Millionaire Challenge

N1AK

tinktay84 wrote: »

I work for myself so have a bit of control over my earnings, we have 1 property that we rent out and my husband has a decent (secure) job.

My aim is to get to the million mark by the age of 40 (im 27 now)

So how many of you think im mad and its impossible :rotfl: and how many of you think i'll do it and have ideas to help me :T

It's a tough target but likely possible. I guess my only question would be why? Is your motivation purely the number, or something the number represents? Are you giving up things that would make your life more fulfilling in order to have £1,000,000 at 40 instead of £975,000 at 40?

gothrockchic1

Hi LessonLearned, I am really sorry for your loss. I am glad your husband is now at peace.

Sending you all my love and hugs for you and your family xxx

GRC xx

troglodyte

So sorry to hear your news LL, but at the same time glad that the end was peaceful and easy and not long drawn-out and painful. I'm sure your sons will help you through this difficult time; that and knowing that you did all you possibly could to help and care for your dear husband at the end. Thinking of you x

Kayalana99

I'm lost for words LL, but I am thinking of you. xx

lessonlearned

Hi there

Thanks for all your kind thoughts and wishes.

The boys and I are doing ok. The funeral is on 28th August and the arrangements are all going well.

There is a lot to do when someone dies, lots of paperwork and official "stuff" I just do a little bit each day.

I've somehow acquired a cat. She's a stray and she's just adopted us, she's actually rather a comfort. She likes to snuggle up to me when I m resting

Both the boys and I get very tired but we are just pacing ourselves and getting through the days.

We will be ok, especially once the funeral is over. Once that is out of the way I will need to deal with all the legal and financial stuff but there's no real hurry. I have a decent cash float to tide me over for now.

troglodyte

I know all about the paperwork side of deaths believe me. I'm still working through things a bit at a time, like you LL. I made the mistake of asking a solicitor for help before, that was the biggest and most costly mistake of my life!

lessonlearned

That's interesting you saying that Trog.

As you know my husband was ill for years and I had full poa. I have always handled the money anyway, and did the books for our companies, only employing an accountant for the absolutely necessary stuff. We had two limited companies and I was a director and company secretary for both of them. And of course I did most of the household accounts anyway.

There is very little money tied up in the estate. As you know I had to to sell property and assets to keep us afloat. What the boys and I now have has been as a result of starting from scratch.

Life insurance was written up in trust so will bypass the estate anyway. I was only thinking yesterday that for the modest amount that was in his bank account I don't feel I need a solicitor.

She would probably charge more than is in the account:rotfl:

I can deal with all that later.

I have enough money to pay funeral expenses :eek: and live on. I have already contacted my husbands pension provider and the insurance company, neither of which need to deal with a solicitor. So I guess I'll just go down the diy route.

I'll read up to see what is involved but I'm sure I can handle it.

The funeral is next week so we've just been concentrating on that for now. Paperwork wise I've just done the bare minimum and what is urgent for now. I'm sure it will take several months to complete everything. My boys will help. They have been gems, so supportive and caring. I couldn't ask for more.

We are just grieving quietly and getting through it. We will be fine.

I will do a big financial review over the next few weeks and take it from there.

gallygirl

Another one saying do it yourself hon. I did with both my parents and it was relatively straightforward (though some companies make you jump through hoops backwards with your eyes closed on one leg. I've been helping a friend who's lost his wife. Due a lump sum, widower's pension and dependent children's pension from her employer - so he's had to fill in a form for each, plus another three forms giving bank details for each :mad:). Another friend who used a solicitor seemed to spend most of her time instructing him what to do and who to contact - far easier to do it yourself.

Take care x

Karmacat

Back again ...

Kaya, thank you for your concern. I went back onto facebook last week, felt I was ready, and a dear friend on there told me about this thread, especially about your husband, LL. I'm so sorry to hear he's gone, but at least it was peaceful, as you say... I'm glad you have your sons, and the new stray cat, to comfort you. I'm sure that taking your time is really important, even though there are things that *have* to be done.

On a much less serious level, thats why I was away for so long - I thought I was ready to come back in April after a short virus, but it was a mistake, it turned into a long attack, for a while I couldn't even sit at the computer money issues were simply abandoned, its not important compared to health, not at that level.

I've been pretty well for 7 - 8 weeks now, and the first thing was to get the garden in order. Its not, but its only the back of the border thats out of control. The house is starting to be clean, and I've been out socially once in the evening. Things are looking up!

I'm ready to start to pay attention to the finances again, which are severely depleted, but very aware of how sad this time is for you, LL. Loving thoughts.

Double_Trouble

Dear Millionaires in Training

I have read the second half of this thread and will read the rest soon.

Can I join in please not sure what sum I am aiming for but enough to be comfortable in old age. Sadly I am not a twenty something with decades in front of me but a 55 year old but still with 2 young children to launch into the world with the best education I can afford and then let them make of it what they will.

I have made a lot of mistakes in the past and I have a long way to go to sort some of them out and when things seem to be going my way something comes along to knock things off course but I have learnt resilience and I am still trying which I guess is what counts.

So will you have me?

DT