17, 7:28 PM
    • 590 Posts
    • 2,606 Thanks
    SuperSecretSquirrel
    Excellent, thanks Ed

    I don't have any homes for extra cash right now, but no harm in getting the theory straight ahead of time

    Then again, 10k would only cost £50, minus any cashback, plus small amounts of interest while the BTs go through. I know you will likely disapprove, but at that price it might be worth going for it regardless and parking it all in PBs short term, odds are good that you'd come out the other end better off Once a better home is found for the cash, shift out of PBs.

    Guess I might give it a go this weekend. Of course this all assumes that someone is willing to offer me another 0% BT card with a nice big limit on it!

    Thanks for all your help
    Mtg [2013 £64k|2014 £51k|2015 £38k|2016 £26k] £15,667.31
    MN [2013-£25k|2014-£2k|2015+£16k|2016+£34k]
    48,973.75 (MFiT4:+60k)
    NW [2013 £126k|2014 £156k|2015 £190k|2016 £228k] £264,504.07 (2020:300k)
    FI [2013 -1.2%|2014 2.8%|2015 6.9%|2016 13%] 17.3%
    • edinburgher
    • By edinburgher 2nd Jun 17, 9:59 PM
    • 10,747 Posts
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    edinburgher
    You're welcome SSS. I don't have any axe to grind re. PBs, you're basically having a small flutter with someone else's money and no risk
    • edinburgher
    • By edinburgher 16th Jun 17, 8:27 PM
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    edinburgher
    So many posts about wine...
    Hello all, another post about wine

    I am in the midst of a massive stooze (nearly finished, although still building up the 'slow' stooze part of the pot).

    I saw a rather cracking offer on HUKD that basically offered £6.25 worth of Mr M points for buying £50 John L3wis vouchers that are accepted by Waitr0se. As regular visitors might know, I've fallen in love with the fact that I can buy fancy pants wine for deep discounts there.

    Today's purchase was 13 bottles of Pinot Gris (originally £129.87) for £66.37/£5.11/bottle. 20% off wine, £25 off £100 spend, 12.5% return in Morrison'5 points buying vouchers instore and free delivery. I makes them work for the money
    • Karmacat
    • By Karmacat 16th Jun 17, 10:59 PM
    • 28,077 Posts
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    Karmacat
    I love it when you can stack deals together

    Good for you!
    Retired August 2016
    • edinburgher
    • By edinburgher 17th Jun 17, 1:29 PM
    • 10,747 Posts
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    edinburgher
    Being of a mind to make hay while the offer sun shines, I have picked up another £250 of vouchers today Should do us for a year or so. That said, wine doesn't last as long as it used to as I've got into the habit of gifting bottles when we're caught on the hop without a present, as a good bottle is always well received.

    Also picked up a Dutch hoe for the garden and some baking potatoes to throw on the BBQ this afternoon
    • Karmacat
    • By Karmacat 17th Jun 17, 3:14 PM
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    Karmacat
    My life just isn't that active though I did actually buy a bottle of wine today, as our board games evenings might finally get going again.
    Retired August 2016
    • edinburgher
    • By edinburgher 18th Jun 17, 1:36 PM
    • 10,747 Posts
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    edinburgher
    The Dutch hoe makes it so much easier to weed beds!

    Celebrated Father's Day with an overly large burger and I have a couple of mini cannolis for after our park walk this afternoon.

    Managed to pick up another £100 of JL vouchers and a £50 M&S voucher for work clothes, that was a great offer while it lasted, now have 8-9 £5 off Mr M's vouchers in my wallet, that's like a month of fish and meat.
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 18th Jun 17, 9:30 PM
    • 3,929 Posts
    • 36,208 Thanks
    Secret Saving Squirrel
    That is a very good wine deal. Our local supermarket was recently offering 25% off 6 or more bottles, but they also had a 25% off for a case deal. We got two cases and the cashier worked out the discount and took it off the price.... Then the till calculated another 25% off as we had twelve bottles. We couldn't get out of there quickly enough and were sorely tempted to grab more but didn't want to get rumbled.
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • edinburgher
    • By edinburgher 18th Jun 17, 10:22 PM
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    • 56,189 Thanks
    edinburgher
    I miss 25% off 6 - stupid Scotland!

    Excellent real there squirrel, I think you made the right decision.
    • edinburgher
    • By edinburgher 25th Jun 17, 6:09 PM
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    • 56,189 Thanks
    edinburgher
    Have started making OPs, be they ever so humble. NW update tomorrow
    • edinburgher
    • By edinburgher 26th Jun 17, 10:25 AM
    • 10,747 Posts
    • 56,189 Thanks
    edinburgher
    May 2017 Financial Update

    Net Worth £162,118.72 (+£590.61)

    The HPI gods giveth and they taketh away - what is the sound of a line going sideways?

    This month was a tale of 2 asset classes. Equities (pensions and ISA) performed magnificently thanks to healthy contributions; tax benefits and some growth. They ended up the month roughly +£2,500, which was actually a few pounds more than we were paid due to all the deductions from our salaries Next month should also be good, as increased pension contribtions (30%) have kicked in

    On the other hand, HPI has taken back £2,500 of the £3,000 it gave us in May A silly thing to be aware of, but not worried as 2 sales on our street completed in less than a week during the month.

    The small uptick in NW is largely down to a teensy bit of home equity and a miniscule bump from income received at the end of the first month of the stoozing experiment (May). £100+ of the June income is due to pay out at the end of this week, so the figures are a little on the pessimistic side.

    The P2P/equity/bond/cash stooze pot now requires next to no maintenance (1 DD to update, 1 weekly spreadsheet update). It now spins off £205.36/month after tax, but this is actually nearer to £235/month as the tax will likely be taken in the form of an adjusted tax code once reported to HMRC.

