Buy to let fever?

rozeepozee

Tassotti wrote:

Tongue in cheek response

Mine or your's?

I retired at 32, from an initial £4000 investment (and not BTL! )

Tassotti

rozeepozee wrote:

Mine or your's?

I retired at 32, from an initial £4000 investment (and not BTL! )

Most respect to you.

I don;t want to argue with you but take creative minds to develop and realise their own potential.

We have 'Bin there done that', but the youngsters coming up can probably teach us a thing or two (so I've been told)

Most probably, we can teach tenm a lot about making money..be it property, stocks, shares , whatever


Work together to bring up an educated financially aware youth

rozeepozee

Hey, I'm only teasing, Tass! I sold my legal practice after deciding that I'd rather have a life than lots of money in the bank. A different philosophy to your own (no more 'right' or 'wrong'): I considered how little I can live on/consume in order to retire, rather than how much (hence my attraction to this site and freecycycle )

The money I have made in BTL has been more about luck than judgment (I had the windfall of the proceeds of my practice at the right time) but words like gearing and leverage scare me. I'd rather not have any debt and have been selling my properties to pay off the mortgages on the ones I want to keep long term. As far as I'm concerned the 'value' of my properties is meaningless if there's money owed to the bank (values may be high at the moment, but I don't count on that at all).

And less of this talk of 'the youngsters' - I'm only 37!!!

Tassotti

I am gratefl for your experience :T


I'd like to sell. I could retire easily (33 in 2 weeks) but can't do it. Weird,. I could clear about 3 millon but I don't think its enough!!!!!

I think its a sibling thing..My sister is a billionaire....a lot to live up to` :T

Best wishes to you and all other rat race escapees

rozeepozee

Cheers, flower.

Does it matter that your sister's a billionaire? So is Bill Gates but I bet that doesn't keep you awake at night.

"Retirement's" a funny old thing anyway. I still 'work', now it's in my garden growing veggies, learning to cook, nurturing my relationships with people I care about and writing essays (what I should be doing now - I went back to Uni to study a topic of my choosing instead of qualification that would give me a career/make money). All the things I never had time to do when I was running my business. I still think you need a purpose in life, but that it might be a bit sad if your main purpose is to make money.

You could sell up, stick your money offshore and travel the world (no CGT to pay if you're non-resident for 5 years!) Or what did you enjoy doing when you were younger, before you cared whether your sister had more than you materially?

nmiah786

Tassotti wrote:

We have 'Bin there done that', but the youngsters coming up can probably teach us a thing or two (so I've been told)

hey come on your only 33 (soon)!!!!

Tassotti

True True True

I think I have accomplished enough. My first goal was to make a million, done that, second goal own a Ferrari (done that...cost me about 40K in repairs i, next goal travel world I haven't been yet ..recruti a skipper for my yacht and see the world

My philosophies

1) Aspire to what you can be.....it can be done
2)money doesn't buy you happiness (although can help out) Cliche
3) Most Importantly!! Take care of the ones you love

Don;t work too hard in your life ..Spend time with family , KIDS and friends

Doctor diagnosed me with life threatening cancer. I've NEVER listened to authorities so I WILL beat it.

Good Luck to all you aspiring 'Rich Dads#, but remember one thing.


Its all in the end Baby...all in the end

rozeepozee

(Apologies to all those who get annoyed by posters who go off thread)

Tass, you sound incredibly positive. An existentialist, even (just studying that:p ). It may all be in the end - and we only have the present (so I think: live it)

Can't quibble with your philosophies. My own, well I could never find a more eloquent way of saying it than Charlotte Bronte did: "Better to try all things and to find all empty, than to try nothing and to leave your life a blank"

Tassotti

I prefer...

Better be a winner for a day than aloser for the rest of your life

I'm handing it all over to my Son. He thinks he can handle it!! (big balls like me)

Problemis he is thick as the proverbial (ucking bimbos)..He got her good looks but none of my intellect.

Think I'll make another will

poopscoop

F_T_Buyer wrote:

My finances:

35% in Cash (continuing to add to it)
45% in Gold & Silver (bought last summer)
20% shares in the company I work for (I aint saying the company)

That just screams employee risk adverse mindset to me.