Living off my savings and sharedealing

bobbyj_2

"If you do decide to go that route remember that in 10 years time you'll probably be unemployable if your investments go wrong. Getting a little more in the bank from employment or possibly taking the opportunity to start your own business might be a better ploy."


To start a business in this country.. somebody would have to show me an amazing idea for this to happen i must add.

re BRICS.

I'm a big fan of commodities especially the bombed out base metals (Nickel for one believe it or not) as I fully expect the BRICS to really start motoring this next 5 years. I see little value in the big UK listed miners though at present but the smallcap sector has some real potential stars imo. Unfortunately many of these are AIM listed so I'm only a buyer on the big down days once marketmakers have lopped 10% off them. I hold quite a few MWA, TMC and KDD at present all showing decent gains but of course all well off their recent highs. I had great success with CFM as that got taken out by ENRC. I'm rather hoping to see these 3 go and indeed KDD is in the process of a possible bidding war.

Rollinghome

bobbyj wrote: »

To start a business in this country.. somebody would have to show me an amazing idea for this to happen i must add.

I see little value in the big UK listed miners though at present but the smallcap sector has some real potential stars imo.

Can I ask if you think it's so impossible for you to make money from a business, why you'd invest in other people's UK small businesses?

As to a comfortable income it entirely depends on your expected lifestyle. Many moons ago I went with a girlfriend to France and Spain with a tent for a month with £50 in my pocket and had a great time. So it can be done. Nowadays I'd rather sleep in a bed.

bobbyj_2

Because nearly every share i buy short or long term earns its money abroad hence why i mainly invest in commodities. Would I buy a uk retailer on the London stockmarket? No way!!!

bobbyj_2

Had a look at gambling thread but looks too much like hard work. I can scalp some of the stamp duty free shares on the LSE for a greater profit, thanks for idea though.

Linton

I suggest you look at http://www.firecalc.com/ which carries out simulations of the effect of withdrawing a constant amount from a shares investment.

OK, its based on historical US data, but I think it demonstrates the important point that if you dont want to risk running out of money at some time you need to withdraw significantly less than average returns might suggest. £500K sounds a lot but the firecalc figures show that spending £25000 (increasing with inflation) could be rather risky in the very long term.

I would certainly suggest you have enough cash for 3 years at least in a series of 3-5 year fixed rate accounts so you have a chance of selling your investments at a time of your chosing rather than when you need the money.

bobbyj_2

TMC seems to be motoring today if anyone interested in my smallcap mining holdings.

Rollinghome

bobbyj wrote: »

Because nearly every share i buy short or long term earns its money abroad hence why i mainly invest in commodities. Would I buy a uk retailer on the London stockmarket? No way!!!

I was referring to your statement that "the smallcap sector has some real potential stars" so don't understand your reference to UK retailers.

I assume you've been around long enough to understand what a rising tide lifting all boats means. A lot of newbie investors learn it the hard way.

bobbyj_2

smallcap mining sector, keep upto speed.

Didn't realise i had to spoon feed things!!

""I see little value in the big UK listed miners though at present but the smallcap sector has some real potential stars imo""

""a rising tide lifting all boats means""

""Yes i know that saying very well but if you care to read I've made profits for 10 consec years. I'm happy with your 'offerings' so happy to call it a draw with you thanks!

theGrinch

ed123 wrote: »

....I would gamble it all on shares....you will probably make 8 figures this year......

postive or negative?

Rollinghome

bobbyj wrote: »

Yes i know that saying very well but if you care to read I've made profits for 10 consec years. I'm happy with your 'offerings' so happy to call it a draw with you thanks!

Ah fine.

Given your vast experience and great depth of knowledge it comes as a surprise that you need to ask for help on a message board on how to organise your finances for income and whether you would pay tax on £6000 of interest. Most ace investors such as yourself would generally know such things.