    I hope to be wrong, but am starting to get the impression that Brexit is going to be highly negative for the financial prospects of most people in the UK. To that end, I think it might be an idea to end the stooze a little earlier than the 2 years planned initially; I've started making very small OPs and will continue saving my new pound coins as I get them We're also another step closer to off grid paradise after setting a whirlygig in the back garden (we get through something like 6-7 loads of laundry a week and the tumble dryer is squandering my solar power)!

    Other than that? Not a whole lot going on, we're meal planning better than we have been in a while and have made a few budgeting tweaks that have increased spend in certain areas, but are far more representative of what we were actually spending over the course of a year

    I hope that everybody else has had a productive month?
    • Karmacat
    • By Karmacat 26th Jun 17, 10:30 AM
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    Karmacat
    Sounds good, Ed. I'm going to be using the merging of Friends Life and Aviva as the get-up-and-go to tweak my pensions, I get the impression that everything's going to come crashing down like a house of cards, the way debt keeps building up

    Innate pessimist, moi? How can you say such a thing
    Save
    Retired August 2016
    • edinburgher
    • By edinburgher 26th Jun 17, 10:42 AM
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    edinburgher
    I get the impression that everything's going to come crashing down like a house of cards, the way debt keeps building up

    Innate pessimist, moi? How can you say such a thing
    Save
    Originally posted by Karmacat
    You are not the only one who thinks that way KC, I thought it fitting that the most recent re-post on the ERE blog is one where Jacob asserts that we're reaching the end of a 70 year cycle and that the cheap fuel/fast growth age is over. He talks about adapting to a low fuel world, not hoarding. That said, the American shale revolution will probably postpone that particular party by a decade or two?

    On a more positive note, it was interesting to see comments from the bank for international settlements saying that QE has had a minimal effect on inflation and that central banks should push ahead with rate rises. So while I agree that debt will no doubt be having some pernicious influence on the economy that we haven't quite figured out yet, I'd be more inclined to expect eternal? stagnation than collapse.

    Edit: He was talking about Kondratiev waves
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 27th Jun 17, 8:30 AM
    • 590 Posts
    • 2,606 Thanks
    SuperSecretSquirrel
    That's an impressive stooze payoff Ed! £235pm extra income for making good use of someone else's money!

    My pot, at half the size of yours, could return as little as zero a month, or over a million pounds a month... Average luck would see me at just over £20pm.

    Mr Average Luck, busy avoiding leveraged investment, is taking a £97pm hit in opportunity cost. I can live with that for now as it's someone else's money I'm playing with, there would be an even higher opportunity cost to not playing the stooze game at all, so current situation is already an improvement over last month.

    Be interesting to see what the next two years hold. Perhaps I'll start upping the risk while you start to de-risk!
    Mtg [2013 £64k|2014 £51k|2015 £38k|2016 £26k] £15,667.31
    MN [2013-£25k|2014-£2k|2015+£16k|2016+£34k]
    48,973.75 (MFiT4:+60k)
    NW [2013 £126k|2014 £156k|2015 £190k|2016 £228k] £264,504.07 (2020:300k)
    FI [2013 -1.2%|2014 2.8%|2015 6.9%|2016 13%] 17.3%
    • Karmacat
    • By Karmacat 27th Jun 17, 9:33 AM
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    Karmacat
    Just found that blog entry, Ed - that's very much my thinking, I'm a big proponent in other circles of stopping people thinking that the world is going to end. Though personally, a slow collapse that lasts until 2025 is going to be quite difficult for me, for age-related issues. And, um, global war by 2040? Oops. Though I can see cyber issues coming to be called war, properly, I'm afraid.

    I may have been working on exactly that for my apoca-novel based in a village near to me
    Retired August 2016
    • edinburgher
    • By edinburgher 27th Jun 17, 3:41 PM
    • 10,747 Posts
    • 56,189 Thanks
    edinburgher
    That's an impressive stooze payoff Ed! £235pm extra income for making good use of someone else's money!

    My pot, at half the size of yours, could return as little as zero a month, or over a million pounds a month... Average luck would see me at just over £20pm.

    Mr Average Luck, busy avoiding leveraged investment, is taking a £97pm hit in opportunity cost. I can live with that for now as it's someone else's money I'm playing with
    Originally posted by SuperSecretSquirrel
    Mhhh... if we're talking opportunity costs, I think it's fair to look at like for like comparisons, so your opportunity cost is nearer £200, which is walking around money for most of us

    Unfortunately for me, I'm an inveterate tinkerer and now that I have seen the stoozing gun on the wall, I had to pull the trigger.

    To be honest, I was largely inspired by Mrs E who puts up with a lot in my stumbling progress towards FI. It's a real sacrifice to save 30%+ of gross salaries when one of you works p-t and you have a big (to us) mortgage and childcare. This is my attempt to make it feel a bit less like hard work, I'm probably doing the wrong thing for the right reasons.

    On that front, I have just come out of an interview for a post that would slash my pension costs to 1/6th of their current level for the same provision, so if I'm lucky I'll be able to increase my salary through more conventional means

    Edit: That should be *our* stumbling progress to FI, she's retiring at 48 whether she likes it or not
    Last edited by edinburgher; 27-06-2017 at 3:58 PM.
    • Brodiebobs
    • By Brodiebobs 27th Jun 17, 9:40 PM
    • 762 Posts
    • 3,177 Thanks
    Brodiebobs
    Interested in the whirlygig Ed, we live on the edge of a valley and v.windy but cant afford/have space for a a 'proper' turbine!
    Addicted to MSE.
    Overpaying mortgage for a better debt free life!
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