How much can you save?

tara747

pineconesjay wrote: »

Well done Tara! You achieved your goal a month early

Thank you

tara747

Last update of 2017!

I saved £1,259 in December, £12,611 in 2017 (target exceeded) and my grand savings total now stands at £121,733. A very good year :beer:

CavendishWobble

tara747 wrote: »

Last update of 2017!

I saved £1,259 in December, £12,611 in 2017 (target exceeded) and my grand savings total now stands at £121,733. A very good year :beer:

Well done Tara, really great to see your journey and a fantastic example of how saving consistently over time can get you to where you want to be!

capital0ne

I'm retired and work part-time 3 days/week - invest £2,200/month in ITs

And thats after paying bills, monthly outgoings, holidays, etc, the normal retirement stuff like a coffee out every morning (Not Costa - their coffee is just tasteless!)

longleggedhair

tara747 wrote: »

Yip :beer:




I'm not saying that I'm planning to start a business anytime soon :rotfl: But if I did want to, it would be nice to have some capital behind me.

Also, many analysts are saying that stocks are overvalued at present - but I don't have a crystal ball, and who knows how long this bout of exuberance will last?

As Keynes (allegedly) said: "markets can remain irrational longer than you can remain solvent."

Well done Tara, you've done brilliantly. You have to ignore some of the negativity, I have saved hard and been fortunate, and am flirting with £200K saved and invested now.....and I don't in particular have anything I want to spend it on, but the freedom and comfort that money gives me is priceless, worth more than any Costa Latte!

I have mostly moved out of shares as the values had increased to what I fear are dangerously high levels, however I still invest monthly in investment trusts, perhaps you could do the same as over the long term the returns will beat cash...just a thought.

Keep up the savings, you're catching me up!

tara747

CavendishWobble wrote: »

Well done Tara, really great to see your journey and a fantastic example of how saving consistently over time can get you to where you want to be!

Thanks very much, CavendishWobble!

longleggedhair wrote: »

Well done Tara, you've done brilliantly. You have to ignore some of the negativity, I have saved hard and been fortunate, and am flirting with £200K saved and invested now.....and I don't in particular have anything I want to spend it on, but the freedom and comfort that money gives me is priceless, worth more than any Costa Latte!

I have mostly moved out of shares as the values had increased to what I fear are dangerously high levels, however I still invest monthly in investment trusts, perhaps you could do the same as over the long term the returns will beat cash...just a thought.

Keep up the savings, you're catching me up!

Thanks for the kind words, longleggedhair - much appreciated. Yes, this level of financial freedom feels good. I don't live like a hermit by any means, but I do prioritise my spending so that I can afford to do the things I love as well as saving.

I would like to learn more about investment trusts, what sources would you recommend?

Re shares, I think you may be proved right. They seem very overvalued.

Alexland

tara747 wrote: »

I would like to learn more about investment trusts, what sources would you recommend? Re shares, I think you may be proved right. They seem very overvalued.

Investment Trusts are companies formed to invest their shareholders money into the shares of other companies in order to provide a dividend. In addition to the (hopefully growing) dividends the value of the Investment Trust is volatile depending on the value of the underlying assets and the market's perception on the quality of the management and their ability to grow future earnings. If you don't like shares it's unlikely that you would like Investment Trusts!

If you were willing to consider shares that were not particularly overvalued then there are funds such as Orbis that specialise in buying unattractive assets that still have capital and earnings growth potential. However there is still risk in order to achieve the possibility of greater return.

Alex

longleggedhair

tara747 wrote: »

Thanks very much, CavendishWobble!




Thanks for the kind words, longleggedhair - much appreciated. Yes, this level of financial freedom feels good. I don't live like a hermit by any means, but I do prioritise my spending so that I can afford to do the things I love as well as saving.

I would like to learn more about investment trusts, what sources would you recommend?

Re shares, I think you may be proved right. They seem very overvalued.

No problem, many investment trusts have been around for over 100 years. Put simply they invest in the shares of other companies, or in property, private equity etc. I have my monthly ISA through Foreign & Colonial, the F&C investment trust has been around for 150 years I believe. The performance has been brilliant over the years I have been investing. Your money is spread over a number of different companies/assets, so it offers some protection from individual companies failing. Have a read.

tara747

January payday update!

I saved £1,133 in January, taking my overall total to £122,866.

:beer:

tara747

February payday update...

I managed to save £1,240 in February. That's £2,373 so far in 2018 and £124,106 overall.

Looking forward to hitting £130,000 in a few months! :beer: